Protecting What You Have Worked Hard To Create
When a business is involved in a divorce, the process to divide the value of the business can be contentious. Whether you are the owner, co-owner or spouse of her owner, it is critical to seek legal counsel to protect your rights.
The Law Offices of Conti, Levy & Salerno, LLC, understand the complications and risks of dividing a business within a divorce. We are committed to upholding the interests of Connecticut business owners and arriving at a fair resolution.
Determining The True Value Of Your Business
To divide property and assets fairly and equitably, the value of the business must first be determined. Determining the true market value of the business essentially means arriving at what it would be worth if it were sold today.
This can be a complex number to calculate. We utilize business valuation specialists and tax accountants to examine the size, profits, assets, predicted worth and more of your business. Our dedicated, thorough approach allows us to determine an accurate value.
What Are Your Options?
If one or both of you are business owners, you may fear losing your business due to the dissolution of your marriage. Fortunately, there are many options available, including:
- One spouse could retain ownership of the business and negotiate the departure of the other
- The business could be sold to a third-party buyer should neither spouse wish to retain the business or a buyout agreement cannot be reached
- The business could be liquidated should simply closing the business be in the best interests of all involved
- You and your spouse could swap assets of equal value.
The option that works best for you and your spouse will be highly dependent on your circumstances. We will work with you to determine all available options for the future of your company.
Working To Reach A Resolution
Dividing a business in the courtroom can get combative. We can work to resolve such issues through a more collaborative setting, such as mediation or collaborative law. However, we understand that there may be situations when an amicable resolution is not an option. In such cases, we are prepared to ardently represent you, your business and what you have worked hard to create in the courtroom.
Discuss Your Business Division Matters With An Experienced Attorney
Our lawyers can leverage their decades of family law experience in assisting you to examine your options, make informed decisions and reach a productive resolution. Schedule a free consultation at our Torrington office. Call us at 860-866-4637 or reach out to us online.