Our Orange County Divorce Attorneys Understand the Needs of Business Owners in a Divorce
As an entrepreneur, getting divorced can present some difficult questions regarding the ownership of your business, intellectual property, and other assets. California’s default community property rules apply, but applying these rules to an early-stage business requires a comprehensive understanding of how the business is structured, when it was formed and to what extent (if any) your spouse has played a role in the business’s growth. Depending on the circumstances involved, your entire business could qualify as community property that is subject to equal distribution; the entire business could be yours to keep; or, as is often the case, a portion of your business could be at risk in your divorce.
Of course, getting divorced involves issues beyond determining how you can protect your business. Dividing your other assets, dealing with alimony and child support, and establishing child custody rights are all fundamental components of the process as well. As an entrepreneur, all of these issues are important (to the extent that they apply), and they all require careful attention. An effective divorce strategy will address all of pertinent issues in tandem, and it will be designed to achieve a positive outcome that protects your business and other interests to the fullest extent possible.
Protecting Your Business and Other Interests During Your Divorce
With regard to protecting your business, there are several factors that need to be considered. Our Orange County divorce lawyers have represented numerous entrepreneurs in divorce, and we have particular experience addressing issues such as:
- Valuation of Early-Stage Businesses – Valuing a business for purposes of a divorce differs from valuing a business for other purposes. Our lawyers can help you obtain an appropriate valuation and use it to your advantage.
- Determining the Separate or Community Property Nature of Privately–Held Businesses – Your business’s start date is an important factor for determining whether and to what extent it is at risk in your divorce, but it is not the only factor that requires consideration. We can make sure your business is not put on the table unnecessarily, and we can pursue various options for protecting any interest to which your spouse may be entitled.
- Handling Intellectual Property (IP) and Other Business–Related Assets – If you own IP or other business-related assets personally, these will need to be addressed separately from your business in your divorce. Our lawyers can work to make sure you retain all of the assets you need to continue growing your business.
- Negotiating for Sole Ownership of Privately-Held Businesses – Typically, it will be in entrepreneurs’ best interests to negotiate for sole ownership of their businesses. There are various strategies available, and we can use our experience in high-asset divorce negotiations to steer your divorce toward a favorable result.
- Implications of Business Ownership for Alimony, Child Support and Child Custody – Finally, business ownership can impact alimony, child support and child custody in various ways. As your divorce counsel, we will work closely with you to ensure that we are pursuing the best overall outcome in light of the particular circumstances involved in your divorce.
Schedule a Confidential Initial Divorce Consultation in Orange County, CA
If you have questions about the implications of getting divorced as an entrepreneur, we invite you to schedule a confidential initial consultation with one of our experienced Orange County divorce attorneys. To request an appointment, call us at 949-474-0800 or tell us how you would like to be contacted today.