Divorce and Jointly-Owned Businesses
During the course of their lives together, married couples may choose to open a joint-business venture, retail store, restaurant, or other type of business. If the couple decides to get a divorce, they often have to decide how the company will be treated during the divorce process.
Because divorce proceedings can often be complicated affairs and may be an emotionally-charged process, it is important to have an experienced divorce lawyer on your side to help you resolve your case. The San Jose divorce attorneys at the law offices of Daniel Jensen, P.C. are here to help you if you need assistance with a divorce case. Contact us at 408-296-4100 to discuss your legal options.
Options for Business Owners
If a couple owns a business or company, they may be able to reach an agreeable settlement regarding the treatment of the business during the divorce. Common options include:
- Splitting the proceeds through the sale of the business. This common practice allows divorcing couples to remove themselves from the business partnership and move on with separate ventures.
- Relinquishing control to one person. In this situation, one spouse will be given complete control of the business in exchange for marital assets of an equal value.
- Continued operation of the business as professional partners. Although this arrangement may be complicated, some individuals may choose to continue their professional association, even if they are no longer married.
By reaching a fair decision regarding the treatment of a shared business in the divorce proceedings, people may be able to continue the operation of their company or may be able to walk away with money to start a new company.
Contact Us
For assistance with a divorce case, contact the San Jose divorce lawyer, Daniel Jensen, of the Daniel Jensen Law Office, P.C. at 708-296-4100 today.
