The Role of Business Partners in Florida Divorce Proceedings

Understanding How Divorce Affects Business Partnerships in Orlando

Orlando is home to a thriving business community filled with professionals, entrepreneurs, and executives who have built successful companies. When a high net-worth divorce involves a business, the impact extends beyond the couple—it affects business partners, shareholders, and employees. These situations require strategic legal guidance to protect business interests while ensuring a fair divorce settlement.

I am Beryl Thompson-McClary, an Orlando high net-worth divorce Attorney, and I represent clients on both sides of this issue. Whether you are a business owner going through a divorce, a spouse seeking a fair share of a marital business, or a business partner concerned about the impact of a partner’s divorce on your company, I am here to help.

If you are dealing with a business-related divorce matter in Orange County, Florida, call me at 1-888-640-2999 to schedule a consultation. Protecting your financial interests requires proactive planning and legal guidance tailored to your unique situation.


How Business Ownership Affects Divorce Cases

When a divorce involves a business, the court must determine whether the business is marital property or non-marital property under Florida Statutes §61.075.

  • Marital Property: If a business was started during the marriage or if marital funds contributed to its growth, it is typically considered marital property and subject to equitable distribution.
  • Non-Marital Property: If the business was established before the marriage and no marital funds or spousal contributions increased its value, it may be considered separate property.
  • Hybrid Business Ownership: If a business was started before the marriage but grew due to marital contributions, the court may determine that a portion of the business value is subject to division.

Understanding these distinctions is critical in determining how a business will be handled in divorce proceedings.


How Business Partners Are Affected in Divorce Cases

If You Are a Business Owner Going Through a Divorce

If you own a business and are going through a divorce, protecting your company’s stability is likely a top priority. Your spouse may have a claim to a share of the business, which can lead to complications, including:

  • The need for a business valuation to determine its worth
  • A potential buyout to compensate your spouse for their share
  • Legal disputes over income and asset distribution
  • Concerns from business partners about ownership changes

If You Are the Spouse of a Business Owner

If your spouse owns a business, you may be entitled to part of its value, depending on the circumstances. Factors that influence your claim include:

  • Whether marital funds contributed to business growth
  • Whether you played a role in business operations
  • Whether business profits were used to support your household

A proper financial analysis can help determine the fair value of your share in the business.

If You Are a Business Partner Concerned About Divorce Impact

Business partners often worry about how a partner’s divorce will affect company operations. Issues that may arise include:

  • Disruptions in company decision-making if a divorcing partner is distracted
  • A spouse gaining an ownership interest if business shares are divided
  • Financial strain if a partner must liquidate assets to pay a spouse
  • Breach of partnership agreements if divorce settlements override business contracts

The best way to prevent these complications is to have legal protections in place before issues arise.


Legal Protections for Business Owners and Their Partners

Prenuptial and Postnuptial Agreements

prenuptial agreement or postnuptial agreement can clarify how a business will be treated in a divorce. These agreements can:

  • Specify that a business remains separate property
  • Define how business value will be handled if marital contributions are made
  • Protect business partners from disruption due to divorce

Buy-Sell Agreements and Partnership Contracts

buy-sell agreement is a legally binding contract that outlines what happens to business shares if a partner divorces. This agreement can:

  • Prevent a spouse from obtaining ownership in the business
  • Require a partner to buy out the spouse’s interest
  • Set valuation methods for determining fair market value

Business owners should review existing partnership agreements to ensure they include divorce-related provisions.

Business Valuation and Asset Division

When a business is part of a divorce, a business valuation is necessary to determine its worth. This process includes:

  • Reviewing financial records, profit margins, and business assets
  • Determining the company’s fair market value
  • Evaluating whether a spouse is entitled to a percentage of the business value

Once the valuation is complete, options for asset division include:

  • A buyout agreement, where one spouse compensates the other for their share
  • Offsetting assets, where the business owner keeps the company in exchange for giving up other assets (e.g., real estate or investments)
  • Co-ownership, where both spouses continue running the business together (this is rare but possible in amicable cases)

Florida Laws That Impact Business Division in Divorce

Several Florida statutes govern business ownership in divorce:

  • Florida Statutes §61.075: This statute establishes the rules for equitable distribution of marital assets, including businesses.
  • Florida Statutes §61.08: This statute governs alimony and how business income can affect spousal support.
  • Florida Statutes §618.01-618.28: These laws regulate partnerships and business entities, which can influence how businesses are handled in divorce cases.

Understanding these laws is crucial to protecting your interests and avoiding unexpected financial consequences.


FAQs About Business Partners and Divorce in Florida

How does Florida’s equitable distribution law affect business division?
Florida follows equitable distribution, meaning the court divides assets fairly but not necessarily equally. If a business is considered marital property, its value may be split between spouses based on factors like financial contributions and business involvement.

What happens if my business partner gets divorced?
If your business partner is going through a divorce, their spouse may attempt to claim a portion of their ownership interest. A well-drafted partnership agreement or buy-sell agreement can prevent a spouse from becoming an unintended business owner.

Can a business be excluded from divorce proceedings?
If a business is considered separate property, meaning it was owned before the marriage and no marital funds contributed to its growth, it may be excluded. However, if the business increased in value due to marital efforts, a portion of that value may be subject to division.

How is a business valued in a Florida divorce?
A business valuation typically involves forensic accounting, financial records analysis, and market comparisons to determine the company’s fair market value. Courts may require a certified appraiser to provide an unbiased assessment.

Can my spouse force me to sell my business in a divorce?
If a business is a marital asset and a fair buyout agreement cannot be reached, the court may order its sale to divide proceeds equitably. However, other asset division strategies can prevent forced liquidation.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

Business-related divorce cases require skilled legal representation to protect financial interests and maintain business stability. Whether you are a business owner, the spouse of a business owner, or a business partner concerned about divorce implications, I can provide the guidance you need. Call 1-888-640-2999 today to schedule a consultation and discuss your options.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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How Business Ownership Affects Divorce Settlements in Florida.

Business and Divorce in Florida

Orlando is a thriving hub for professionals, entrepreneurs, and business owners who have built successful enterprises. When divorce becomes a reality, one of the most pressing concerns is how business ownership will impact the division of assets. Business interests are often among the most valuable assets in a high net-worth divorce, and the way they are handled can significantly impact both spouses.

As an Orlando high net-worth divorce Attorney, I help business owners and their spouses protect their financial interests during divorce proceedings. My name is Beryl Thompson-McClary, and I represent clients throughout Orange County, Florida, ensuring their rights are protected when businesses are at stake. If you are facing a divorce that involves business ownership, call me at 1-888-640-2999 to schedule a consultation.


How Florida Law Treats Business Ownership in Divorce

Florida follows the principle of equitable distribution, meaning that marital assets are divided fairly but not necessarily equally. Whether a business is considered a marital asset depends on several factors, including when it was founded, how it was funded, and whether both spouses contributed to its success.

Under Florida Statutes §61.075, the court examines the classification of assets, distinguishing between marital and non-marital property:

  • Marital Property: If the business was started during the marriage or if marital funds or efforts contributed to its growth, it is likely subject to equitable distribution.
  • Non-Marital Property: If the business was owned before the marriage and remained separate, it may be excluded from asset division, provided no marital funds or labor enhanced its value.

Even if a business is considered separate property, the increase in its value during the marriage could be subject to division if the non-owning spouse played a role in its success or supported the owner financially.


