One of the most complex property division issues stemming from a divorce is dividing a family-owned business. While dividing marital assets is a highly contentious aspect of divorce cases across the country, determining how much of a business each spouse is entitled to can present to be more of a challenge.
It is crucial that married business partners who are considering getting a divorce seek legal representation from an experienced Denver divorce lawyer at Goldman Law, LLC.
Important Factors When Dividing a Business
In a Colorado divorce, a number of factors are taken into serious consideration when it comes to dividing a business between parties. Some of these factors include:
- When the business was started – Determinations regarding the division of business depends on whether the business was started before the marriage or during the marriage.
- The value of the business – It is important to evaluate the specific assets held by the business and just how much the business is worth.
- The liabilities of the business – Apart from corporate assets, dividing a business in a Colorado divorce also involves the distribution of corporate liabilities.
- How much was invested in the business – The total investment made by each spouse in a business will also be taken into consideration—whether the investment is financial or in the form of time and effort.
- Any increase in business value during the marriage – Although a business may have been started by one spouse before a marriage, one factor to be taken into consideration is whether or not the business has increased in value throughout the course of the marriage. Any increase in value may help determine if there are shared interests in the business or not.
Contact the Denver Divorce Attorneys at Goldman Law, LLC
If you are undergoing a divorce in Colorado that involves dividing a business or other complex assets, consult with a trusted Denver divorce attorney at Goldman Law, LLC. We are ready to stand up for your rights and protect your best interests, and will help you resolve your case in the most efficient and favorable manner possible.
Call Goldman Law, LLC at (720) 336-2362 or email us using the contact form on this page to schedule a professional case evaluation and learn more about your rights. We serve clients in Denver and all throughout Colorado.