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.
-
“I didn’t expect to find a divorce attorney as amazing as you!”- Deborah
-
Amazing, Skillful Mediator!!!! We went to see Lois Brenner for a mediation consultation. We had pretty much decided our marriage was over. We just wanted to end things fair and amicably. Lois Brenner spent so much time with us, and gave us great insight as to how the process would help us, we hired her on the spot. Our sessions thereafter were stealth. She organized us, helped us identify and address all the issues. She showed us how to communicate effectively throughout the process. We were able to address all our issues, especially property and finances, arrive at a comfortable settlement agreement, and now we are waiting for the judge to sign our divorce. What an extraordinary process. I highly recommend Lois Brenner and mediation. She’s super, and mediation really works.- Maggie and Josh
-
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.
-
Amazing, Skillful Mediator!!!! We went to see Lois Brenner for a mediation consultation. We had pretty much decided our marriage was over. We just wanted to end things fair and amicably. Lois Brenner spent so much time with us, and gave us great insight as to how the process would help us, we hired her on the spot. Our sessions thereafter were stealth. She organized us, helped us identify and address all the issues. She showed us how to communicate effectively throughout the process. We were able to address all our issues, especially property and finances, arrive at a comfortable settlement agreement, and now we are waiting for the judge to sign our divorce. What an extraordinary process. I highly recommend Lois Brenner and mediation. She’s super, and mediation really works.- Maggie & Josh
-
Lois Brenner is a remarkable attorney and compassionate advocate for dads. She guided me when I was confused and didn't know what to do to get shared custody of my daughter. She encouraged me to stay strong and to fight, and she negotiated a much better custody arrangement than my previous lawyer. What great attorney. Thank you Ms. Brenner- Christoff
-
I had read about Lois’ unusual divorce method in one of her blog posts. It was refreshing to see someone was working with the psychological issues in divorce. My husband is bipolar and getting him to agree to a divorce and commit to the process was tough. When we met with Lois she really understood him. She immediately identified his mental health issues, and because she has a psych background, she was empathetic to his needs and was skillful at guiding him through her divorce mediation process. It took a while but she really got us to a point where we could actually discuss things without my husband blowing up. Her method is unique and it really helped in our situation. She actually recommended a great psychiatrist who changed my husband’s meds at her urging (she has a medical degree too), and my husband is coping much better. We can’t thank her enough for her compassion and advice! If you need a divorce attorney, especially if mental illness is a part of the fabric of your marriage, go see Lois! Thanks Lois - Beena T.
-
We were looking for a mediator to help us with visitation issues we were having due to the pandemic. With all the problems we were having getting the kids back and forth, and arguing about taking trains and buses during visitations, we called Lois Brenner to help us make some decisions. She really set us straight. She spent a lot of time with us so we could get a parenting agreement together to set some rules we could both agree to. I feel a lot better now. Thank you Ms. Brenner.- Dina
-
Connecting with Lois was the best thing that could have happened during what has been very difficult and fraught divorce. Lois took on my case with knowledge, wisdom and care that have been above and beyond in every way. She recognized abusive and unstable behavior in my ex-husband, and offered both strong legal guidance, as well as personal encouragement and strength to stand up to him. Her support has been invaluable to me, and I am so deeply grateful for everything she has done in helping forge a better more stable future for me and for my son.- SC
