Divorce Lawyers for Business Owners in Columbia, MD
Divorce for Business Owners in Columbia, MD
When you are getting divorced, you likely have pressing questions about what it means for your family, finances, and future. As a business owner, it’s important that you understand that your business adds layers of complexity to the process. Depending on your unique circumstances, divorce could put your hard work at risk, which is why it’s essential to engage the help of experienced divorce lawyers for business owners in Columbia.
At Z Family Law, we can help you navigate the legal process and protect what’s important to you, including your business. We work closely with you to craft personalized legal strategies that address your needs and prioritize collaborative solutions to save you time and stress in the long run. We know that your business represents years of dreams and hard work, and we want to make sure that you are protected as you move onto the next successful chapter of your life!
If you are ready to get started, reach out today to schedule a free case evaluation.
What You Need To Know About Divorce as a Business Owner
One of the most important things to understand about divorce in Maryland is that your marital assets will be divided according to the equitable distribution model. Equitable distribution means that your marital property will be divided based on a variety of financial factors to achieve what the court considers a “fair” division, rather than an automatic 50-50 split.
Only marital assets are subject to division during divorce. Marital assets include any property that was acquired by either spouse during the course of the marriage, with some exceptions such as inheritances and gifts. On the other hand, separate property is anything you already owned going into your marriage. This type of property is generally not subject to division during divorce, as long as it has not been mixed (commingled) with marital property.
Your business might be considered a marital asset. Even if your business was founded prior to your marriage, it might not be as simple as assuming you are protected. There are circumstances in which separate assets can be converted to marital assets, or, if your business grew after you tied the knot, your spouse may be entitled to a portion of it, which is why it’s essential to collaborate with our divorce lawyers for business owners in Columbia to safeguard what you’ve worked so hard to build.
Divorce Lawyers for Business Owners in Columbia: How We Can Help
When you are dealing with divorce as a business owner, Z Family Law can help you navigate the process and defend your business. We can help you with steps including:
- Business valuation: We partner with expert business valuators to determine the accurate value of your business, including its future earning potential, ensuring precise assessments that protect your interests. Without accurate business valuation, you risk potentially losing more than you stand to gain.
- Negotiation: When you are able to cooperate with your spouse to reach a settlement that benefits both of you, you can save a lot of time and stress. We can help guide you through negotiations and reach creative solutions, ultimately giving you more control over the outcome.
- Mediation: The process of mediation allows you and your spouse to collaborate on personalized solutions. During mediation, you are in control, and you don’t have to worry about going to court in order to make decisions about your business.
- Litigation: If you and your spouse cannot reach an agreement through negotiation or mediation, litigation means that you will go to court to settle the divorce. At Z Family Law, we will fight for your interests and the protection of your business.
For every step of your divorce, Z Family Law stands by your side and works diligently to prioritize your interests while setting you up for a better future.
Z Family Law Protects You Throughout Your Divorce
At Z Family Law, we understand what divorce means for you as a business owner. Our divorce lawyers for business owners in Columbia will work with you to develop personalized strategies that serve your interests and set up the future you have envisioned. Reach out to schedule a free case evaluation and learn more about how we can guide you throughout the process.
Frequently Asked Questions
Do I have to go to court in order to get divorced?
No. If your divorce is uncontested, meaning you and your spouse are in alignment on the terms of your divorce, you can settle out of court without the involvement of a judge (though you will still have to briefly appear in court for a short hearing to finalize your settlement and obtain a judgment of absolute divorce). However, we highly recommend every divorcing couple review their marital settlement agreement with a family law attorney before signing it, just to make sure you know what you are agreeing to!
How can I prove fault in my divorce?
If you want to allege some fault that led to the breakdown of your marriage such as adultery, abandonment, abuse, mental health issues, or substance addiction, you should do all you can to document the incident(s) including saving any kind of relevant communications such as texts or emails. Speak with our lawyers about your options, and we will begin the process of making a case for your interests.
Is Maryland a community property state?
No, Maryland is an equitable distribution state, meaning that any property acquired during the marriage (marital property) will be divided equitably but necessarily equally in a divorce.