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How is a Family-owned Business Handled during the Divorce Process?

By Jamie Berger, Esq.

Family-owned Business and Divorce Attorneys Morristown NJ

Our experienced attorney Jamie N. Berger, Esq.explains some of the different routes a family-owned business may take in the middle of a divorce process.

What to do with a Family Owned Business in a Divorce Process?

Something that can complicate divorce issues is when you have a family-owned business and when that family-owned business is owned between two spouses, that serves as a further complication because we need to get through whether one spouse is going to buy out the other spouses’ interest in the business. Whether the spouses are going to continue running the business together and those are issues that we need to be discussed and negotiated within the confines of your divorce.

What can happen if the couple can´t reach an agreement?

Ultimately, if a court can not determine whether or not one spouse will buy out the other interest they may order that that business be sold, which can have detrimental effects to a family. So these are all issues that we want to make sure that we carefully navigate. It may involve hiring an expert to come in and do a business valuation so we can determine what the equity in the company is and what one spouse may be entitled to in that equity. So, these again, are very complex issues, ones that we are certainly well versed to navigate and ones that we are happy to talk to you about should you contact the firm and require additional information.

Contact our Morris County Divorce Attorneys to Wisely Guide you Through the Entire Process

Our Family Law Firm strongly believes in the importance of communication to get the best outcome of any situation, especially one where the final actions may be given by the court and will not necessarily be the couple´s desire.

We will be available for clients in Morris County and surrounding communities including Morristown, Madison, Randolph, East Hanover, Denville, Florham Park, Tewksbury, Rockaway, and across Northern New Jersey through the mediation process from beginning to end.

For a confidential and comprehensive case assessment regarding your divorce, asset division, or other family law matter, contact us online or call our Morristown offices by dialing (973) 710-4366 today.

Contact Our Morristown Attorneys Today

At Jacobs Berger, our attorneys are experienced in protecting our clients across Madison, Randolph, Tewksbury, Morristown, and the greater Morris County area in all family law-related issues.

To schedule a strategic planning session with one of our experienced team members regarding your particular case, please contact us online or through our Morristown, NJ office at (973) 354-4506.