Family Law

Protecting Your Business in a Divorce

By Ben Stevens

When one or both spouses own a business, things can get very complicated very quickly in a divorce or separation case.  For instance, unless the parties can agree on the value of the business (which is extremely rare), one or both parties must hire an expert witness to conduct a valuation. 

This process can easily run several thousand dollars for each spouse, and it is not uncommon for the experts to end up with drastically different values for the business.  The credentials of each expert and the validity of the data are closely scrutinized in such situations.

Cathy Hunt of Gailor, Wallis & Hunt, PLLC has written two articles explaining how to protect your business in a divorce, and it is an excellent read on this subject.  If you own a business yourself, or if you know someone who does, you owe it to yourself to review these articles.  You can click the following links to read Part One and Part Two.

Source:  "Protecting Your Business In a Divorce" by Cathy C. Hunt, published at North Carolina Family Law News.

Full post as published by SC Family Law Blog on July 16, 2008 (boomark / email).