What Can Happen to My Business if I Get Divorced?

Get The Legal Help You Need!

Are you worried you might lose your business along with your marriage after a divorce?

Hi, I’m Sergio Cabanas, Attorney-at-Law here in Florida.

Thank you for joining us today.

Today we’re discussing what can happen to your business in the event of a divorce.

Dividing assets in a divorce can be a very long and somewhat complicated process.

However, it all boils down to how the courts determine whether or not your business is a marital vs non-marital asset.

As a general rule, under Florida Law, all assets acquired during a marriage are normally considered to be marital, which is subject to being divided equitably between the spouses in the event of a divorce.

However, if you started the business before you were married, or you inherited the business, the courts will consider the possibility that these are non-marital assets, unless marital assets were

commingled with the non-marital assets.

These situations may require the involvement of a forensic accountant to make this determination.

In the event we determine that at least a part of the business is considered to be a marital asset, then comes the hardest part, which is: How do we value that portion that is considered marital?

For more information about this important topic or other related issues, feel free to check out or other videos by clicking on the link above or on the description.

I hope this short video provided you with some information about this very important topic.

Especially if you’re own a high-net-worth business.

Thank you again for joining me and as always, stay informed so you can stay strong.

Copyright © 2024. Divorce & Mediation Law Firm | Cabanas Law Firm. All rights reserved.  

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.

Divorce & Mediation Law Firm | Cabanas Law Firm
18503 Pines Blvd, Suite 301
Pembroke Pines, FL 33029
(954) 447-2580
https://cabanaslawfirm.com

Author

Sergio Cabanas, Esq. founded the Cabanas Law Firm in 2006 and provides Divorce and Family legal services, as well as Estate Planning, to ensure his clients have planned for their newly single life and are protected after their divorce. He began his career in law in 1992 as a prosecuting attorney at the Broward County State Attorney’s Office, then continued his litigation track as an insurance defense attorney defending medical professionals against medical malpractice claims and expanded into disability and life insurance claims. Sergio is a Certified Mediator registered in the Supreme Court of Florida and a frequent speaker in the community about the importance of Estate Planning to keep families out of probate court and to prepare essential instructions in the event of disability or incapacity.