Divorce Lawyers for Business Owners in Germantown, MD
Divorce for Business Owners in Germantown, MD
Divorce is often the right decision for a marriage that is no longer working for one or both spouses, but the fate of your business could hang in the balance if you’re an entrepreneur. You have worked tirelessly to establish and grow your business, so the prospect of losing your hard work and livelihood is understandably stressful and anxiety-inducing.
At Z Family Law, our team of divorce lawyers for business owners in Germantown have the knowledge and experience to fiercely advocate for you and your best interests. We can help you explore your options, build a strategy, and safeguard your business, your family, and your future. As a team, we have over 100 years of experience practicing family law, and we work together to strategize on your case, both in and out of the courtroom.
While our lawyers work to defend you and your business, our concierge-style support is available to help with referrals for trusted partners to handle your home, finances, and other non-legal essentials. With our 360-degree coverage, your future is in the right hands.
If you are ready to get started on your new beginning with a legal team you can depend on, reach out to schedule a free case evaluation today.
What You Need to Know About Divorcing as a Business Owner
In a Maryland divorce, your personal property is divided according to the principle of equitable distribution. Simply put, all property acquired during your marriage will be divided between you and your spouse according to what the court considers balanced rather than what is strictly equal.
Only marital assets are divided during divorce. Marital assets are any property you acquired during the course of your marriage, with a few exceptions such as inheritances and gifted assets (as long as they are kept separated from marital assets). Separate assets are any property you already owned prior to the marriage; these types of assets are not divided and are considered to be owned solely by you.
If your business was founded during your marriage, your spouse might be able to stake a claim. On the other hand, if your business was founded prior to the start of your marriage, it may still be a property of interest during your divorce if your spouse contributed in some significant way. To learn more about how your business factors into your marriage, it’s essential to discuss your specific circumstances with our divorce lawyers for business owners in Germantown.
Remember that if your business is caught up in your divorce, it’s not just you who will be affected: your employees, shareholders, and executives all have an investment in this process. Working with comprehensive legal counsel protects all who are involved.
Divorce Lawyers for Business Owners in Germantown: How Z Family Law Can Help
When you work with Z Family Law, you have access to legal counsel on whom you can rely. We are responsive, thorough, and knowledgeable in all the areas you need to safeguard your business and future. We can help you through all aspects of divorce as a business owner, including:
- Business valuation: Determining the value of your business helps protect you and your interests. We work with expert business valuators to accurately assess the worth of your business so you don’t get stuck with a bad deal.
- Negotiating: When you and your spouse can work together toward solutions, you can reach a deal that works for both of you. When you don’t have to fight for a resolution, you can move forward with less stress and more peace of mind.
- Mediation: Cooperating with your spouse usually results in a settlement that is more favorable for both parties, which is why mediation can be a great alternative to going to court. Mediation allows you and your spouse to tailor solutions in a private setting, giving you more control over the outcome, reducing stress and keeping costs lower.
- Litigation: If mediation and negotiation do not work out, going to court is your last chance to defend your interests. Our divorce lawyers for business owners in Germantown can help you fight for your future.
Z Family Law Can Help You Protect Your Business
At Z Family Law, we have the experience to defend you and your business so you can move on successfully after your divorce. We want to make a difference and help you preserve your livelihood. If you are ready to get started, reach out to schedule a free case evaluation and learn more.
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.