Long Island Business Asset Division Lawyer
Protecting the Rights of Business Owners in Nassau County Divorce Cases
Divorce is rarely easy, but when you own a business, it can be especially difficult
due to the potential for struggles with your spouse over the division
of assets. Retaining a skilled divorce lawyer on Long Island to represent
you is essential for defending your interests in the business, whether
it is a joint venture with your spouse or if it was founded prior to your marriage.
At The Virdone Law Firm, P.C. we have extensive experience with complex
asset valuation in
high net worth divorce and the unique concerns of business owners, and an attorney from
our firm will work closely with you to achieve a divorce settlement that
works in your favor. We limit our number of clients at any given time
so that we can deliver personalized attention and focus to each case we
represent, as we know how important the outcome of your divorce may be
for your future.
Separate vs. Marital Property
One of the most important questions in a divorce where business assets
are at stake is whether the business is considered marital property or
separate property. If you and your spouse started the business together,
it will likely be subject to division, but if it was in operation prior
to the marriage, it will probably be considered as separate property,
though even in this scenario the amount of appreciation enjoyed by the
business since the marriage may be listed as marital property.
Helping You Resolve Your Legal Matter Quickly
New York State follows the principle of
equitable distribution in divorce, so the settlement is intended to be fair, rather than equal.
Whether you are involved in a
contested divorce or an
uncontested divorce, your attorney will seek to make a strong argument for why you deserve
to receive a larger percentage of any marital property, whether you are
seeking a continued ownership interest in the business or if you are pursuing
a cash payment for your share. We strive to avoid conflicts which could
drain your financial resources, and will attempt to resolve the issue through
mediation / settlement if at all possible, but we are prepared to go to court if necessary to
fight for your right to ownership of the business you have worked so hard to build.
Contact a Long Island business asset division attorney for an initial consultation about your concerns in the divorce and to
learn more about how we can be of service.