Know the Laws So You Can Protect Your Business Interests in a Monmouth County Divorce
A business that you built or helped grow can be a key asset in a divorce case. Just like other high-value marital property, business assets can be the source of heated, drawn-out disputes. Understanding how business distribution works in divorce and having an experienced attorney by your side through the process can make all the difference in the outcome of your case. It can also impact your future ownership, holdings, and interests in a business.
The Red Bank family lawyers at Dwyer, Bachman, Newman & Solop Attorneys at Law have vast experience with business distribution in divorce. Whether you have an interest in a startup, a family business, or a large company, we can help you assert your rights, protect your business interests, and fight for the best possible results.
From mediation and arbitration to high-net-worth divorce, our experienced attorneys are highly skilled at counseling clients through all types of dissolution cases. We are ready to provide you with essential advice and exceptional advocacy in the journey ahead. Regardless of the complexity of your case or the nature of the business assets involved, we have the experience, commitment, and skills to fiercely advocate your rights in the pursuit of optimal resolutions.
How Business Assets Are Divided into Monmouth County Divorce Cases
Several factors will influence how joint business interests are split up during a divorce case in New Jersey. Generally, if exes can agree on how to divide their business interests, the court will honor the agreements reached. This can be possible when:
- One party buys out the other’s business interests: Either spouse may choose to forfeit certain marital assets in exchange for the other’s interests in a business. When both parties agree to this type of exchange, it should be detailed in a settlement agreement and submitted to the court for approval.
- A valid prenuptial or post-nuptial agreement exists: When these contracts cover how to handle business interests in a divorce case, the terms of the agreement will usually be upheld by the court.
When exes cannot agree on how to split up their joint business interests, New Jersey’s equitable distribution laws for property division in divorce can come into play. The courts will use these statutes to determine a fair distribution of the business assets in these cases. To do this, a business valuation may be necessary. These evaluations, which can be conducted by forensic accountants and other experts, tend to include an array of assets and liabilities, from real estate and equipment to debts, contracts, and more.
Once the value of a business has been determined, it will be up to the court to decide how to distribute the business between the divorcing parties, based on the role each has played in building, operating, and/or growing the company (along with other factors). Depending on the circumstances, liquidating or selling off a business may be part of this process.
Get Confidential Advice & Experienced Representation from a Top-Rated Monmouth County Divorce Attorney: Contact Us
When it’s time to protect your interests in a business as you proceed with a divorce, it’s time to contact a Red Bank divorce lawyer at Dwyer, Bachman, Newman & Solop Attorneys at Law. Our boutique family law firm specializes in the business distribution and property division in divorce, and our attorneys have extensive experience handling even the most complex and contentious disputes in these cases.
No matter what type of business is involved or where you stand in the matter, our team has the expertise, skills, and resources to provide superior advocacy. We are ready to help you assert your rights, protect your interests, and achieve your goals. Let us explain your options and how we can help you during an initial case evaluation.
Call (732) 863-2463 or contact us online now for confidential advice and essential answers regarding any aspect of your divorce.
With more than a century of combined family law experience, we have a deep understanding of the law and the best strategies to put into play under a variety of divorce circumstances, including those involving business owners and shareholders. That is how we are extraordinarily effective at helping our clients:
- Navigate the divorce process: Don’t make short-sided decisions because you are unaware of better alternatives or you can’t see the bigger picture. We’ll explain what’s at stake and provide the experienced counsel you need when it’s time to make the tough choices.
- Protect what’s most important to them: With our experienced counsel, you’ll know what you need to do to avoid compromising your case, your standing, your interests, and your goals.
- Set their cases up for favorable outcomes: We’ll work relentlessly to help you get the best possible results so you can protect your financial future, your potential business interests, and your opportunity to move on to a bright future after divorce.
From offices based in Red Banks and Old Bridge Township, our family lawyers are proud to offer client-focused divorce representation to those throughout Monmouth County.