Law Offices of James V. Sansone
Schedule an initial consultation
Santa Rosa 707-623-1875
Ukiah 707-993-4068

Options for business owners during divorce

Most couples in California and elsewhere may enter their marriages with every intention of remaining together throughout life. However, this isn't always the case, and upon making the decision to divorce, many may wonder how best to go about preparing for the subsequent process. One topic that many consider it vital to prepare for pertains to the division of assets, and for business owners, knowing the available options prior to entering property division negotiations could prove imperative.

There are a variety of factors for business owners to consider when preparing for divorce, some of which may depend on the variables present. For instance, if there is an existing prenuptial or postnuptial agreement, the document may dictate how the process will go. These agreements may provide guidelines as to how the business is valued or how it will be divided, but even without such an arrangement in place, business owners may still have options.

If a business owner can show that the company was started before marriage and was kept separate from marital assets, it may retain it separate identity during divorce proceedings. However, there are a variety of scenarios in which a company can be mingled with marital assets. Should owners fail to pay themselves competitive salaries or allow their spouse to take an active role in the company, at least a portion of the business could be deemed community property.

Business owners who wish to take every possible measure to protect the future of their companies could benefit from seeking guidance early in the process. When facing a divorce, an owner could choose to consult with a family law attorney for guidance on all his or her available options. An attorney in California can address all a client's concerns and assist in developing a strategy to pursue the best outcome achievable concerning the future of his or her business.

No Comments

Leave a comment
Comment Information

Reviews For Our Office
in Ukiah, CA

powered by BirdEye

Reviews For Our Office
in Santa Rosa, CA

powered by BirdEye
Email Us For A Response

Request A Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

Santa Rosa Office
1260 N. Dutton Avenue, Suite 239
Santa Rosa, CA 95401

Toll Free: 800-836-1298
Phone: 707-623-1875
Santa Rosa Law Office Map

Ukiah Office
215 W. Standley St.
Suite 10
Ukiah, CA 95482

Toll Free: 800-836-1298
Map & Directions