Navigating Divorce? Hire a Seasoned Business Owner Divorce Attorney

A business that was started, bought, or consolidated during the marriage is typically considered marital property. Even if only one spouse was involved in running the business, both may have a claim unless proven otherwise.

If a business was owned before the marriage, it may be considered separate property. However, the courts will assess how the business changed during the marriage before finally excluding it from the division.

A valid prenuptial or postnuptial agreement can prevent a business from being treated as marital property and divided during divorce. These agreements clearly state the ownership of personal and professional assets among spouses.

If one spouse used marital funds or contributed to support the other’s separate business with their time and effort, they are entitled to financial reimbursement in return for their contributions from the owner.