Impact of Business Valuation in a High Net-Worth Divorce

One of the most significant challenges in dividing a business during a divorce is determining its value. The court may require an independent valuation to assess the fair market value, which involves:

  • Examining Financial Records: Tax returns, profit and loss statements, and business assets.
  • Evaluating Business Growth: The increase in revenue and assets during the marriage.
  • Assessing Goodwill: This includes brand reputation, customer loyalty, and future earning potential.
  • Considering Market Trends: Industry conditions that may impact the business’s valuation.

A proper valuation is critical because it determines how much the business owner may need to compensate the other spouse if they wish to retain full ownership.


Strategies for Business Owners During Divorce

If you are a business owner going through a divorce, there are several options to consider to protect your company:

  • Buyout Agreements: Offering other assets or structured payments to retain full ownership.
  • Pre- and Postnuptial Agreements: If an agreement specifies that the business remains separate property, it can prevent costly disputes.
  • Trust or Business Structuring: Some business owners create trusts or legal structures to protect ownership interests.
  • Deferred Compensation Agreements: If one spouse contributed significantly, the other may agree to deferred financial compensation instead of immediate division.

As an Orlando high net-worth divorce Attorney, I help business owners explore these options to keep their companies intact while ensuring a fair settlement.


When a Spouse Has a Claim to the Business

If your spouse owns a business and you believe you have a financial interest in it, there are several legal strategies to ensure you receive fair compensation:

  • Claiming a Share of Business Growth: If the business grew due to marital contributions, you may be entitled to a portion of the increased value.
  • Equitable Division of Other Assets: Instead of splitting business ownership, you may receive assets of comparable value, such as real estate or investment accounts.
  • Spousal Support Considerations: If you played a role in supporting your spouse’s business efforts, alimony may be a factor.
  • Ensuring Financial Transparency: A forensic accountant can analyze business records to uncover hidden income or undervalued assets.

I represent both business owners and spouses who have claims to business interests, ensuring a fair resolution for all parties involved.


Florida Statutes on Business and Divorce Settlements

Florida law provides specific guidelines on handling business assets in divorce:

  • Florida Statutes §61.075: Defines marital vs. non-marital assets and outlines how courts determine equitable distribution.
  • Florida Statutes §61.08: Covers alimony, which may be relevant if one spouse sacrificed their career to support the business owner.
  • Florida Business and Professional Regulation Laws: Some licensed professionals, such as doctors and attorneys, may have restrictions on transferring business ownership in divorce cases.

Understanding these legal frameworks is essential for negotiating favorable divorce settlements that involve business assets.


FAQs About Business Ownership and Divorce Settlements in Florida

How does a business get divided in a Florida divorce?

If a business is classified as marital property, the court may order a buyout, asset exchange, or structured settlement. The goal is to divide assets equitably while preserving the business’s viability.

Can my spouse take half of my business in a divorce?

Not necessarily. If the business was owned before the marriage and remained separate, your spouse may not have a claim. However, if marital funds contributed to its growth, your spouse may be entitled to a portion of the increased value.

What if my spouse and I co-own a business?

Options include one spouse buying out the other, selling the business and splitting the proceeds, or continuing to co-own the business post-divorce under a structured agreement.

How do I prove my business is separate property?

Providing documentation that the business was established before marriage and that no marital funds or labor enhanced its value can help demonstrate that it remains separate property.

How can I protect my business from being divided in a divorce?

A prenuptial or postnuptial agreement is the most effective way to protect business assets. Structuring ownership through trusts or separate business entities can also provide protection.

Can I be forced to sell my business in a divorce?

It is rare for a court to force a business sale unless there are no viable options for equitable asset division. Courts typically seek alternatives that allow the business to remain intact.

What if my spouse is hiding business assets?

A forensic accountant can analyze financial records to uncover hidden assets, undervaluation, or financial manipulation that could impact the divorce settlement.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

If your divorce involves business ownership, legal representation is critical to ensuring your rights and financial interests are protected. Whether you are a business owner seeking to retain control or a spouse seeking a fair share, I provide strategic legal solutions to achieve the best possible outcome. Call 1-888-640-2999 today to schedule a consultation and discuss your case.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Can I Sell My Business Before or During a Divorce in Florida?

Understanding the Legal and Financial Implications in Florida

Orlando is home to many business owners, professionals, and high-net-worth individuals who have built successful enterprises. When facing a divorce, one of the most pressing concerns is whether a business can be sold before or during the legal process. Whether you are looking to sell your business to protect your financial future or are concerned about your spouse attempting to sell a shared business, it is essential to understand the legal implications under Florida law.

I am Beryl Thompson-McClary, an Orlando high net-worth divorce Attorney, and I help business owners and spouses navigate complex divorce proceedings in Orange County, Florida. If you are contemplating selling your business or suspect your spouse might, you need legal guidance to protect your rights and financial interests. Call me at 1-888-640-2999 to schedule a consultation.


Can You Sell Your Business Before a Divorce?

If you own a business and are considering selling it before initiating divorce proceedings, there are several factors to keep in mind:

  1. Marital vs. Non-Marital Property: Under Florida Statutes §61.075, assets are classified as either marital or non-marital property. If the business was established before marriage and has remained separate, you may have more flexibility in selling it. However, if marital funds or efforts contributed to its growth, your spouse may have a claim to a portion of the proceeds.
  2. Dissipation of Assets Concerns: Florida law prohibits spouses from intentionally depleting marital assets in anticipation of a divorce. If the business is considered marital property, selling it before divorce could be seen as an attempt to avoid equitable distribution, which could lead to legal consequences.
  3. Impact on Divorce Settlement: If you sell the business before filing for divorce, the proceeds from the sale may still be subject to equitable distribution. The court will examine whether the sale was conducted in good faith and at fair market value.

If you are considering selling your business before a divorce, consulting an Orlando high net-worth divorce Attorney is critical to ensuring compliance with Florida law and protecting your financial interests.


Selling a Business During a Divorce

Selling a business while the divorce process is ongoing is often more complex. Florida courts place restrictions on asset transactions once divorce proceedings have begun to ensure fairness and prevent financial manipulation. Here are key factors to consider:

  1. Court Approval May Be Required: If the business is part of the marital estate, selling it during divorce may require court approval. The court will evaluate whether the sale is necessary and whether it aligns with equitable distribution principles.
  2. Valuation and Fair Market Sale: The business must undergo a professional valuation to determine its worth. The court will not approve a sale that undervalues the business or disadvantages the other spouse.
  3. Division of Proceeds: If the sale is permitted, the proceeds will be subject to division under Florida’s equitable distribution laws. The court may allocate a portion to the non-owner spouse, particularly if they contributed to the business’s success.
  4. Potential for a Buyout: If one spouse wishes to retain ownership, a buyout agreement may be negotiated. This option allows one spouse to maintain control while compensating the other fairly.

If you are facing a high-net-worth divorce and need guidance on selling a business, I can provide strategic legal counsel to protect your interests. Call me at 1-888-640-2999 to discuss your options.


Legal Ramifications of Selling a Business in Divorce

Florida’s Equitable Distribution Laws

Florida follows the principle of equitable distribution, meaning that marital assets, including businesses, are divided fairly but not necessarily equally. Under Florida Statutes §61.075, the court considers several factors when determining distribution, including:

  • The length of the marriage
  • Each spouse’s contribution to the business (direct or indirect)
  • The financial situation of each spouse
  • Whether the business was acquired before or during the marriage
  • The future earning potential of each spouse

If the court determines that the business is a marital asset, both spouses may have a claim to its value, regardless of ownership on paper.

