Margaret Gettle Washburn, P.C.
(770) 676-1191
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Divorce can end a business partnership as well as a marriage

When a marriage in Georgia comes to an end, both spouses may experience emotional and financial challenges. These challenges can be exacerbated when a high-value family or personal business is also involved in the divorce. A business is not only a significant financial asset but also a center of emotional and professional development for one or both spouses.

In fact, the business may be the most valuable asset brought to the table during divorce negotiations and settlement. In a high-value divorce that involves a successful business, the practical realities, as well as the high emotions around dividing up the business and its assets, can be one of the most challenging aspects of the property division process. One of the first steps in assuring as smooth a process as possible is developing a full understanding of the correct valuation of the business.

A forensic accountant, appraiser or other professional may be best placed to provide a full overview of the assets, liabilities, growth potential and other matters affecting the value of the business. This can also include real and movable property that belongs to the company, as well as intangible properties like reputation and the trade name of the enterprise.

Dividing the company can be done in several ways, including selling the business and splitting the shares, arranging a buy-out by one partner or dividing other assets to compensate for one partner retaining sole ownership of the company after divorce. Businesses begun before marriage may be handled differently than those that launched after the marriage.

Sorting out a high-value divorce, especially one involving a complex or growing family business, may benefit from the services of an experienced lawyer. By working with a family law attorney, divorcing spouses may be able to protect their interests and those of the business.

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Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
Lawrenceville Law Office Map

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