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.