2151 Main Street Suite 201, Sarasota, Florida 34237
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The Byrd Law Firm, P.A.

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The Byrd Law Firm P.A. is located in Sarasota, Florida and has been providing legal services to residents of Sarasota, Bradenton & Venice for the past 13 years.

Our Criminal Law & DUI attorneys, Derek Byrd & Drew Solnoki, are known for their aggressive and succes…

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Divorce Blog Post

Will I Lose My Business in Divorce Court?

Business owners face an additional hurdle during divorce proceedings. It is clear that marital property includes the condo, the vacation home, the family cars, and the sailboat, and that assets include checking and saving accounts, retirement funds, and investments. But what about your business?

If your ex- is not a business partner, the court will most likely rule that it is in the best financial interest of both parties that you continue as the proprietor. However, your business may be classified as marital property and its worth may be factored into the division of assets. You will need to get a professional business appraisal. Your ex-spouse may hire someone to appraise your business, as well, and if the valuations are different, you may be in for a much longer, more expensive court case.

Business owners facing a divorce should get the counsel of a knowledgeable divorce attorney who can guide them through each step of the process. You will need to find the right appraiser for your type of business so that you can present a convincing, realistic picture of your short- and long-term financial prospects. The court will also want to know what contributions each spouse made toward the success of the enterprise.

The Byrd Law Firm takes great pride in the success of our business, so we understand how important your business is to you. Our competent divorce attorneys will make sure you get a fair deal by using smart negotiating strategies, including mediation.

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The Byrd Law Firm P.A.
2151 Main Street, Suite 201
Sarasota, Florida, 34237 USA
941-315-6679