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 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 - Lorna P.
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“We are forever grateful!”- Donna and Frank
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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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Lois acted as the mediator in my divorce, and she was absolutely excellent. It was a very difficult time for me personally, but Lois made the process as easy and painless as it could possibly have been. She listened to each of us separately, and made thoughtful and helpful suggestions. She is fair, and seemed to genuinely care about finding a solution that was best for both parties. Lois is perfectly qualified to handle this type of situation, given her background in psychology. She truly understands people, and used this ability to keep my ex-husband and I calm, and smoothly navigate a few tricky situations. I felt very understood by Lois, and think that she not just a top-quality attorney, but also a very decent person. She is responsive, and answered my emails within a couple of minutes every time. Highly rated!
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“Expert, Compassionate Counsel”- Alisa
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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 had a complicated situation wherein I had to get a divorce through publication as my husband and I had not been in contact for 5 years and I was out of the US for a few years. (it was an abusive marriage) I reside in Buffalo and I spoke with several attorneys locally but I did not feel that any of the local attorneys were able able to understand my situation. Some suggested that I locate my husband, and each one of them wanted to start by identifying and listing the assets. Unsatisfied, I started looking for attorneys in NY city, and I found Ms. Brenner through Avvo. During the consultation, she was extremely kind and understanding and agreed to take on my case. Ms. Brenner helped me get a divorce through publication and she/her team took care of everything. All I had to do was provide her with documentation. I am grateful to Ms. Brenner for helping me get out of a sticky stressful situation. I would definitely recommend her to anybody in a similar situation. Thank you, Ms. Brenner.
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- Lois M. Brenner, Esq.
"My medical and legal training allow me and my team to look beyond the surface conflict of a divorce and understand the emotional and psychological dynamics often shaping it. When you understand what is truly driving the dispute, you are better equipped to protect your family, make sound decisions, and move forward with dignity."
