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Are you IN Business with your Spouse? The Smart Law Group has years of experience in divorce where business assets and ownership are an issue. The divorce between the owners of a business can be a difficult process for everyone involved. The divorce of the business owners may result in one partner buying out or selling their interest to the other partner, or even in the dissolution of the business entirely. In any case, it is important that all parties involved are aware of what is expected throughout each step of the divorce process to ensure that it is handled in a fair and equitable manner. The first step when addressing this is a Business Valuation. One will have to be completed to determine how much each partner's share of the business is worth. Typical valuations include gathering the basic information about the business itself, including? • all assets • liabilities • income statements • balance sheets This can then be used as a basis for negotiation or arbitration between both parties in the divorce agreement. If a divorce settlement is not reached, the court may order the sale of the business and distribute the proceeds between both parties. We're ready to help. Just contact The Smart Law Group to take the first step.