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Do Your Marital Assets Include a Business? Our Experienced Attorneys Know How to Navigate This Process.

Long Island Business Asset Division Lawyer

Protecting the Rights of Business Owners in Nassau County

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 family law and 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, 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.