Matters of divorce are complicated for anybody. Not only is divorce very emotional, the couple must also push through their emotions to divide all of the property that was brought into the marriage or acquired during the marriage. When one or both of the parties in the divorce is a business owner, matters can become even more complicated. Divorces that involve businesses have so much on the line that it is important for the business owner to retain quality legal counsel that has experience with these matters. Protecting one’s business is crucial.
One of the most nervewracking and difficult parts of getting divorced as a business owner is that if the business is considered marital property, it will be subject to equitable distribution. Of course, this is a major concern because the spouse who owns the business does not want to lose it in the divorce. The court is responsible for assigning a value to the business. At this time, the business owner has to provide all necessary records and financial documents that can help determine the value of the business. It is important to be aware that a lot of time, the court may reach out to a forensic accountant that can help examine all of the business’ financial records in order to determine the true value.
If you are a business owner facing divorce, it is important to have the guidance an experienced attorney. Contact us today.
If you require strong legal representation for matters of divorce and family law in New Jersey, contact The Law Offices of Paone, Zaleski & Murphy to schedule a consultation with one of our experienced attorneys today.