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NEW YORK CITY & WESTCHESTER FAMILY LAW BUSINESS ATTORNEY

Protecting Your Business Interests

Many high asset divorces include a dispute over the ownership of a business, which requires the help of an attorney with experience with commercial law. That’s why high net worth individuals turn to the New York City and Westchester family law business attorneys at GourariLaw to protect their business interests in a divorce. Even if you’re the sole owner of your business on paper, your spouse may have acquired an interest as a result of work they have done for the company or by staying home to care for your children. You may think you’re bulletproof because you have prenuptial and postnuptial agreements with provisions that secure your interest in your business, but these documents are often challenged in a divorce.

andrea-piacquadio

How To Protect Your Business Before and During a Divorce

The best way to protect your business is to plan ahead by executing a prenuptial or postnuptial agreement that clarifies what will happen to the business upon divorce. Without such an agreement in place, you could be required to buy out your spouse’s interest in the business, and if you cannot afford to do so, you could be forced to sell your business and share the proceeds. A well thought out prenup or postnup can clarify exactly what will happen to the business upon divorce. If you don’t have a prenup or postnup, it’s important to show how important your personal goodwill is to the continuation of the business. If there are children of the marriage, you’ll need to show how keeping the business running is in their best interest as it will maximize the amount of money that will be available to provide for them. Whether your business is a professional practice, a retail store or a major interest in a large corporation, the experienced New York City family law business attorneys at GourariLaw can help you estimate your upside and downside and protect your interests.