Helping Family Owned Business Owners in California
A family-owned business can significantly complicate a divorce. If you are contemplating divorce, but you are concerned about a family owned business, a lawyer can guide you through the divorce process to ensure the business is not damaged.
I am Redlands, California, family law attorney Lenita Skoretz. My firm has been helping people resolve tough divorce settlement problems, including the division of family businesses, for more than ten years. I know that it is your future that is at stake following your final divorce decree-not mine. Contact me to schedule a consultation.
Experienced guidance in business valuation
There are many factors that arise in determining the appropriate division of a family-owned business. The initial question will focus on whether the business was started during the marriage or existed before the marriage and was the individual property of one partner.
If it is community property, a second set of questions will focus on the proper valuation of the business. An experienced family law lawyer can guide you through the process of business and asset valuation.
Finally, you will need to consider options to move forward with division of the family business or business assets. You may consider options such as:
- One person buying the other out of their portion of the business
- Restructuring the management or ownership interests of the business
- Sale of the business
- Dissolution of the business
