Don’t Let Your Business Become A Casualty Of Your Divorce
You’ve poured your heart, soul and countless hours into building your business. Now, facing a divorce, you’re understandably concerned about its future. Whether it’s a family-owned enterprise or a business solely in your name, the thought of losing what you’ve worked so hard for can be daunting.
At The Wallack Firm in Manhattan, we exclusively practice family law, focusing on high-asset cases. We aggressively represent our clients, including high-profile individuals with successful businesses. Our attorneys also have extensive experience in managing the publicity that often accompanies these cases.
How New York Law Divides Business Interests
In New York, business interests that are considered marital property will be subject to equitable division during divorce. Marital property generally includes the business interests of either spouse, regardless of whose name they are in.
In some cases, business interests may be considered separate property – and, therefore not subject to division. Our lawyers can evaluate your situation to determine whether your business interests are marital or separate.
Why Accurate Business Valuation Matters
One key to protecting your business lies in proper valuation. An accurate valuation must be based not only on tangible assets but also on factors like future earning potential and market conditions. Understanding the worth of your business is crucial to achieving a fair settlement.
The Impact Of Marital Agreements On Business Division
Pre- or postnuptial agreements can also significantly impact the division of business assets. These legal documents may dictate how business interests are divided. However, challenges sometimes arise regarding the validity and enforceability of these agreements.
Our lawyers can help you address the impact of a marital agreement on the division of business interests in your case.
Ready To Protect Your Business?
Our attorneys will take a diligent and strategic approach toward protecting everything you’ve worked hard to build. Get started by calling 212-651-6461 or sending us an email.