Goldman Law Offices

Free consultations for all personal injury and criminal matters

Protecting and dividing a business during divorce

Pennsylvania families who are concerned about protecting their children's business interests in a divorce from future spouses may want to look at trust options. However, a trust will not solve the issue of dividing a business if a couple owns one together and gets a divorce. One may be unable to buy the other out because most of their assets may be tied up in the business. If a couple has a prenup in place, that might cover the process, but if they do not, there are other options. A buy-sell or buyout agreement prepared before the wedding might be an alternative to a prenup.

The couple might continue to own and run the business together, but this can only be done if there is not too much emotional turmoil. An individual who cannot afford a buyout might want to look into getting a loan to do so or a property settlement note. Another option might be to bring in another partner. This could be particularly helpful if the business is in debt but should also be accompanied by a buy/sell agreement.

A couple also has the option of selling the business and splitting the proceeds. However, if the business is one that is difficult to sell, this could mean the two are financially tied to one another longer than either is comfortable with.

Individuals who are going through a divorce may want to discuss these options with their attorneys along with issues around other property such as retirement accounts. Strategies could vary depending on the circumstances surrounding the business and each person's financial situation. For example, one person might be passionate about running the business while the other has little interest in doing so, or both might agree to sell the business because they would prefer to move on to something new.

No Comments

Leave a comment
Comment Information
  • Rated By Super Lawyer William L. Goldman Jr.|
  • Million Dollar Advocates Forum
  • Avvo
  • Distinguished AV | LexisNexis Martindale-Hubbell | Peer Review Rated Seal For Ethical Standards and Legal Ability
  • Client Distinction Award - William L. Goldman, Esq.
  • Multi-Million Dollar Advocates Forum
  • Listed in Best Lawyers | Seal of The World's Premier Guide
  • Best Lawyers | BEST LAW FIRMS | US NEWS 2019
Email Us For A Response

Tell Us About Your Case

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Goldman Law Offices

90 E. State Street
Doylestown, PA 18901

Phone: 215-348-2605
Fax: 215-348-5247
Doylestown Law Office Map

Leave us a review of your experience with our firm Review Us