Consequences of an Unauthorized Sale

Selling a business without court approval during a pending divorce can result in serious legal consequences, including:

  • Legal Penalties: The court may impose financial penalties or order reimbursement if the sale is deemed unfair or against Florida law.
  • Reallocation of Assets: If the business was improperly sold, the court may adjust asset division to compensate the other spouse.
  • Contempt of Court: If a court order prohibits asset sales during divorce proceedings, violating this order could result in contempt charges.

Before making any decisions regarding a business sale, consult with an Orlando high net-worth divorce Attorney to avoid costly mistakes and ensure legal compliance.


FAQs About Selling a Business Before or During a Florida Divorce

Can I sell my business before filing for divorce?

Yes, but if the business is considered a marital asset, the proceeds from the sale may still be subject to equitable distribution. Additionally, if the court believes the sale was an attempt to hide assets or reduce the marital estate’s value, there could be legal repercussions.

What if my spouse tries to sell our business without my consent?

If the business is a marital asset, your spouse cannot legally sell it without your consent or court approval. If you suspect an unauthorized sale, you should immediately seek legal intervention to protect your rights.

How is the value of my business determined in a Florida divorce?

A business valuation is conducted using methods such as asset-based valuation, income-based valuation, or market comparison. Hiring a forensic accountant can help ensure an accurate valuation.

What happens to my business if my spouse and I co-own it?

There are several options: one spouse can buy out the other, the business can be sold and proceeds divided, or both spouses may continue co-owning it under a structured agreement.

Can I use a prenuptial or postnuptial agreement to protect my business in divorce?

Yes. A well-drafted prenuptial or postnuptial agreement can designate the business as separate property, protecting it from division in a divorce.

Will I have to pay my spouse if I sell the business?

If the business is classified as a marital asset, your spouse may be entitled to a portion of the proceeds from the sale. The percentage will depend on various factors, including contributions to the business and overall asset division.

Can a court force me to sell my business during divorce?

In some cases, if neither spouse can afford a buyout and the business is a significant marital asset, the court may order a sale to ensure fair distribution of assets.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

Whether you are looking to sell a business before or during a divorce or are concerned about your spouse’s actions, I can provide the legal representation you need. Call me at 1-888-640-2999 to schedule a consultation and discuss your options for protecting your financial future.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Protecting a Business in a High Net-Worth Florida Divorce

Business Ownership and Divorce in Orlando

Orlando is home to a thriving business community, with entrepreneurs, medical professionals, and corporate executives leading successful ventures. While building a business is a rewarding achievement, it can become a significant concern during a divorce. For business owners and their spouses, the question arises: How will the business be treated under Florida law?

As an Orlando high net-worth divorce Attorney, I assist individuals on both sides of this issue. Whether you are a business owner looking to protect your company or a spouse seeking a fair share of marital assets, I can help. I’m Beryl Thompson-McClary, and I handle high-net-worth divorce cases across Orange County, Florida. Call me at 1-888-640-2999 to schedule a consultation and discuss your specific circumstances.


How Florida Law Treats Business Ownership in Divorce

Florida follows the principle of equitable distribution, which means marital assets are divided fairly but not necessarily equally. Business ownership can be a complicated factor in divorce cases, particularly when the company has grown in value during the marriage or when both spouses have played a role in its success.

Under Florida Statutes §61.075, assets are classified as marital or non-marital:

  • Marital Property: If a business was established during the marriage, it is typically considered marital property and subject to division. If one spouse started the business before the marriage but marital funds or efforts contributed to its growth, the increased value may be subject to division.
  • Non-Marital Property: If the business was acquired before the marriage and remained separate—meaning no marital funds or efforts contributed to its growth—it may be classified as non-marital and remain with the original owner.

Even if a business is considered separate property, disputes may arise if a spouse claims contributions—financial or otherwise—helped increase its value. Florida courts consider factors such as personal involvement, reinvestment of marital assets, and overall contributions to determine what portion of the business, if any, is subject to division.


How Business Owners Can Protect Their Company in Divorce

If you own a business and want to prevent significant disruption during a high-net-worth divorce, there are several legal strategies to consider:

1. Prenuptial and Postnuptial Agreements

A well-drafted prenuptial or postnuptial agreement can clearly define business ownership and prevent it from becoming a contested issue in divorce. These agreements can specify that the business remains separate property or establish buyout terms in case of a divorce.

2. Keeping Business and Personal Finances Separate

Commingling personal and business funds can create challenges in determining the company’s classification as separate property. Keeping financial records distinct can strengthen the argument that the business is non-marital.

3. Establishing a Trust or Business Structure

Some business owners use trusts or legal structures, such as LLCs or corporations, to shield their business from direct ownership claims. However, these arrangements must be properly structured to avoid accusations of fraudulent transfers or improper asset protection tactics.

4. Fair Valuation of the Business

A business valuation conducted by an independent expert ensures that the company’s worth is accurately determined. If an undervaluation or overvaluation is suspected, forensic accountants may be brought in to review financial statements and cash flow.

5. Buyout Options

If a business is deemed marital property, one spouse may buy out the other’s share. This can be structured through lump-sum payments, asset exchanges, or structured settlements that allow continued business operations.


When a Spouse Has a Claim to the Business

For spouses who do not own the business but have a legitimate claim to its value, legal options exist to secure a fair distribution:

1. Seeking a Share of Business Growth

If the business increased in value due to marital contributions—whether financial, managerial, or through indirect support—the non-owner spouse may be entitled to a portion of that increased value.

2. Requesting Spousal Support Based on Business Income

If a business generates substantial income, it may impact spousal support (alimony) calculations. The Florida courts will examine the business owner’s income, profitability, and the spouse’s financial needs when determining alimony awards.

3. Asset Offsets in Property Division

Instead of directly sharing in business ownership, the non-owner spouse may negotiate for a larger portion of other marital assets, such as real estate, investment accounts, or retirement funds.

4. Uncovering Hidden Business Assets

In high-net-worth divorces, financial transparency is essential. If there is suspicion that the business owner is concealing income or assets, forensic accountants can investigate financial records, tax filings, and transactions to ensure an accurate valuation.


Legal Consequences of Business Division in Divorce

The division of a business in divorce can have far-reaching implications. Florida courts assess multiple factors to determine fair outcomes, including:

  • Each spouse’s contribution to the business’s success
  • The length of the marriage
  • Whether the business was inherited or created from joint efforts
  • Tax consequences of selling or dividing the business
  • The financial impact of awarding one spouse a controlling interest

Under Florida law, businesses cannot simply be “split in half.” Courts aim for practical solutions that preserve business operations while ensuring fairness in the settlement. Depending on the circumstances, this may result in structured buyouts, asset reallocation, or alternative compensation arrangements.


FAQs About Protecting a Business in a High Net-Worth Florida Divorce

Can a spouse claim part of my business if they never worked there?

Yes, if marital funds were used to support the business or if their indirect contributions (such as handling household responsibilities to support the owner’s work) helped increase its value. Florida law considers non-financial contributions when determining equitable distribution.

How do Florida courts determine the value of a business in divorce?

Courts rely on business valuation experts who assess factors such as financial statements, assets, liabilities, and market conditions. A proper valuation is critical to ensure fair negotiations.

Can I protect my business by paying myself a lower salary?

Intentionally reducing business income to minimize asset division or alimony obligations can backfire. Courts examine historical income, tax filings, and financial statements to assess the true value of a business owner’s earnings.

What if my spouse and I co-own the business?

