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Business Interests in Divorce
Under Florida law, all marital assets and debts must be equitably divided and distributed in a divorce. When one or both spouses own a business, or professional practice such as a doctor, that business or professional practice is also subject to equitable distribution. This situation can bring on a number of complicated issues.
I am Alan Robert Burton, Attorney at Law. I have more than 40 years of legal experience representing men and women in the divorce process, including when business interests in divorce are an issue. Contact me today to discuss your needs and concerns during a free initial consultation at either my Boca Raton or Fort Lauderdale offices.
Palm Beach County Business Valuation Attorney Experienced at Technical Division Issues
If you are contemplating divorce, and you or your spouse owns a closely held company, family-owned business or professional practice, a lawyer is crucial to properly evaluate the worth of your company and protect your interests. I have access to many experts, such as forensic accountants and business valuation experts, who can accurately determine the value of the company or professional practice. If you and your spouse cannot agree on the value of the company, I will be able to argue persuasively on your behalf in front of a judge.
I will also go over any documents that outline each spouse’s ownership interests in the business, such as partnership agreements, shareholder agreements and prenuptial agreements. These documents can shed light on what each party is entitled to receive in the divorce process.
Possible Outcomes for Division of a Family Business, Division of a Professional Practice or Other Corporate Holding
When a business is subject to equitable distribution in a divorce, there are many possible resolutions. One spouse could exchange his or her interest in the company for a larger share of other marital assets, such as the marital home or the proceeds of retirement accounts. If you wish to sell the company to a third party and equitably divide the proceeds with your spouse, we can help facilitate that transaction as well.
When a business is involved in a divorce, negotiation and alternative forms of dispute resolution, such as mediation, generally give each party more control in the final result. If litigation is necessary, you can rest assured that I will take every step necessary to protect your rights.
Contact Alan Robert Burton, Attorney at Law
Call or email me to schedule a free initial consultation. Call (954) 229-1660 or my cell at (954) 295-9222. I maintain an office in Boca Raton, and represent clients across South Florida.