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How Florida Courts Determine Custody in High Net-Worth Divorces

How Florida Courts Determine Custody in High Net-Worth Divorces.

Understanding Child Custody in Orlando’s High Net-Worth Divorce Cases

Orlando is home to many successful professionals, entrepreneurs, and high-income earners who face unique challenges when dealing with divorce and child custody disputes. In high net-worth divorces, child custody battles can become even more complex due to demanding careers, substantial assets, and concerns about the child’s lifestyle and upbringing. As an Orlando high net-worth divorce Attorney, I have helped parents on both sides of custody disputes protect their parental rights while ensuring that their children’s best interests remain the top priority.

I’m Beryl Thompson-McClary, and I handle complex divorce and custody cases throughout Orange County, Florida. If you are facing a high-stakes custody dispute, you need legal representation that understands the unique challenges of high net-worth divorces. Call 1-888-640-2999 to schedule a consultation and discuss the best strategy for your case.

How Florida Law Addresses Child Custody in Divorce Cases

Florida law refers to child custody as time-sharing and parental responsibility, shifting away from terms like “sole custody” or “joint custody.” Courts focus on determining what is in the child’s best interests, considering multiple factors to create a parenting plan that serves the child’s emotional, educational, and financial needs.

Under Florida Statutes §61.13, the court evaluates the child’s best interests by examining factors such as:

  • The ability of each parent to provide a stable and nurturing home environment.
  • The emotional ties between each parent and the child.
  • The child’s current living situation, school, and community involvement.
  • Each parent’s ability to provide for the child’s needs, including education and healthcare.
  • The moral fitness and mental and physical health of each parent.
  • Any history of domestic violence, substance abuse, or criminal behavior.
  • The willingness of each parent to encourage a positive relationship between the child and the other parent.

In high net-worth divorces, courts also consider factors such as high-income parents’ travel schedules, work obligations, private school tuition, and the child’s standard of living. Balancing parental responsibilities with demanding careers often becomes a key issue in these cases.

Custody Considerations in High Net-Worth Divorces

When One Parent Seeks Primary Custody

In some high net-worth divorces, one parent may argue for majority time-sharing, meaning the child primarily resides with them while the other parent has scheduled visitation. The reasons for seeking primary custody often include:

  • The ability to provide a more stable daily routine.
  • Concerns about the other parent’s demanding career and frequent travel.
  • The child’s preference (if they are of a suitable age and maturity level).
  • The continuity of the child’s schooling, social life, and extracurricular activities.

Florida courts, however, do not favor one parent over the other based on gender or financial status. Instead, judges evaluate whether the parent’s arguments align with the child’s best interests under Florida law. If one parent travels extensively or has an unpredictable work schedule, the court may grant them less time-sharing but still ensure they have meaningful involvement in the child’s life.

When Parents Seek Equal Time-Sharing

Many high-income parents prefer a 50/50 time-sharing arrangement, allowing both parents to maintain strong relationships with their children. In these cases, courts evaluate whether equal time-sharing is feasible based on:

  • The parents’ ability to communicate and co-parent effectively.
  • The child’s school schedule and the proximity of each parent’s residence.
  • Whether each parent’s home environment is suitable for the child.
  • Any logistical issues, such as one parent frequently being out of state or country.

Parents who can create a detailed parenting plan that outlines responsibilities, transportation arrangements, and decision-making processes often have a better chance of securing a 50/50 time-sharing agreement.

Financial Considerations in High Net-Worth Custody Cases

High net-worth divorces often involve substantial financial resources, and Florida courts expect both parents to contribute to their child’s standard of living, education, and overall well-being. Some key financial issues include:

Child Support in High-Income Cases

Florida uses a statutory formula to calculate child support, but in high-income cases, courts have the discretion to deviate from standard guidelines under Florida Statutes §61.30. If one parent’s income significantly exceeds the guidelines, additional child support may be awarded to cover:

  • Private school tuition and extracurricular activities.
  • Travel expenses for time-sharing in long-distance custody cases.
  • Luxury lifestyle considerations, such as international travel and specialized childcare.

Educational and Extracurricular Costs

In high net-worth divorces, disputes often arise over private school tuition, tutoring, and extracurricular activities. Courts may order both parents to contribute proportionally based on their income and financial standing. If one parent insists on enrolling the child in expensive programs, the court may evaluate whether those costs are reasonable and necessary.

