4 Things Business Owners Need to know About Divorce

You’re 35, you own your own business, and it’s making money. You get to be your own boss and the dream you’ve been working toward since college is finally falling into place.

Then your spouse asks for a divorce. Not only is your personal life changing dramatically, but your business could be in jeopardy. Below are five things you must know to protect it.

1. The best protection is a prenup.

Naturally, if you’re already married and you don’t have a prenup, it’s too late – though you could consider a post-nuptial agreement. Either way, this is the best tactic to protect your business. You simply craft a prenup states that your company doesn’t count as an asset that needs to be divided, but belongs to you alone.

2. You can negotiate with your spouse.

So you don’t have a prenup and your spouse won’t sign a postnup so close to the divorce. There are still things you can do. It pays to negotiate with your spouse. Be civil and work toward an agreement that helps both of you. For example, if you care about keeping your company 100 percent in your hands more than anything else, but your spouse doesn’t know where he or she is going to live, your spouse may be happy to take 100 percent of the home – rather than selling it and splitting the proceeds – in exchange for his or her half of the company.

3. You need a realistic valuation.

One of the keys to using this tactic lies in getting a true valuation of the company. Remember that this may not be the same as the money you put into it. For your purposes, it may also be helpful to have the valuation come in as low as possible. Don’t take it as a slight if you think your company is on the rise and worth $1,000,000 when a financial expert says it’s only worth $400,000. The low price makes it easy for you to buy out your spouse so you can work on getting it to that $1,000,000 goal.

4. Be professional.

Yes, a divorce is personal. But you must remember that dealing with your company brings you back to the professional side of the process. Be honest. Don’t try to hide assets. Don’t refuse to speak to your spouse. Don’t fight over trivial things because you’re feeling so emotional. Try to keep a calm outlook at all times, focusing on your professional future and what you need to do for your company. This mindset puts the company first and helps ensure an agreement you’ll be happy with in five years.

Divorce is hard for anyone, but it’s especially complicated for young business owners. Make sure you know your legal options and what you can do to protect your company and seek an outcome that keeps it intact.

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Bill C

Carren and Jason were very helpful and quick to respond to my questions and concerns as we worked through my divorce, I would recommend them to anyone.

Response from the owner: Thank you, Bill.

James Herrera

I cannot say enough good things about Brown Family Law. Amy was my attorney and she was great! She always listened and responded quickly. Thanks to her, my case was resolved quickly. Thank you, Amy.

Response from the owner: Glad Amy communicated so well with you, James.

Jace Morris

Fast and kept me involved. Very professional team.

Response from the owner: Jace, thank you.

Shaun Jorgensen

Best attorney ever. They were so helpful and responsive

Response from the owner: Thank you, Shaun.

Christie Berube

When I started my case with Brown Family Law, they had 650 positive reviews. Now, about a year later, they have 820. Not sure how much else you need to convince you, but do yourself a favor and stop looking. You're in the right place.We worked with Nathaniel for nearly a year on our case, and trusting someone with something so vulnerable and close to you as a custody case is difficult, but he made it easy. His knowledge of law and experience with the court system allowed us to make educated decisions quicker. He helped me feel confident in very unfamiliar territory, and having someone like Nate on my team allowed me to make the best decisions possible for our family. He thought of many things I didn't, and gave us the roadmap to success for navigating a complicated and stressful situation. I found myself constantly bragging about our lawyer to family and expressing how impressed I was in his skill and his fearless nature of getting sh** done. Nate got that dawg in him, yanno what I mean?I like the way Brown Family Law works with their clients; it's different than other law firms, and I can see the benefits of those differences. It's always easy to contact someone at the office, and I get a response very quickly. They are extremely communicative, fast, and thorough. They run a tight ship, and it's obvious the quality differences from other law firms.This is a big and heavy decision, but Brown Family Law will take a lot of that weight off your shoulders. Ask for Nate--you won't be led astray.

Response from the owner: Christie, thank you. So glad Nathaniel was able to help you and that we were able to communicate with you so quickly.

Fer Esquivel Guillén

This firm is awesome but special shoutout to Dani, she is an outstanding paralegal. She is very knowledgeable

Response from the owner: Thank you very much for your kind words about Dani.

Karl Bench

I can't say enough about Russell Yauney at Brown Family Law! He has helped me on multiple cases over the years and has always exceeded my expectations. Russell is one of the good guys who isn't afraid to tell you how it is and isn't afraid to stand up and fight for what is right. I'm glad that I have Russell and his team in my corner!

Response from the owner: Karl, glad Russell served you well.

Ryan Farrell

very helpful to fathers who have been broke by the system and targeted for vaporization(1984). Thank you brown family law.

Response from the owner: You're welcome, Ryan. And thank you for the kind words.

Samantha Lachowsky

Nathaniel was my attorney and I couldn't ask for someone more attentive and level-headed than he is. They made my divorce process so much easier and were very patient with me as I navigated the entire process. Thank you Brown Family Law for all of your help!

Response from the owner: Samantha, thank you and so glad Nathaniel did such a good job for you.

Danny Fenstermaker

Used Nathaniel Garrabrandt for a child custody case. He is very good, very professional and available. Having been through this a few times that communication is very important. The only warning, and this isnt just Nate per se, but very very costly.

Response from the owner: Danny, thank you for recommendation. Glad Nathaniel has been able to help you.

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