Helping Clients Navigate A Course To A Better Future

Handling a business during marital property division

For people headed for divorce in North Carolina, the end of a marriage can be complicated not only by the emotional fallout but also by financial complications. This is especially true when a small business owner or entrepreneur decides to divorce. Whether a business owner runs the business on their own or the company is a partnership with one’s spouse, the value of the business can be relevant throughout the divorce proceedings.

Depending on the size and success of the business, it may be a substantial asset to be considered during property division in divorce negotiations. In order for the value of the business to be accurately considered, getting a proper valuation can be important. Aspects of the business that can be evaluated include liabilities and debts, future growth potential and current revenues. For those involved in a partnership with their former spouse, it can also be important to establish a price at which one’s former spouse could buy them out of the business.

In order to set buyout terms and deal properly with the business in divorce negotiations, it is important to gain an accurate valuation. This is the case whether it is a solo business or a partnership. A professional appraisal by a forensic accountant can help establish a clear value of the business. It can also be critical to maintain the value of the business throughout the divorce process by continuing to manage operations, fill orders and otherwise deal with clients and customers.

Throughout the divorce process, it is important to gain a correct understanding of the finances of the business. This helps avoid an unfair settlement that overvalues or undervalues the enterprise. Throughout the property division process, a family law attorney may advocate for their client’s interests and work to ensure that they receive a fair shake as marital assets are separated.

Client Testimonials

A Wonderful Experience

I had a wonderful experience with Kennedy Law Associates. Marsha Kennedy and her Associates were knowledgeable, efficient, and caring. I felt like my case was a high priority to them, and they helped me understand every step of the divorce process throughout my entire case. I would highly recommend this firm to anyone looking for assistance with a family law matter!
Jennifer Haines

Smart, Caring Staff

I am savvy financially, but had no clue about the divorce process. Through it all, Ms. Kennedy and her staff have been there for me and my kids.
Anonymous

The experience you need through a difficult time

Marsha Kennedy and her team has expertly handled each situation and guided me through the process.
Kelly

Highly Recommend!

Kennedy Family Law did a wonderful job representing me in my divorce. Always responsive and kept me informed – they really cared about me.
Bette Frederick

Highly Recommend!

I have been working with Marsha Kennedy and her team and am so impressed with how my case is being handled.
Kelly Peterson
FindLaw Network