Business Partnerships & Corporate Entities in Divorce
Do You Own a Business with Your Spouse?
The strain of a divorce is usually an emotional time and a financially uncertain one. Partners who are ending a marriage and who own a business together, however, can face even more challenges. These situations are common, with over a million U.S. businesses being owned and operated by married spouses, but they raise unique circumstances and difficult questions in the face of divorce. How many of these businesses manage to survive?
Business assets in a divorce settlement are often the subject of conflict. For this reason, you will want to retain the services of Lois M. Brenner, Esq., a highly skilled New York divorce attorney. Over the last 35 years, our lead attorney has helped many divorcing business partners successfully manage their complex and sophisticated joint business interests, making her uniquely qualified to handle the financial challenges involved in your case.
How Business Relationships Are Addressed During Divorce
It is common legal advice for married business partners going through a divorce that one partner buy out the other. Because there is an objective measure of value inherent to a business, separating partners can arrive at objective figures and then divide. However, when business assets are distributed, payments are not always lump-sum, and may involve slower payments over time or without interest.
It is to the advantage of both spouses to cooperate, since the business may support both spouses in post-divorce life. In some cases, separating partners may not have the same goals or interests with respect to the business, which makes selling a business and splitting funds an equitable option. Although it is an option, it is a risky choice for partners who will soon be in divorce court.
Sometimes, one partner may keep the business and the other keeps different assets. Separating spouses have a lot to consider, and even more so when those spouses own a business together. As with many other issues that arise in divorce and family law proceedings, the best option depends on whether spouses can amicably arrive at agreements and the unique facts and circumstances involved. When there are difficulties, working with an experienced attorney should be a priority. We can help you analyze the possibilities.
To learn more about how we can help, call Lois M. Brenner, Esq. today at (646) 663-4546.
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I utilized Lois's services for divorce. She was most helpful in all aspects. First, she explored reconciliation, which was the right thing to do. Absence of that, her suggestion of what to negotiate for, how to do it without unnecessary anger & hostility to the ex & how to expedite the process was invaluable. Timewise she was excellent & sympathetic to what I was going through. She was always available & her fees were very reasonable. I would strongly recommend her as a divorce /representative attorney.
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I met with Lois Brenner nine months ago, and my life has been changed for the better! She and her legal team really encouraged me to leave a very abusive husband. They gave me the knowledge and courage to take the necessary legal steps. My parents were helping me and found Lois to be smart, and compassionate. My whole family felt really comfortable having her handle my case. I am finally divorced, away from an abusive man and ready to start a new life. I can’t thank Lois and her legal team enough for all the support I received. I got a much better settlement than I expected because they were relentless in locating money my husband had hidden. Thank you so much!- Kim B.
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“You are truly the best divorce attorney in New York!”- Christine
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Lois Brenner was great to work with. She was very thorough and efficient! I would recommend Lois to anyone seeking an amicable divorce.- RW
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“You are New York’s best divorce lawyer!”- Danielle
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What a gem! Lois Brenner is the best out there by far... She got my husband and I right away. Listened, guided, let me cry, and never gave up on us during our mediation sessions. It was not easy but she made it possible. Even my husband liked her and agreed to mediate after we had lots of arguments. Thank you Lois. I already recommended you to my cardiologist. Have a happy, productive New Year.- Bernie A.
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I have hired Mrs. Brenner and had the best experience with her in my complicated and intense divorce. She was there for me all the way, always answering promptly any questions I had. She gave me the best advice, in such a caring and kind way. She has an amazing team of specialists, that will cover any needs you might have. I highly recommend Mrs. Brenner, you can feel she’s got your back!- JN
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I am a highly successful money manager and before meeting Lois Brenner, hiring a divorce attorney was a disaster. Two previous divorce attorneys really wasted my funds, and had no savvy when it came to asset and property distribution. Lois Brenner finally fixed the mess I was in. She and her team of financial experts, including attorney Matthew Ehrlich were able to prepare an asset and property distribution that was realistic, keeping in mind tax ramifications, and important distributions and allocations. They negotiated a thorough and financially sound divorce settlement. If you have a lot of assets, just any divorce attorney won’t do. You really need someone with a lot of knowledge. Lois Brenner and Matthew Ehrlich were really impressive. Thanks!!- Michael C.
