Divorce and Small Businesses

Sometimes spouses operate a family business, a “mom and pop shop,” or another jointly managed service. When these spouses decide to divorce, deciding what becomes of the small business can be a tricky process. Issues such as ownership, assets, and income will have to be decided upon.

A knowledgeable divorce attorney may be able to help spouses navigate this minefield of legal requirements and financial concerns. At Fischer & Van Thiel, LLP, we have the experience to assist with your unique situation. To find out how we can help, call our Oceanside divorce attorneys at 760-722-7646.

Concerns About Small Businesses During a Divorce

Often, both spouses depend on the same small business for their income. When they decide to divorce, they may not wish to cooperate closely on business matters. Therefore, ownership of the business comes into dispute. There are a host of problems that will need to be considered in your divorce settlement, including:

• Stake in the company
• Ownership of business-related vehicles
• Payment for office space
• Share of company funds
• Tax liability

In many cases, one spouse essentially buys out the other spouse’s share in the company. Whatever you decide, you want to ensure that you get a fair deal. Experienced legal counsel can be very helpful in keeping track of legalities as well as advocating for your interests in a divorce settlement.

Contact Us

If you are divorcing and have questions about the future of your small business, call the Oceanside divorce attorneys of Fischer & Van Thiel, LLP, at 760-722-7646.