Co-owned businesses may require buyouts, restructuring, or continued shared ownership if both parties wish to remain involved. A clear business partnership agreement can help define exit strategies in case of divorce.

How can I protect my business before getting married?

A prenuptial agreement is one of the most effective ways to safeguard business assets. It can clarify business ownership and prevent disputes if divorce occurs.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

If you are concerned about protecting your business in a high net-worth Florida divorce, schedule a consultation by calling 1-888-640-2999. Contact Orlando Attorney Beryl Thompson-McClary today to discuss your legal options.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Do I Have to Sell My Business in a Florida Divorce?

Protecting Business Interests During Divorce in Orlando

Orlando is a thriving city for business owners, professionals, and entrepreneurs. Many individuals who built successful companies or acquired business interests find themselves facing critical decisions when divorce proceedings begin. One of the biggest concerns in high net-worth divorce cases is whether a business must be sold as part of the asset division process.

As an Orlando high net-worth divorce attorney, I understand that both business owners and their spouses have financial interests at stake. Whether you want to keep the business intact or ensure a fair division of assets, I can provide strategic legal guidance to help you achieve the best possible outcome. If you are facing divorce and need to protect your business interests, call my office at 1-888-640-2999 to schedule a consultation.

How Are Businesses Handled in a Florida Divorce?

Florida is an equitable distribution state, meaning that marital assets—including business interests—are divided fairly, though not necessarily equally. If a business was established, acquired, or grew in value during the marriage, it is typically considered a marital asset. Even if a business was started before the marriage, any increase in value during the marriage could be subject to division.

The first step in determining how a business will be handled is identifying whether it is:

  • Separate property – Owned before the marriage with no commingling of marital funds.
  • Marital property – Acquired or developed during the marriage using shared funds.
  • Partially marital property – Started before marriage but increased in value during the marriage due to the spouse’s contributions or business growth.

Once the business is classified, the court considers several factors to determine how to divide its value without unnecessary disruption.

Will I Be Forced to Sell My Business?

Selling a business is rarely the first option in a Florida divorce. Courts understand that businesses are not just financial assets; they are often a person’s livelihood. However, there are circumstances where selling the business may become necessary, especially when:

  • The spouses cannot reach an agreement on business valuation or division.
  • One spouse lacks the financial ability to buy out the other’s interest.
  • The business structure makes co-ownership after divorce impractical.
  • There are insufficient other assets to offset one spouse’s share of the business.

If selling is unavoidable, the proceeds from the sale will typically be divided according to Florida’s equitable distribution laws.

Options to Keep a Business Intact

If you are a business owner seeking to retain full ownership of your company, there are several legal strategies to consider:

1. Business Buyout

The most common solution is for one spouse to buy out the other’s share. This requires a fair business valuation, which can be achieved with forensic accountants or business valuation experts. A buyout may involve:

  • Using personal assets or liquid funds.
  • Offsetting the business interest with other marital assets, such as real estate, retirement accounts, or investments.
  • Structuring a payment plan to buy out the other spouse over time.

2. Trade-Off in Asset Division

Instead of selling the business, one spouse may agree to take a larger share of other marital assets in exchange for the business owner keeping full ownership. This can involve:

  • Giving up rights to the marital home.
  • Waiving claims to high-value investments.
  • Accepting a reduced share of retirement accounts.

3. Co-Ownership Agreements

If both spouses have a vested interest in the business and can work together, they may choose to remain co-owners post-divorce. This option requires careful structuring, including:

  • A formal shareholder or partnership agreement.
  • Clearly defined roles and financial distributions.
  • A plan for future exit strategies if co-ownership is no longer viable.

4. Pre-Divorce Restructuring

In some cases, restructuring the business before the divorce can help protect its long-term stability. This may include:

  • Transferring ownership to a trust.
  • Bringing in third-party investors.
  • Modifying the business structure to limit divisible marital interest.

Florida Statutes on Business Division in Divorce

Under Florida Statute § 61.075, courts determine equitable distribution based on various factors, including:

  • The length of the marriage and each spouse’s contributions.
  • The economic circumstances of each party.
  • Whether one spouse interrupted their career or education for the other.
  • The intentional dissipation or waste of marital assets.

If one spouse argues that they should receive a greater share of business assets, they must present evidence supporting their claim. This could include showing how their efforts contributed to the company’s growth or how the other spouse used business income for personal expenses.

What If My Spouse Was Not Involved in the Business?

Even if your spouse did not participate in daily business operations, they may still have a claim to its value. Florida courts recognize indirect contributions, such as:

  • Supporting the business owner’s career by managing household responsibilities.
  • Investing marital funds into the business.
  • Sacrificing their own career opportunities for the business owner’s success.

These contributions can influence how the court allocates business interests during the divorce.

Can My Spouse Force Me to Sell the Business?

A spouse cannot automatically force the sale of a business. However, if both parties have an ownership stake and cannot agree on a fair buyout or settlement, the court may order the sale. To prevent this, working with an Orlando high net-worth divorce attorney can help negotiate solutions that protect your business.

What If the Business Is My Primary Source of Income?

Courts take into account whether selling a business would unfairly impact one spouse’s ability to earn a living. If the business is the primary source of income, Florida courts may:

  • Allocate more marital assets to the non-owner spouse instead of business interests.
  • Order structured buyout payments rather than an immediate lump sum.
  • Allow the owner to continue operating the business while compensating the other spouse.

How an Orlando High Net-Worth Divorce Attorney Can Help

Dividing business assets in a divorce requires strategic legal planning. Whether you are a business owner protecting your company or a spouse seeking fair compensation, I will work to:

  • Evaluate business valuation methods that align with your financial interests.
  • Negotiate settlement terms that preserve business operations.
  • Advocate for equitable division based on Florida law.
  • Protect your rights in cases of disputed ownership or hidden assets.

To discuss how I can assist you in your high net-worth divorce case in Orlando, call 1-888-640-2999 to schedule a consultation.


FAQs

Can I protect my business from divorce with a prenuptial or postnuptial agreement?
Yes, prenuptial and postnuptial agreements can establish whether a business remains separate property or define how it will be handled in the event of divorce. Courts generally uphold these agreements if they are properly executed and do not contain unfair terms.

What if I co-own the business with partners?
If your business has other owners, your divorce could affect them as well. Partnership agreements, shareholder agreements, and operating agreements may include provisions that prevent a spouse from claiming ownership or require a buyout to avoid business disruptions.

Can business income be factored into alimony payments?
Yes, business income can be used to determine alimony obligations. Courts examine whether the income is consistent, whether the business owner takes a salary, and how much of the business’s profits are considered personal income.

How do I ensure my business is accurately valued during divorce?
Hiring a forensic accountant or business valuation expert is essential to obtain an accurate assessment. The valuation method depends on the type of business, assets, and revenue streams.

What if my spouse accuses me of hiding business assets?
Accusations of hiding business assets can lead to court investigations and financial audits. It is crucial to maintain accurate records and be transparent about your business finances during the divorce process.


Call Us Today To Schedule a Consultation

If you are concerned about protecting your business in a high net-worth Florida divorce, schedule a consultation by calling 1-888-640-2999. Contact Orlando Attorney Beryl Thompson-McClary today to discuss your legal options.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Common Mistakes Business Owners Make in a Florida Divorce

High Net-Worth Divorce in Orlando and Business Ownership

Orlando is a thriving city with a strong business community. Many professionals and entrepreneurs have built successful companies that provide financial stability for their families. However, when divorce becomes a reality, business owners often make avoidable mistakes that can significantly impact their financial future.

