This is a rather complex question to answer and is definitely one you are going to want to sit down with a divorce lawyer and discuss in depth. However, to give you a broad understanding of what could happen to a business when a couple divorces below we highlight some helpful information for you.

There is a lot to consider when trying to determine what will happen to a business when two people divorce. The first thing you need to take into account is when the business was acquired. Did you and your spouse establish the business while you were married or did your spouse own his or her own business prior to entering into the marriage?

Generally, when a couple goes through a divorce, the assets they enter into the marriage with belong to them which means they would not be considered marital assets and would remain theirs once a divorce is granted [Source: Florida Statue §61.075]. On the other hand, if the business was acquired in the marriage, then it is likely the court shall consider this as a marital asset, and it would be subject to being divided. But what if your spouse entered into the marriage with a business and you invested into it once the two of you got married? What then? Would it be considered a marital asset or would it be a separate asset?

This is a very good question and in order to provide you with the most accurate answer, you are encouraged to contact The Law Offices of Jodie Bassichis, P.A. and schedule a time to come in and speak with a Hollywood, FL divorce lawyer Jodie Bassichis.

In some instances, if you can prove that you invested a significant amount of money and contributed to the success of the business, then the court may wish to divide ownership of the business. Now, if you do not wish to have any relation with your spouse once the divorce is finalized, yet you are awarded 50% of the business, you can always work out an agreement with your spouse (i.e. you can sell your portion of the business to your spouse). Under other circumstances, the court may not award you any percentage of the business despite the time you devoted to it as well as any monetary contributions you may have provided.

Based on the information presented above, if you are looking to maintain 100% of a business you owned prior to getting married or want to be sure the court awards you partial ownership of a business that was started while you were married, it is best that you retain an experienced Hollywood, FL divorce attorney who can help you secure a favorable outcome. If you would like to schedule an initial consultation now so you can begin receiving answers to the many questions you might have, contact our office today at (954) 963-7300.

The Law Offices of Jodie Bassichis, P.A. is located at:

Jodie Bassichis, PA

4700 Sheridan Street, Suite J

Hollywood, Florida 33021

(954) 963-7300

jbassichislaw@gmail.com

www.FloridaDivorceSource.com