Divorce For Business Owners And Professionals
If you are a business owner or professional who plans to divorce, you have financial interests that need to be protected. The same is true of spouses of businesses owners and professionals.
At Lutins & Pilgreen, PC, in Roanoke, Virginia, our lawyers handle high-asset divorce cases that involve business interests, professional practices and other significant assets. If a divorce is in your future, we offer a initial consultation to discuss your case.
The Right Lawyers, The Right Experts
In Virginia, assets and debts accumulated during your marriage are subject to equitable division between you and your spouse. Exactly what is equitable is subject to interpretation. If one partner has a greater earning potential, the judge may award a greater share of assets to the partner with lower income. The judge may also award a greater share of debt to the spouse who has the greater ability to pay it.
Whether you are seeking to protect a business or practice or you want to secure your fair share, our lawyers will work hard to protect your financial interests. High-asset divorces require the use of experts who can:
- Value a business, including goodwill and reputation
- Uncover hidden assets
- Value contributions by the nonbusiness owner
In many cases, selling a business or practice and dividing the proceeds is not practical and could deprive both sides of income they will need to move on. It may be possible to negotiate asset swaps such as:
- Alimony in exchange for a spouse’s share in a business or practice
- A house or other assets in exchange for a spouse’s share in a business or practice
Our lawyers provide divorce planning services to help you identify legal steps you can take to protect your financial interests in the event of a future divorce.