Protecting Your Business Interests During Divorce
Dividing a business during divorce can feel overwhelming – especially when your financial future is at stake. Whether you built the company yourself or supported your spouse while they did, you deserve a fair, informed resolution. At Carolann M. Aschoff, P.C., we assist business owners and their spouses in navigating the legal and financial complexities of property division. You can be assured of personal attention and strong representation from a team that understands what’s at risk.
Determining The Value Of Your Business
Before any decisions are made, the business must be properly valued. We collaborate with appraisers, forensic accountants and valuation experts to evaluate the value of closely held and large-scale businesses. For smaller companies, we can explore cost-effective alternatives. Common valuation methods include:
- Asset-based valuation: Calculates value based on tangible and intangible assets
- Income-based valuation: Projects future earnings and discounts them to present value
- Market-based valuation: Compares your business to similar ones recently sold
Each method suits different business types. Our divorce attorneys will help you choose the right approach based on your company’s structure, industry and financial history.
Distribution Options
New Jersey follows an equitable distribution approach, meaning marital assets are divided fairly – not necessarily equally. The court considers each spouse’s contributions to the business, including financial investment, labor and support. Common options include the following:
- Buyout: One spouse purchases the other’s share. The business continues under one owner, often with financing or installment payments.
- Sell the business: The couple sells the company and divides the proceeds. Selling may provide a clean break but often disrupts operations or reduces value.
- Remain co-owners: Some couples opt to continue operating their business together. It requires trust and a clear operating agreement.
- Offsetting assets: One spouse keeps the business, while the other receives a larger share of other marital property – such as retirement accounts or real estate. However, the final agreement is subject to court approval.
Each option carries financial and emotional considerations, and our attorneys will help you choose the path that best protects your long-term interests.
Complex Situations We Can Help You Navigate
Some divorces involve business-related issues that require deeper legal analysis. These factors may affect ownership and asset division, such as:
- Businesses started before marriage
- Prenuptial or postnuptial agreements
- Tax implications of asset transfers or future sales
These complexities don’t have to prevent a fair resolution. We’ll help you understand your options and make informed decisions that protect your financial future.
How Carolann M. Aschoff, P.C., Can Help
With over 30 years of experience, our legal team has handled both straightforward and high-stakes business divisions. Founding attorney Carolann M. Aschoff is certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney. It’s a distinction held by fewer than 150 lawyers statewide. She will listen to you, explain your options and advocate for your interests.
Schedule A Consultation
Call our Jersey City office at 201-793-7739, our Livingston office at 973-200-4892, or our Bayonne office at 201-793-7739. You may also contact us online to schedule a meeting. Our divorce attorneys will help you protect your business interests and pursue a favorable outcome.