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Your options for dealing with a family business in divorce

On Behalf of Cullen Family Law Group | May 27, 2022 | Divorce |

Divorce can be expensive, especially given that you’ll have to divide your marital property, which can threaten to leave you on uncertain financial footing. And things can become even more complicated when a family business is in play. These businesses can be difficult to valuate and getting a clear sense of the business’s liabilities can be trick.

That may leave you wondering what your options are for dealing with the family business in your divorce. Essentially, you have three options:

  1. Sell the business: If you and your spouse don’t have an interest in keeping the business, then it might be best to simply sell it and then divide the proceeds. This may be the best way to ensure that the true value of the business is evenly shared.
  2. Buyout: If you or your spouse want to keep the business running, then you might want to negotiate a buyout. This may be an expensive proposition for the individual who is buying out the other, but leveraging other marital assets can help lessen the financial impact. Just keep in mind that if you’re the one selling out, then you need to make sure that you’re getting a fair price based on the business’s value.
  3. Share the business: This isn’t always a popular option, but you have the ability to continue to co-own the business even after divorce. This route can help provide a steady stream of income, and you can even develop an arrangement where you and your former spouse aren’t both managing the business, which otherwise could lead to heated disputes.

Do you have a strong legal strategy on your side?

As you navigate the property division process, you need to ensure that you have a strong legal strategy ready to go. If you don’t, then you could be at risk of losing out on the financial resources that you deserve. So, if you’d like some assistance in figuring out how best to approach your case, then you might want to discuss the matter with your divorce attorney.

I’ve been served divorce papers that include false allegations: what do I do?

On Behalf of Cullen Family Law Group | Jun 6, 2025 | Domestic Violence

Receiving divorce papers is already overwhelming. When false allegations are part of the paperwork, the situation can feel even more difficult. It’s essential to stay calm and know how to address the issue. Here’s what to do if you receive divorce papers containing...

Do domestic partnerships affect divorce rights?

On Behalf of Cullen Family Law Group | Apr 14, 2025 | Divorce

Domestic partnerships offer many of the same rights and responsibilities as marriage, but they can complicate the divorce process. If you're ending a domestic partnership, your legal path may differ from that of a traditional divorce, especially in California....

Moore / Marsden calculations in California divorce

On Behalf of Cullen Family Law Group | Apr 10, 2025 | Divorce

In California, Moore/Marsden calculations determine how to divide property when one spouse’s separate property has contributed to the acquisition or improvement of community property. These calculations ensure a fair division of property in divorce cases, particularly...

How can you document SP for asset protection?

On Behalf of Cullen Family Law Group | Apr 3, 2025 | Family Law

When you're about to get married, it's important to think about how to protect your assets, including spousal support (SP) money. If you've received spousal support in the past or expect it during your marriage, you may worry about documenting its use—especially if...

What to expect during child support enforcement actions

On Behalf of Cullen Family Law Group | Mar 23, 2025 | Child Support

Child support represents the financial contributions a non-custodial parent makes towards their child's upbringing. It ensures a parent meets the child's basic needs, such as food, housing, and education. It also supports a child's wellbeing, especially when parents...

Can you reimburse expenses before child support orders take effect?

On Behalf of Cullen Family Law Group | Mar 17, 2025 | Child Support

After a separation, managing child-related expenses can become a challenging task, especially before any official child support orders take effect. Many parents wonder if they can reimburse child expenses during this interim period. Understanding your rights and...

Do mothers have more rights than fathers in custody cases?

On Behalf of Cullen Family Law Group | Mar 11, 2025 | Custody & Visitation

When it comes to custody cases, it is a common misconception that mothers have more rights than fathers. This often stems from historical trends and societal assumptions about parenting roles. Whether you are a mother concerned about maintaining your relationship with...

Why should you update your advanced directives during a divorce?

On Behalf of Cullen Family Law Group | Feb 28, 2025 | Divorce

Going through a divorce is challenging. One crucial aspect that often gets overlooked is updating your advanced directives. These legal documents play a vital role in ensuring others respect your wishes, even when you cannot speak for yourself. Protecting your...

Can you protect yourself and your children without a divorce?

On Behalf of Cullen Family Law Group | Feb 25, 2025 | Domestic Violence

Domestic violence creates a terrifying and dangerous situation. You may feel trapped, believing divorce is your only option for safety. The good news is that California law provides legal alternatives if your moral beliefs prevent you from getting a divorce. Let us...

What can California parents do if their child refuses to visit the other parent?

On Behalf of Cullen Family Law Group | Feb 14, 2025 | Child Custody

Dealing with a child who does not want to see their other parent can create stress for everyone involved. California courts expect parents to follow custody orders while being sensitive to their children's feelings. Parents can struggle to balance their legal...

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Recent Posts

  • I’ve been served divorce papers that include false allegations: what do I do?
  • Do domestic partnerships affect divorce rights?
  • Moore / Marsden calculations in California divorce
  • How can you document SP for asset protection?

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