Getting divorced from your business partner

Every divorce comes with its own unique challenges. In your case, your problem may be determining what to do if your soon-to-be ex-spouse also happens to be your business partner. For instance, how do you restructure your company in Massachusetts, and how do you go about the business buyout and/or valuation process? Here is a glimpse at what the  divorce process entails when a family business is at the center of it.

If you are getting divorced from your business partner, an attorney will first critically evaluate all financial aspects of the business. Accountants may be used to help in this process. Then, your attorney will make sure that your business is appropriately valued.

The attorney will also take the necessary steps to uncover any assets that your future ex may have hidden from you. The attorney’s goal is to make sure that you understand what your options are when it comes to dividing your business assets as well as your debt liabilities. Then, the attorney will help you to pursue the best property division outcome considering the circumstances surrounding your business and your divorce in general.

For the last century, we have been helping Massachusetts business owners navigate divorces of all types. Since 1918, the attorneys of Seder & Chandler have excelled at facing complicated and fast-moving legal issues, from complex corporate law, commercial real estate law and estate planning, to acting as counsel for business and personal matters. Contact us today to learn how our combination of traditional commitments and flexibility has given us a legacy of 100 years.