As an Orlando high net-worth divorce Attorney, I represent both business owners and their spouses in complex divorce cases. If your divorce involves a business, you need an attorney who understands the financial and legal challenges that arise in these cases. I am Beryl Thompson-McClary, and I provide representation throughout Orange County, Florida.

If you are a business owner facing divorce or your spouse owns a business, call me at 1-888-640-2999 to schedule a consultation. Together, we will review your situation and develop a legal strategy that protects your interests.


Common Mistakes Business Owners Make in Divorce

Business owners going through divorce often underestimate the impact of their decisions. Whether they are the spouse trying to protect the business or the spouse seeking a fair share, making the wrong moves can lead to costly outcomes. Here are some of the most common mistakes:

1. Failing to Separate Personal and Business Finances

Mixing personal and business finances makes it difficult to determine what portion of a business is considered marital property. If marital funds were used to support the company, the business may be subject to equitable distribution under Florida Statutes §61.075. Keeping separate financial records can prevent unnecessary complications.

2. Undervaluing or Overvaluing the Business

Business owners sometimes try to undervalue their company to reduce the amount owed to their spouse. Conversely, a spouse may claim the business is worth more than it is to receive a larger share. Florida courts require a fair and accurate business valuation during the divorce process. Relying on professional valuations is critical to avoiding disputes.

3. Trying to Hide Business Assets

Attempting to conceal business assets is a serious mistake. Courts have access to forensic accountants who analyze financial records for discrepancies. If a judge determines that assets were intentionally hidden, the court may impose financial penalties and award a larger portion of marital property to the other spouse.

4. Ignoring the Impact of Divorce on Business Operations

Divorce can be disruptive to business operations, especially if both spouses are involved in the company. Business owners should take steps to ensure daily operations continue smoothly, whether through restructuring, buying out a spouse, or negotiating a fair division of assets.

5. Not Having a Prenuptial or Postnuptial Agreement

prenuptial or postnuptial agreement can clarify whether a business is considered marital or non-marital property. Without one, a spouse may have a claim to part of the business if it increased in value during the marriage. Business owners should consider these agreements as part of their long-term asset protection strategy.

6. Assuming a Spouse Has No Claim to the Business

Many business owners believe that if they started the company before marriage, their spouse has no right to it. However, Florida law allows for the division of a business’s increased value if marital funds or efforts contributed to its growth. It is essential to assess how the business evolved during the marriage.

7. Misunderstanding Equitable Distribution in Florida

Florida follows equitable distribution, meaning property is divided fairly but not necessarily equally. A business owner may need to compensate their spouse with other assets or structured payments. Understanding how courts approach property division helps in negotiating a favorable settlement.

8. Not Planning for Tax Consequences

Transferring business interests or assets can have significant tax implications. Selling business shares, liquidating assets, or paying out a spouse may result in unexpected tax liabilities. Consulting with financial professionals is necessary to minimize tax exposure.

9. Ignoring the Role of a Forensic Accountant

forensic accountant can evaluate business income, cash flow, and potential hidden assets. Business owners and their spouses should work with financial professionals to ensure all financial matters are accurately assessed.

10. Not Seeking Legal Representation From a High Net-Worth Divorce Attorney in Orlando

Divorce cases involving businesses require legal counsel familiar with Florida’s business and divorce laws. Failing to work with an attorney experienced in high-asset divorce cases can result in losing control of a business or receiving an unfair settlement.


Florida Statutes and Business Ownership in Divorce

Under Florida Statutes §61.075, assets acquired during the marriage are considered marital property and subject to equitable distribution. The following factors influence whether a business remains intact or is divided:

  • How and when the business was founded
  • The role each spouse played in growing the business
  • Whether marital funds were used to support the business
  • The business’s increase in value during the marriage
  • The financial needs and contributions of both spouses

Courts aim to ensure fairness, but business owners must take the right steps to protect their company from unnecessary disruption.


FAQs About Business Ownership in Florida Divorces

How is a business divided in a Florida divorce?

Florida courts divide assets based on equitable distribution, meaning a business may not be split equally. Instead, a judge evaluates factors such as when the business was founded, its growth during the marriage, and the financial contributions of each spouse.

Can I keep my business after a divorce in Florida?

Yes, but it often requires buying out your spouse’s interest or compensating them with other assets. Courts may also allow structured payments over time to retain ownership.

What happens if my spouse tries to claim part of my business?

If your spouse contributed financially or through indirect support (e.g., staying home to support your career), they may have a legitimate claim to part of the business’s value. A legal strategy can help minimize disruptions while ensuring a fair resolution.

Can my spouse take over my business after our divorce?

If both spouses were involved in the business, courts may consider a buyout, co-ownership arrangement, or sale of the business. If only one spouse was involved, the other is more likely to receive financial compensation rather than ownership.

Do I need a forensic accountant for my divorce?

Forensic accountants help uncover hidden assets, evaluate business income, and ensure accurate valuations. Their role is crucial when business owners suspect financial discrepancies in divorce proceedings.

Can my spouse force me to sell my business?

Courts rarely require a business owner to sell their company unless it is the only way to ensure fair asset division. Alternative options, such as structured settlements or buyouts, are often used.

Should I update my estate plan after my divorce?

Yes, after a divorce, you should revise your estate plan, business succession plan, and beneficiary designations to reflect your new financial situation.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

If your divorce involves a business, it is critical to work with an attorney who understands Florida’s complex property division laws. Whether you are the business owner or the spouse seeking a fair share, I am here to provide the legal representation you need. Call me at 1-888-640-2999 to schedule a consultation and discuss your case.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Equitable Distribution of a Business in a Florida Divorce

High Net-Worth Divorce and Business Division in Orlando

Orlando is home to a thriving business community, with many professionals, entrepreneurs, and small business owners contributing to Florida’s economy. When divorce arises, one of the most significant challenges for business owners and their spouses is the division of business assets. As an Orlando high net-worth divorce Attorney, I assist clients on both sides of this issue—those who want to protect their business and those who seek a fair distribution of marital assets.

I am Beryl Thompson-McClary, and I handle high net-worth divorce cases throughout Orange County, Florida. Whether you own a business or your spouse does, you need a legal advocate who understands the complexities of business valuation and equitable distribution. Call me at 1-888-640-2999 to schedule a consultation and discuss how to protect your financial interests.


Understanding Equitable Distribution in Florida Divorce Cases

Florida follows the equitable distribution model in divorce, which means marital property is divided fairly, though not necessarily equally. Under Florida Statutes §61.075, the court examines multiple factors when dividing assets, including businesses. This law ensures that both spouses receive a just division based on their contributions, financial circumstances, and future needs.

A business may be considered marital propertynon-marital property, or a mix of both, depending on how it was acquired and managed during the marriage. Understanding how Florida courts categorize and divide business assets is crucial for protecting your financial interests during a divorce.


Is a Business Marital or Non-Marital Property?

The first step in equitable distribution is determining whether the business is marital or non-marital property.

  • Marital Property: If the business was started during the marriage or if marital funds contributed to its growth, it is likely considered a marital asset and subject to division.
  • Non-Marital Property: If the business was owned before the marriage and remained separate from marital assets, it may be considered non-marital. However, if the business increased in value due to marital efforts or investments, the increased value may be subject to equitable distribution.

Courts assess whether marital funds, spousal labor, or shared resources contributed to the business’s success. If so, even a separately owned business could become part of the divorce settlement.


