How does divorce impact my business or business assets in Florida?
When a party to a divorce or support action owns their own business, any family court action becomes more complex. In addition to the sometimes difficult task of determining the actual income for a self-employed individual, it is sometimes also necessary to determine a value for the business. One of the questions that must be answered is whether the business that is owned by an individual spouse is a marital asset and, if so, what is the value of that marital asset. Once the business is characterized as a marital asset, a business valuation expert can be retained to help determine the marital value of the business. Once that value is determined it is subject to the principles of equitable distribution. Even if the other spouse did not take an active role in the business they are still entitled to half of the business due to the fact that the business has been categorized as a marital asset. If the court determines that the business is in fact separate property then the business is not subject to equitable distribution during the divorce.Consultations are available in Miami and at several meeting locations throughout Dade and Broward Counties including Lincoln Road in Miami Beach, West Country Club Drive in Aventura, Hollywood Boulevard in Hollywood and in the Homestead area. Appointments are also available by telephone and via Skype internet video chat. Telephone our office at (305) 222-7351 or send us an email to schedule a consultation.
When scheduling a consultation, please inform the secretary if there are any pending hearings, deadlines for filing an appeal, or other reason why you may need an immediate appointment. We will do our very best to accommodate your schedule in setting an appointment.
The statements in this section are based on Florida law and have been issued to inform and not advise. The statements are general in nature and individual facts in a given case may alter their application or involve other laws not referred to here.