If you are contemplating a divorce, then you are under a great deal of pressure. The end of a relationship can be emotional, and worry regarding the future is valid.
As a business owner, you have a host of additional concerns. You need to protect your business as your life undergoes considerable change.
While it is always important to engage counsel when contemplating divorce, if you are a business owner, it is critical that the firm you choose have experience in handling similar cases for others. Negotiations can be complicated and contentious, and you want to ensure that your business and future earnings potential are protected. The business divorce lawyer at Wolfe & Stec is both capable and ready to help you address all issues head-on.
The stakes are high for all couples who are separating. The changes to life after a divorce becomes final are substantial: living arrangements, financial position, and parenting are all impacted. That said, when one spouse owns a business, there is even more to consider. Your goals may include:
When these concerns are added to those inherent in a divorce, it becomes clear that you need very specialized representation.
In most cases, owning a business plays a major role in how a divorce unfolds. In Illinois, keeping your business and marriage separate is challenging at best. That said, there are some things that can help protect business interests. These include:
While each of these offers some protection, working with a knowledgeable and skilled business owner divorce lawyer is still important.
Illinois law states that property division must be equitable (not equal).
When significant assets are involved, the possibility of contentious negotiations is always present. Your business divorce lawyer can manage the communication process with a focus on keeping emotions out of your interactions.
The question “how does divorce impact my business” is perhaps the most common one asked of our firm. In each case, this inquiry will have a very specific response, one that is unique to each business owner. Below we have shared other more general questions that impact the divorce process and outcome for business owners, along with our firm’s responses.
While the above questions are relatively general, we hope the information we shared is helpful to you. Because each family is unique, as is each business, more information would be necessary to provide you with answers to your specific questions. We welcome you to contact us to schedule an appointment during which we can gain more information regarding your situation and provide you with more pointed advice and counsel.
You have leveraged considerable skill, effort, and time in building your business. Success does not come easy; it’s the result of hard work.
Changes in your personal life, like getting divorced, can not only impact your relationship, your parenting, and your financial position, but they can also threaten your business’s ownership and future.
Protecting it requires the advice and counsel of a legal professional whose expertise extends beyond that of divorce law and encompasses business law as well.
At Wolf & Stec, we are experienced family lawyers; we handle divorce matters for a broad range of couples, including those who are business owners. We understand the nuances involved in negotiating their divorces; business ownership impacts divorce settlements, and vice versa. Our business owner divorce attorney knows how to deal with these issues. We can help you legally end your marriage while protecting your business and your future.
Our commitment to our clients is unmatched and the service we provide unequaled. We can help you through the legal process, paving the road for a brighter tomorrow.