How Florida Courts Value a Business in Divorce

Valuing a business is one of the most contentious aspects of equitable distribution. Florida courts rely on professional valuations to determine a business’s worth, considering:

  • Market Value: How much the business would sell for in the open market.
  • Income-Based Valuation: Evaluating profits, revenue, and future earning potential.
  • Asset-Based Valuation: Assessing tangible and intangible business assets, including goodwill, intellectual property, and real estate holdings.
  • Debt and Liabilities: Factoring in outstanding business debts to determine the net value.

A forensic accountant may be involved to ensure accurate valuation and prevent hidden asset disputes. As your attorney, I will work to ensure your business is valued fairly, whether you are seeking to retain ownership or receive a fair share of its worth.


Options for Dividing a Business in a Florida Divorce

Once the business’s value is established, there are multiple ways to divide the asset, depending on the circumstances:

1. One Spouse Buys Out the Other

The most common approach involves one spouse retaining ownership by buying out the other spouse’s share. This allows the business to continue operating while ensuring fair compensation for the other spouse. Buyouts may involve lump-sum payments, structured payouts, or asset trades.

2. Co-Ownership After Divorce

In some cases, ex-spouses continue co-owning the business. This arrangement works when both parties have a professional relationship and can maintain business operations post-divorce. However, it requires a solid agreement outlining roles, decision-making authority, and profit distribution.

3. Selling the Business and Dividing the Proceeds

If neither spouse wants to keep the business or a buyout is financially unfeasible, selling the business and splitting the proceeds is an option. This may involve liquidating assets or selling the company to a third party. However, selling can take time and may not always yield the desired valuation.

4. Offsetting with Other Assets

In high net-worth divorces, the business owner may retain the company by offering other assets—such as real estate, investment accounts, or retirement funds—as compensation. This ensures fair distribution without disrupting business operations.


Protecting Your Business Interests in Divorce

If you own a business, proactive steps can protect your interests:

  • Prenuptial or Postnuptial Agreements: Clearly define business ownership and prevent disputes over division.
  • Separate Finances: Avoid mixing personal and business finances to maintain clear ownership distinctions.
  • Maintain Proper Business Documentation: Keep records of capital contributions, operational roles, and financial transactions.
  • Use a Trust or Business Entity: Structuring ownership through a trust or LLC can offer legal protections against division claims.

As an Orlando high net-worth divorce Attorney, I help business owners safeguard their assets and develop legal strategies to minimize financial risks in divorce.


FAQs About Business Division in Florida Divorce Cases

How does Florida law determine if a business is a marital asset?
Florida courts examine when the business was established, how it was funded, and whether marital resources contributed to its success. Even a business owned before marriage may have marital components if it increased in value due to spousal contributions.

Can I keep my business after my divorce?
Yes, but you may need to compensate your spouse for their share. This can be done through a buyout, asset trade, or structured financial settlement.

What if my spouse was not involved in the business?
Even if your spouse did not actively participate, they may still have a claim if marital funds or efforts contributed to the business’s growth. The court evaluates direct and indirect contributions.

What happens if my spouse and I co-own the business?
Co-ownership can continue post-divorce if both parties agree. If not, one spouse may buy out the other, or the business may be sold.

Can my spouse force me to sell my business in a divorce?
If a fair buyout or alternative division cannot be arranged, the court may order the sale of the business to distribute the proceeds equitably.

Should I consult an Orlando high net-worth divorce Attorney if my business is at risk?
Absolutely. Business division in divorce cases is complex, and legal representation is essential to protect your financial interests and ensure fair treatment under Florida law.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

If you are facing a high net-worth divorce involving a business, you need an attorney who understands Florida’s equitable distribution laws and financial complexities. Call me, Beryl Thompson-McClary, at 1-888-640-2999 to schedule a consultation and discuss your case. Whether you are protecting your business or seeking a fair share of business assets, I will provide the legal advocacy you need to secure your financial future.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Can a Business Stay Intact After a Florida Divorce?

High Net-Worth Divorce in Orlando and Business Ownership

Orlando is home to many successful professionals and business owners who have built substantial assets, including companies that they want to protect. When divorce enters the picture, one of the most pressing concerns for business owners is whether the company can remain intact. As an Orlando high net-worth divorce Attorney, I help clients on both sides of this issue—those who want to safeguard their business and those who seek a fair division of marital assets.

I’m Beryl Thompson-McClary, and I handle complex divorce cases throughout Orange County, Florida. If you own a business or your spouse does, you need legal representation that understands the financial and legal implications of business division during a high net-worth divorce. Call me at 1-888-640-2999 to schedule a consultation and discuss how to protect your interests.


How Florida Law Handles Business Ownership in Divorce

A business is often one of the most valuable assets in a divorce. Whether it remains intact depends on several factors, including ownership structure, marital contributions, and pre-existing agreements. Florida law categorizes property in divorce cases as either marital or non-marital under Florida Statutes §61.075. Understanding this distinction is crucial when determining whether a business remains with one spouse or is subject to division.

  • Marital Property: If the business was established during the marriage or if marital funds contributed to its growth, it is likely subject to equitable distribution.
  • Non-Marital Property: If the business was owned before the marriage and no marital funds or efforts enhanced its value, it may be considered separate property.

The court examines whether the business increased in value during the marriage and if both spouses contributed financially or through indirect support. Even if only one spouse was actively involved in the business, the other may still have a claim.


Can the Business Stay Intact? Exploring Both Sides

When the Business Owner Wants to Keep the Company

If you own a business and want to ensure its continuity after divorce, there are legal strategies to minimize disruption:

  • Buyout Agreements: Offering the other spouse a financial settlement or other assets of equal value to retain full control.
  • Prenuptial or Postnuptial Agreements: If you have an agreement in place that designates the business as separate property, it may protect the company from division.
  • Structuring Compensation Differently: Adjusting how you pay yourself (e.g., salary vs. reinvesting profits) can influence how much of the business is considered marital property.
  • Trusts and Business Structuring: Some business owners have trust structures in place to protect ownership interests.
  • Third-Party Valuations: A professional business valuation can ensure the correct assessment of value, preventing overpayment in a buyout.

When the Non-Business Owner Spouse Has a Claim

If your spouse owns a business and you believe you have a right to a share, there are ways to secure your financial interests:

  • Seeking Your Share of Business Value Growth: If the business grew significantly during the marriage due to joint efforts or financial contributions, you may be entitled to part of its value.
  • Equitable Division of Assets: If the business is awarded to your spouse, you may receive other assets, such as real estate, investments, or a structured settlement.
  • Income-Based Spousal Support: If you supported your spouse in their career, you may be eligible for alimony that reflects the business’s income.
  • Forensic Accounting: If you suspect hidden income or undervaluation of the business, a forensic accountant can uncover the full financial picture.

Florida Statutes and Business Valuation

Business valuation is one of the most contentious aspects of a high net-worth divorce in Orlando. Under Florida law, the fair market value of a business must be determined before it can be divided. This process involves:

  • Assessing Business Assets and Liabilities: Evaluating financial records, inventory, equipment, and real estate holdings.
  • Determining Revenue Streams: Reviewing profit margins, cash flow, and industry trends to establish a fair value.
  • Considering Intangible Value: Including goodwill, brand reputation, and client relationships in the valuation.
  • Tax Implications: Understanding the tax consequences of asset division, buyouts, and business restructuring post-divorce.

As an experienced Orlando high net-worth divorce Attorney, I work closely with financial experts to ensure that business valuations are accurate and fair.


