What Happens To My Business After a Divorce
What happens to your business during a divorce in North Carolina? In this video, we explain how marital property laws may affect your business, what counts as separate vs. marital assets, and how a divorce can impact business ownership. Learn how to protect your business and your financial future.
🔹 For trusted legal guidance, contact Charles R. Ullman & Associates in Raleigh, NC.
📍 109 S. Bloodworth St., Raleigh, NC 27601
📞 (919) 829-1006
🌐 https://www.charlesullman.com
Transcript
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I get asked frequently what happens to my business in a divorce hearing. Businesses that have started during the marriage will be considered entirely marital assets. If the business increased in value during the marriage, that increase in value can be considered marital property and divided between the parties.
How do I determine the value of my business? Frequently, we will ask an expert to come in and do a business valuation. In dividing a business, courts will assign the business as property of one spouse for the other. In most situations, it's important to remember a business generates income, and that income may be the basis upon which alimony and child support are determined.
