New Jersey Divorce Lawyer Discusses Equitable Distribution of a Business
As a dedicated New Jersey Divorce Lawyer, clients often ask how a business will be divided.
- The first thing that must be done to equitably distribute a business, is to have it valued.
- Both parties are entitled to have the business valued.
- If one person is still working at the business, the other spouse is only entitled to 1/3 or 60/40 the value.
- The parties can always litigate for more if one of the spouse happens to work at the business or has equal share in the business.
Do you own a business, and worried that your spouse may be entitled to a portion of the value? Contact experienced New Jersey Divorce Lawyer Salvatore Simeone for help.