Protecting Your Business From Divorce Disputes

If you are a business owner contemplating divorce, taking proactive steps can help protect your company from lengthy disputes:

  • Secure a Prenuptial or Postnuptial Agreement: Clearly defining business ownership before marriage or during the marriage can prevent conflicts later.
  • Maintain Separate Finances: Avoid using marital funds for business expenses whenever possible.
  • Document Business Contributions: Keeping records of capital investments, ownership percentages, and employment roles can clarify property claims.
  • Plan for Succession: If you co-own a business with partners, ensuring a succession plan protects the company in case of divorce-related ownership changes.

FAQs About Business Ownership in High Net-Worth Florida Divorces

How is a business divided in a Florida divorce?

Florida follows equitable distribution, meaning a business may not necessarily be split 50/50. Instead, the court evaluates how the business was acquired, its growth during the marriage, and each spouse’s contributions. If the business is marital property, one spouse may buy out the other’s interest, or other assets may be exchanged to offset the business’s value.

What if my spouse and I co-own a business?

If both spouses actively run the business, options include continuing to operate it together, selling it and dividing the proceeds, or one spouse buying out the other’s interest. In some cases, a partnership agreement or business restructuring can help clarify ownership rights.

Can my spouse take half of my business in a divorce?

Not necessarily. If the business was owned before the marriage and remained separate property, it may not be subject to division. However, if the business grew in value due to marital efforts, your spouse may be entitled to a portion of that increased value.

How does the court determine the value of a business?

The court typically relies on professional appraisals, financial statements, and expert testimony to establish a fair market value. A forensic accountant may analyze business earnings, expenses, and market conditions to determine an accurate valuation.

What if my spouse tries to undervalue the business?

If there is suspicion that a spouse is hiding assets or undervaluing the business, a forensic accountant can investigate financial records, tax returns, and other documentation to uncover discrepancies. The court may also consider past earnings and industry benchmarks to ensure an accurate valuation.

Can I keep my business intact after my divorce?

Yes, but it often requires negotiating a settlement that compensates the other spouse for their share. This could involve a buyout, adjusting other asset distributions, or agreeing to structured payments over time.

Should I consult a high net-worth divorce attorney in Orlando if my business is at risk?

Absolutely. Business ownership in divorce cases is complex and requires skilled legal representation. Whether you are the business owner or the spouse seeking a fair share, legal guidance ensures your rights and financial interests are protected.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

If you are going through a high net-worth divorce involving a business, you need legal counsel who understands Florida law and financial complexities. Call me at 1-888-640-2999 to schedule a consultation and discuss your case. Whether you want to keep your business intact or secure your fair share, I will provide the strong representation you need.

Our Orlando Divorce Attorney discusses Protecting Privacy in High Net-Worth Divorce Cases in Orlando, Florida.

How to Maintain Client Confidentiality During Divorce Proceedings

Orlando is home to many professionals, business owners, and high-income individuals who face unique challenges when going through a divorce. One of the most pressing concerns in high net-worth divorces is ensuring confidentiality. When significant assets, businesses, and reputations are involved, the need for discretion becomes paramount.

I’m Beryl Thompson-McClary, a high net-worth divorce Attorney in Orlando, dedicated to helping clients protect their personal and financial privacy during divorce proceedings. Whether you need to safeguard sensitive business records, prevent media exposure, or maintain confidentiality in court filings, my firm handles these issues with care and precision throughout Orange County, Florida. To discuss your case, call 1-888-640-2999 to schedule a consultation.


Understanding Confidentiality in Florida High Net-Worth Divorce Cases

Divorce cases often involve highly personal information, including financial disclosures, business dealings, and private correspondence. Florida law requires certain information to be disclosed to the court, but there are legal tools that can help limit public exposure and protect client privacy.

Confidentiality concerns can arise from both parties in a divorce. The spouse seeking protection may worry about business interests, sensitive financial data, or public scrutiny. The other party, however, may need access to critical financial records to ensure a fair property division. Addressing both perspectives requires a strategic approach tailored to the unique aspects of each case.


Legal Framework for Confidentiality in Florida Divorces

Florida law requires transparency in divorce cases, particularly in financial disclosures. However, specific legal mechanisms can be used to maintain confidentiality where necessary. The following statutes and legal principles play a role in protecting privacy in high net-worth divorces:

  • Florida Family Law Rules of Procedure (Rule 12.285) – This rule mandates mandatory financial disclosures, requiring both parties to provide financial documents such as tax returns, bank statements, and business records. While disclosure is necessary, certain protections can be put in place.
  • Florida Public Records Law (Chapter 119, Florida Statutes) – Florida follows broad public records laws, meaning that many court filings become accessible to the public. However, judges have the discretion to seal sensitive documents when privacy concerns outweigh the public’s right to access.
  • Sealing Court Records (Florida Statutes § 119.071) – Parties can request to have portions of their case sealed, particularly when they involve sensitive business matters, proprietary information, or high-profile individuals.
  • Protective Orders (Florida Rule of Civil Procedure 1.280(c)) – These can be used to limit the disclosure of sensitive financial and personal information during litigation.

Understanding how these laws apply to your specific case is critical in crafting a strategy that protects your privacy while complying with Florida’s legal requirements.


Strategies for Maintaining Privacy During a High Net-Worth Divorce

Protecting confidentiality during a high net-worth divorce requires proactive legal planning. Here are some key strategies to help ensure discretion throughout the divorce process:

1. Sealing Sensitive Court Records

Florida courts generally keep family law matters public, but in high-stakes divorces, sensitive records can sometimes be sealed. Courts will weigh the need for privacy against the public’s right to access. Business valuation reports, personal medical records, and sensitive financial documents may be eligible for sealing when disclosure could cause harm.

2. Using Confidentiality Agreements

Confidentiality agreements between both parties, attorneys, and involved professionals can restrict the disclosure of case details. This is particularly useful for divorces involving prominent business owners, physicians, attorneys, and public figures.

3. Avoiding Public Courtrooms Through Mediation or Collaborative Divorce

Litigated divorces create a public record, whereas private dispute resolution methods like mediation or collaborative divorce allow both parties to negotiate outside the courtroom. These methods keep sensitive discussions and financial records away from public scrutiny while promoting amicable resolutions.

4. Protecting Business Interests

Business owners must take extra precautions to ensure company records and trade secrets remain protected. Strategies may include:

  • Keeping business financials out of public court records
  • Structuring settlements to protect business continuity
  • Establishing pre-divorce confidentiality agreements for employees and business partners

5. Minimizing Digital Footprints and Public Exposure

In today’s digital age, one careless social media post can expose sensitive details. We advise clients on best practices for maintaining discretion, including:

  • Avoiding social media discussions about the divorce
  • Monitoring online privacy settings
  • Using secure communication methods for legal discussions

6. Using Trusts and Asset Protection Strategies

Certain asset protection structures, such as trusts, can help shield financial information from public disclosure. We work closely with financial professionals to explore legal avenues that protect high-value assets.


Balancing Privacy with Transparency

While confidentiality is essential, Florida law also ensures that both parties have access to fair and accurate financial information. Transparency is critical when determining equitable distribution, spousal support, and child custody arrangements.

For individuals seeking to maintain privacy, legal protections must be weighed against the other spouse’s right to access financial records. Courts often require disclosures to prevent unfair settlements, but with proper legal guidance, it is possible to strike a balance between compliance and discretion.


FAQs About Confidentiality in High Net-Worth Divorce Cases

How can I keep my business financials private during my divorce?

