During a divorce that involves a business, it’s important that you have the business valued. By obtaining the valuation, you’ll know how much the business is worth and how you’d like to negotiate to keep it or to allow your spouse to keep it in full.
As business owners or the spouse of a business owner, you need to decide if you will continue to run the business together, sell it or negotiate to buy out the other spouse of their share. The valuation is important, since it gives you a good idea of how much the business is worth and if you would be better served to let it go to the highest bidder or to stay in business yourself.
Is it worth working with a business attorney or divorce attorney while valuing the business?
Through the entire process, it’s a good choice to work with an attorney. They’re educated in the fields of divorce and business, which is vital to your case. There are attorneys who are well-versed in helping business owners going through a divorce, and they can give you many good ideas about how to divide your business or how to protect your business moving forward.
Our site has more on what to do if you’re going through a divorce and have a business with your spouse or a business that you opened during your marriage. Every situation is different, so it is important that you look into your legal rights and responsibilities so that you know what you can or cannot do with your business in the future.