Divorce Lawyers for Business Owners in Gaithersburg, MD
Divorce for Business Owners in Gaithersburg, MD
Divorce is an uncertain time, especially when you are a business owner and understandably concerned about how the future of the company you worked so hard to build will be affected. Because the divorce process is so complex, particularly when a business is in the mix, legal assistance is essential for protecting yourself, your employees, your financial health, and your future.
With over 100 years of collective experience, Z Family Law can help you develop smart strategies for safeguarding yourself and your business throughout divorce. As divorce lawyers for business owners in Gaithersburg, our goal is to help you overcome this hurdle so you can set yourself up for a new and improved life going forward.
Because we know that family law matters affect nearly every aspect of your life, we also offer concierge services for your non-legal issues, because we believe that you deserve the best possible support throughout this time.
Let us help you create your new beginning. Reach out to schedule a free case evaluation today.
What You Need to Know About Divorce as a Business Owner
When you are getting divorced in Maryland, it’s important to understand that assets are divided according to the principle of equitable distribution. According to equitable distribution, assets are not divided in a strictly equal manner. Rather, marital assets, which potentially include your business, are divided according to what the court considers fair or balanced.
If the court determines that your business is considered a marital asset, it could be subject to division. Marital property is defined as any asset that was acquired during the course of your marriage, and these assets are considered jointly owned. Some exceptions exist, such as inherited assets and gifts, which are considered to be solely owned by the recipient so long as they are kept separately from marital assets.
Separate property, on the other hand, includes assets that were acquired before your marriage. If your business was founded before your marriage, you might assume it’s separate property. However, there are circumstances in which separate property might still be subject to division. If your spouse contributed funds or labor to your business, for example, they might be entitled to a portion of your business.
Working with our divorce lawyers for business owners in Gaithersburg ensures you have the strategic legal advice and zealous advocacy you need to protect your business and your future.
Divorce Lawyers for Business Owners in Gaithersburg: How We Can Help
At Z Family Law, we believe that knowledge is the antidote to uncertainty. We are by your side, guiding you through the significant aspects of divorce, especially as they relate to your business. Some of the steps with which we can assist you include:
- Business valuation: By working with expert business valuators, we help you determine the value of your business so you can better understand your interests as an owner.
- Negotiating: The ability to work with your spouse to create mutual resolutions means that the process is less stressful and both parties can walk away with what they need to thrive post-divorce. When you are in control of the outcome, you have the power to pursue the results you want.
- Mediation: If you and your spouse are having trouble cooperating, mediation is a great option for resolving your divorce without having to go to court. Mediation allows you and your spouse to tailor solutions for your business and the rest of your divorce decisions.
- Litigation: When cooperative methods like negotiation and mediation don’t pan out, your case has to go to trial. Our divorce lawyers for business owners in Gaithersburg will fight to protect you in court with strategies backed up by years of experience and specific knowledge of how the judges, and the court more broadly, operate in Montgomery County.
Z Family Law: Our Business is Protecting You Through Divorce
At Z Family Law, we want to protect what’s important to you, including your business, your family, and your future. If you are ready to get started, reach out for a free case evaluation and let us begin working on the strategies that are right for you.
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.