Divorce For Business Owners
Owning a business is a source of pride for individuals. It takes time, hard work, sacrifice and more to build a successful, profitable business. Your efforts in building and owning your business make it critical that you seek counsel from an experienced lawyer if you, as a business owner, are getting divorced.
Our lawyers at Haugen Law Group, PLLC, are committed to helping business owners understand their rights and options in a divorce. Businesses are typically subject to division as an asset, but this is not always the case. Our firm has handled numerous cases involving high-asset divorces and businesses, and we are confident we can guide you down the right path.
A critical step in the process of dividing a business during divorce is seeing that the business is properly valued. When determining the value of a business, our firm has established relationships with outside financial experts, including business valuation professionals, forensic accountants and information technology experts, to support our client’s needs.
Dividing A Business
Since Minnesota is an equitable distribution state, the business will be divided fairly and equitably after it is thoroughly valued. This does not mean that the business will be broken up in all cases. Each situation is different. Some businesses can stay intact, with one spouse receiving a comparable asset to make up for the part of the business that is not being divided.
Providing You With Answers Backed By Years Of Experience
Our attorneys only handle family law and divorce matters, and we have a history of serving the legal needs of clients in Chaska for nearly 50 years. We strive to continue earning a reputation of trust and respect by working hard to do what is right for our clients. We are on your side.