Business records are often central to high net-worth divorce cases, and Florida law requires financial transparency. However, certain measures can protect privacy, including confidentiality agreements, sealed filings, and mediation. We work with business owners to develop legal strategies that safeguard sensitive financial data while meeting disclosure requirements.

Can I keep my divorce settlement details private?

Yes, in some cases, settlement agreements can be structured to remain confidential. Using out-of-court settlements, mediation, and sealed court filings can help keep financial terms out of public records. We assess each case individually to determine the best approach.

Will the media have access to my divorce case?

If a case is high-profile, the media may attempt to obtain court filings. However, requesting sealed documents and keeping proceedings out of the courtroom can help limit exposure. We handle high-profile cases discreetly to minimize media attention.

Are digital communications protected during a divorce?

Text messages, emails, and other digital communications can be used as evidence in divorce cases. We advise clients on best practices for digital security, including using encrypted communication methods and avoiding conversations that could be used against them in court.

What happens if my spouse leaks confidential financial information?

If your spouse discloses sensitive financial details, legal action can be taken. Florida law allows for protective orders and legal remedies if confidential information is improperly shared. We take swift action to prevent financial harm and protect our clients’ interests.

How can I avoid exposing my assets in court filings?

Asset protection strategies, such as trusts and alternative dispute resolution methods, can help reduce public exposure. We evaluate all options to minimize the disclosure of financial details while ensuring compliance with Florida law.


Call Attorney Beryl Thompson-McClary for High Net-Worth Divorce Representation

Confidentiality is critical in high net-worth divorce cases, and I take every precaution to protect my clients’ privacy. Whether you need legal strategies to safeguard business interests, maintain discretion in court proceedings, or ensure fair financial disclosure, my firm is here to provide comprehensive legal representation.

To discuss your case, call 1-888-640-2999 to schedule a consultation with our Orlando divorce attorney.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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Should You Sell Your Business or Keep It During a Florida Divorce?

Understanding Your Options in an Orlando High Net-Worth Divorce

Orlando is home to a thriving business community, with entrepreneurs, doctors, lawyers, and other professionals working hard to build and maintain their businesses. When facing a divorce, business owners must confront a critical decision: Should they sell their business or fight to retain ownership? This decision carries significant financial and legal consequences, particularly in high net-worth divorce cases.

I am Attorney Beryl Thompson-McClary, an Orlando high net-worth divorce Attorney, and I assist business owners and their spouses in evaluating the best course of action in divorce cases involving business assets. If you are going through a divorce in Orange County, Florida, and are unsure whether selling or keeping your business is the right choice, I can help you assess your options and protect your interests. Call my office at 1-888-640-2999 to schedule a consultation and get the legal guidance you need.


Understanding How Florida Law Treats Business Assets in Divorce

Florida follows equitable distribution laws under Section 61.075 of the Florida Statutes, which means that marital assets, including businesses, are divided fairly—but not necessarily equally—between spouses. The court first determines whether the business is marital property or separate property before considering how to distribute its value.

Marital vs. Separate Property in Business Ownership

  • If the business was started before the marriage and no marital funds were used to support or grow it, the court may consider it separate property and exclude it from the division process.
  • If the business was started during the marriage or if marital funds or efforts contributed to its growth, the business may be classified as marital property, making it subject to division.
  • Even if one spouse owned the business before marriage, any increase in value during the marriage may be considered a marital asset if the growth was due to joint efforts or financial contributions from both spouses.

Determining whether a business is subject to division requires careful financial analysis and legal evaluation. I work closely with financial professionals to ensure accurate business valuations, protecting my clients from unfair settlements.


Factors to Consider When Deciding to Sell or Keep Your Business

There is no universal answer to whether selling or keeping a business is the best option during a divorce. Each case requires careful analysis of financial, legal, and emotional factors.

Reasons to Keep Your Business

  • The Business Is Your Primary Source of Income: If the business is the primary source of your wealth and professional identity, keeping it may be essential to securing your financial future.
  • You Have a Strong Post-Divorce Business Plan: If you have a plan to maintain and grow the business after divorce, retaining ownership may be the best path forward.
  • The Business Has Long-Term Value: If the business is expected to increase in value, selling it now may not be in your best interest.
  • There Is No Fair Market for Sale: Some businesses are difficult to sell, especially those built around personal reputation, such as medical or legal practices.

Reasons to Sell Your Business

  • The Business Cannot Be Easily Divided: If your spouse is legally entitled to a share and a buyout is not financially feasible, selling the business and dividing the proceeds may be the best solution.
  • The Divorce Is Highly Contested: Some divorces become so contentious that maintaining a business partnership post-divorce is unrealistic.
  • Financial Security Is a Concern: Selling may provide liquidity and eliminate the risks of business fluctuations.
  • Your Spouse Has a Significant Claim to the Business: If your spouse has been actively involved in running the business or if their financial contributions have been substantial, they may seek a direct stake in operations, making a sale more practical.

I help clients carefully evaluate these factors to make informed decisions that align with their financial and legal interests.


Legal and Financial Considerations in Business Valuation

Whether selling or retaining a business, determining its true value is critical. Florida courts typically rely on forensic accountants and business valuation experts to determine the business’s worth. The valuation process considers:

  • Assets and Liabilities
  • Revenue and Profitability
  • Goodwill and Market Position
  • Future Earnings Potential
  • Comparable Business Sales

As an Orlando divorce attorney, I work with financial professionals to ensure that business valuations are accurate and fair, preventing either party from being shortchanged in the divorce process.


Negotiating a Settlement: Buyouts and Asset Offsets

If you wish to keep your business but your spouse is entitled to a portion of its value, there are several negotiation strategies available:

  • Buyout Agreement: Purchasing your spouse’s share of the business through a structured payment plan.
  • Asset Offsets: Trading other assets (such as real estate or investments) in exchange for full business ownership.
  • Profit-Sharing or Deferred Payouts: Agreeing to structured payments over time based on future business performance.

My role is to protect your interests, ensuring you do not overextend yourself in negotiations and securing a settlement that aligns with your long-term financial stability.


FAQs About Business Ownership and Divorce in Florida

Can I continue running my business during the divorce process?

Yes. However, courts may issue temporary orders restricting financial transactions that could significantly alter the business’s value. I ensure my clients maintain operational control while complying with legal requirements.

What if my spouse was never involved in the business? Can they still claim part of it?

Even if your spouse had no direct involvement, they may still be entitled to a share of the business’s value if marital funds were used for business growth. I analyze financial records to ensure fair treatment in these cases.

Will my business be forced to close because of my divorce?

Not necessarily. Many business owners successfully negotiate settlements that allow them to continue operations. I help clients explore all possible avenues before considering closure.

How is goodwill factored into business valuation?

Goodwill, or the intangible value of a business’s reputation and customer relationships, is often included in valuations. Courts distinguish between enterprise goodwill (which is transferable) and personal goodwill (which is tied to an individual). I advocate for accurate assessments that protect my clients’ financial interests.

Can a prenuptial or postnuptial agreement protect my business in divorce?

Yes. If properly drafted and enforceable, these agreements can shield business assets from division. If you have one in place, I will assess its validity and advocate for its enforcement.

What happens if my business partner is concerned about my divorce affecting the company?

Business partners often worry that a divorce will disrupt operations. I work with business owners to create legal agreements that protect both personal and business interests.


Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation

Determining whether to sell or keep your business in a high net-worth divorce requires careful legal and financial planning. I am committed to helping business owners and their spouses protect their interests and secure fair settlements. If you are facing this decision, call my office today at 1-888-640-2999 to schedule a consultation and discuss your best legal options.

Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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