Divorce For Small-Business Owners
Many small businesses are co-owned between spouses. In other cases, one spouse owns the business alone. For business owners and their spouses going through divorce, it is crucial to retain a family law attorney capable of handling the issues they face when it comes to division of assets.
The attorneys and staff of Clark Law PLLC are equipped to help you achieve your goals related to a family-owned business. We represent business owners and their spouses. As your attorneys, we will seek a reasonable outcome that respects your property rights under New Hampshire divorce law.
What Happens To A Small Business When Divorce Happens?
As a business owner, you do not want your company to be harmed by the divorce process. Or if you are married to a business owner, you do not want to be denied your rightful share of the business, which might be the most valuable asset you and your spouse own.
Owners sacrifice and work hard to turn their small business into a success. So do their spouses, even if the spouses never directly invest work or money into the company.
Matrimonial law recognizes that a spouse’s indirect contributions to a small business allow the business owner to focus on their job. For example, a spouse can serve as the children’s primary caretaker and homemaker while the other spouse spends time at the office. In cases like this, an ownership stake in a small business is considered marital property. Each spouse is entitled to an equitable share.
Customized Asset Division Strategy
You have several options for determining what to do with a small business in divorce. Often, our lawyers are able to negotiate a settlement that buys out the spouse’s share and lets the owner keep the business intact. We will explain your choices based on your stated preferences and proceed according to your direction.
Contact Clark Law PLLC by calling 603-473-4338 to schedule a confidential consultation with one of our attorneys. You can also contact us by email. We represent clients in and around Manchester, New Hampshire.