Helping Couples Divide A Business Due To Divorce
Business owners going through a divorce face many distinct challenges. They need to keep their focus on the day-to-day needs of their company, but they also must deal with the stress that often accompanies divorce. The future of their company could be severely jeopardized if they make the wrong decisions at this time.
If you own a business and are facing divorce, you need an experienced problem-solving professional on your side. At Bergmans Law P.C., we can help explain the complicated process of dividing a business in divorce and assist you in making informed legal decisions. We will carefully explain what we can do to help and walk you through the options that are present in your situation. We will address each and every concern that you have, so that you can feel confident that your business will be protected throughout the process.
Get Practical Advice From An Experienced Attorney. Call 810-222-5703 For A Free Consultation.
Basics Of Business Division In Michigan
If you or your spouse started a business during your marriage, it is likely that the entire business will be treated as marital property during a divorce ― meaning both of you will be entitled to a portion of the entity. Indeed, even if only one of you ran the company while the other was a homemaker, the business could potentially still be considered marital property.
Conversely, if the business was started before you and your spouse were married, a court will typically consider the value of the business before marriage as separate property not subject to division. But, if the business grows during the marriage, any increase in value will be considered marital property and must be divided during divorce.
Our goal is to help you and your spouse consider arrangements that work best for all parties. We want to make your divorce a positive experience. We will carefully examine each issue that we must address and help you find a solution to each of your specific needs. Together, we will develop an approach that ensures a stable future for your business.
Legal Guidance For A Dignified Divorce
We want to help you find the right solution for your family. Contact Bergmans Law P.C. if you have questions about asset division in Michigan. Reach out to us online or call our Howell office at 810-222-5703 for a FREE initial consultation.
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