There are many challenging elements in a divorce, including emotional, financial and personal implications. One of the essential considerations is receiving a fair share of marital assets. But the process can be even more complex when a family-run business is in the picture.
Ending a marriage can be messy and complicated, but the process gets even trickier when both spouses are engaged in running the company. Going forward, each spouse must declare their intentions, whether to stay involved or how they want to divide the asset.
The first step is to get the company appraised by a neutral third party. Once the value is established, there are typically three options:
No single approach for dividing a family business works for every couple. Some may not have a problem working together even after divorce. However, others find it much easier to put the entire relationship behind them. An experienced family law attorney here in North Carolina can help you determine which method works for you to receive the best outcome and prepare for the next stage in your life.