Orange County Divorce & Separation Attorney
Business Division Lawyer in Orange County, CA
When a business is owned by both spouses, who are seeking a divorce, it will need to be decided as to who will keep the business. A judge will typically look at which spouse actually runs the business and may award the business as marital property to that spouse. If, however, both spouses share in running the business the judge may ask the spouses to either come to an agreement to let one spouse buy out the business over time, or trade other marital assets so one spouse can receive 100% ownership of the business. A small percent of the time, if the judge feels that both spouses can end a marriage but still work professionally together as an unmarried couple, then both spouses may be awarded equal parts in the business.
Orange County Divorce Mediation Lawyer
Since business division can be very complex, especially if you are going through a high net-worth divorce, you should seek the legal guidance of a qualified Orange County divorce lawyer. At the Law Office of Kevin B. Gibbs you will be provided with quality, compassion and a strong commitment throughout every step of your divorce. As an experienced lawyer I am very familiar with the law when it involves a family business and divorce, and I will work to make sure that your legal rights are protected when business division must be decided. As your future may depend on the income you receive from the family business, I will make every effort as your attorney to help make sure that whatever is decided on is in your best interest.
When handling a divorce that involves a business, it is critical for an Orange County divorce lawyer to effectively answer the following key questions:
- What is the value of the business?
- How have the husband and wife contributed to the success of the business?
- What role does personal goodwill have on the success of the business?
- Is the business properly classified as community property or separate property?
- Has an offer recently been made to buy out the business by a third party?
Orange County Divorce & Business Division
I believe that financial protection is one of the most important issues to resolve in a divorce. As a knowledgeable Orange County business division lawyer I will provide you with outstanding legal protection for your divorce case. I offer all potential clients the opportunity to meet with me during a free initial case consultation, and I handle cases throughout Orange County, California including: Orange, Santa Ana, Irvine, Anaheim, Yorba Linda, Newport Beach, La Habra, Anaheim Hills, and Riverside County.
I also offer mediation services to clients who would like to sit down with their spouse to make an effort to reach an agreement and avoid many court appearances altogether. Please contact me today to see where your case stands and what should be done next to safeguard your future.
Need help with business division issues in your divorce? Contact us today!