Dividing Business Assets As Part Of A Divorce

If you or your spouse owns a closely held business, or if you own a business together, the division of business assets is a significant part of your divorce case. Depending on how the business is structured and how it is held, this can be a complex matter to evaluate. The lawyers of our firm, Reese-Beisbier & Associates, P.C., have more than two decades of experience handling divorce cases that involve business division questions. We collaborate closely with a network of professionals who conduct business valuations as necessary for your divorce.

Why Are Businesses Considered Martial Assets, Anyway?

If a business was owned by only one spouse going into a marriage, it may seem strange that it can be considered a marital asset. But one thing to understand about the concept of marital property in an equitable distribution state such as Georgia is that some property considered separate because it was owned outright by one party prior to the marriage can get moved into the marital category because its value increased substantially during the marriage due to the efforts of one or both spouses. This is true for a business as well.

Strategies For Joint Business Asset Decisions In A Divorce Case

Depending on your individual circumstances and the valuation reports, you may choose to do one of the following related to business assets you own jointly:

  • Leave the situation as it stands now, if you work in the business together and you feel you can continue to do this amicably
  • Sell the business to a third party and divide the proceeds
  • One spouse buys the other one out to gain 100 percent ownership of the asset
  • Fold the business assets into a larger property division settlement

Like most divorce issues, business division is a highly individualized process. Our attorneys do not use cookie-cutter solutions to resolve your challenges; your case is unique, and we treat the resolution of it that way.

Bring Us Your Business Questions During Your Divorce

Our firm serves family law clients in Forsyth County, Fulton County and the surrounding areas, as well as many places across Georgia. To make an appointment for a consultation, call our office in Cumming at 678-947-2988 or use our online contact form.