Divorce For Executives And Business Owners
In Massachusetts, property and assets are divided equitably — because of this, business equity is considered a marital asset even if just one spouse is involved in the business. Should the spouses split the business? Can you and the other party continue working together? Should you buy the other party out? Are you a high-powered executive concerned that your spouse is entitled to the fruits of your labor? There are many questions to ask and many factors involved. By exploring each issue, we can arrive at the best possible solution for your specific situation.
At the law office of Alan J. Pransky in Dedham, Massachusetts, we can look at the unique factors involved in your business and explore your options with you. To schedule a free consultation with an attorney, call us at 781-613-8809.
Let’s Explore Your Options
There are several options a lawyer can look at when dividing businesses. For example:
- Should we split the business 50-50? Perhaps each spouse is on board with this idea. You and the other party could keep your share of the business and enter into an agreement on “who gets what,” including customers and geographical territories, if that applies.
- Does just one of you want to keep the business? This may be possible if the person who desires to maintain control of the business has or acquires the necessary licensing. Additionally, to “buy out” the other party, there needs to be enough financial equity to do so.
These are all items that need to be considered as you go through property division in your high asset divorce. Partnering with business valuation experts and other professionals, we can determine the business’ value and then move forward toward obtaining a fair share of the business on your behalf.
In addition to representing small business owners, we advise executives on the division of retirement accounts and other complex property issues.
Put More Than 30 Years Of Experience On Your Side
People throughout the Greater Boston area turn to our law firm for knowledgeable and effective guidance when dividing executive benefits and small businesses. To schedule a free consultation, please call us locally at 781-613-8809. You can also contact our Dedham law firm online.
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