Trust Funds and Inheritance Considerations

Parents in high net-worth divorces may need to address how trust funds, inheritance, and estate planning impact child custody. Courts typically do not count trust assets as child support, but they may factor into the child’s overall financial security.

High-Conflict Custody Disputes

In some high net-worth divorces, custody battles become contentious. Some common sources of conflict include:

  • Parental Relocation: One parent may want to move out of state for business or personal reasons, leading to a court dispute over the child’s residency.
  • Allegations of Parental Unfitness: If one parent raises concerns about the other’s lifestyle, substance use, or parenting decisions, courts may require investigations or supervised visitation.
  • International Custody Issues: Parents with business ties or family overseas may face challenges involving international custody laws and parental abduction concerns.

In high-conflict cases, courts may appoint a guardian ad litem to represent the child’s interests or require psychological evaluations before making a final custody determination.

FAQs About Custody in Florida High Net-Worth Divorces

How do Florida courts determine child custody in high net-worth divorces?
Florida courts evaluate factors such as each parent’s ability to provide a stable home, the child’s needs, and the parents’ work schedules. Judges aim to create a parenting plan that serves the child’s best interests while ensuring both parents have meaningful involvement.

Does one parent’s wealth give them an advantage in custody disputes?
No. Florida law does not favor a parent solely based on financial status. However, courts consider the child’s lifestyle and financial security when determining time-sharing and parental responsibilities.

Can a parent relocate with the child after a high net-worth divorce?
Relocation requires court approval if it affects the other parent’s time-sharing. The requesting parent must show that the move is in the child’s best interests.

How can a parent protect their custody rights in a high net-worth divorce?
Having a detailed parenting plan, maintaining open communication, and working with a skilled attorney can strengthen a parent’s case in custody disputes.

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

If you are involved in a high net-worth divorce and facing child custody challenges, legal representation is essential. Call 1-888-640-2999 to schedule a consultation and discuss your case. I will help you develop a strong legal strategy to protect your parental rights and your child’s well-being.

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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Custody Issues for Parents With Demanding Professional Careers

Custody Issues for Parents With Demanding Professional Careers

Balancing Career and Custody in Orlando High Net-Worth Divorce Cases

Orlando is home to many high-achieving professionals, including doctors, attorneys, business executives, and entrepreneurs. While these careers provide financial security, they also come with demanding schedules that can complicate child custody arrangements in a divorce. If you are a working parent with a busy professional life, custody matters must be handled with care to ensure a fair arrangement that supports both your career and your child’s well-being.

I am Beryl Thompson-McClary, an Orlando high net-worth divorce Attorney, and I assist clients with high-conflict and high-asset custody cases. Whether you are a parent striving to maintain equal custody while managing an intense work schedule or a parent seeking a balanced agreement that prioritizes your child’s stability, I am here to help. I handle complex custody matters throughout Orange County, Florida, and I invite you to call 1-888-640-2999 to schedule a consultation.

Custody Challenges for High-Profile Professionals in Florida

Parents with demanding careers often face unique custody concerns, including:

  • Unpredictable Schedules: Physicians, business owners, and executives often work long or irregular hours, making it difficult to maintain a traditional parenting schedule.
  • Travel Requirements: Many professionals frequently travel for work, creating obstacles to consistent time-sharing.
  • Workplace Demands: Court schedules and mandatory in-person responsibilities can complicate the ability to be present for school activities, medical appointments, and daily parenting routines.
  • Public Image Considerations: Some high-profile clients worry about privacy concerns related to child custody proceedings.

In Florida, courts prioritize the best interests of the child. A parent’s ability to provide a stable environment, meet emotional and educational needs, and maintain a meaningful relationship with the child all factor into custody decisions.

Legal Considerations in Florida Custody Cases for Working Parents

Under Florida Statutes §61.13, family courts assess several factors when determining custody, legally referred to as time-sharing. These factors include:

  • The ability of each parent to provide a stable environment
  • The willingness of each parent to facilitate a relationship with the other parent
  • Each parent’s ability to prioritize the child’s needs over work commitments
  • The child’s adjustment to home, school, and community
  • Any history of domestic violence, substance abuse, or neglect
  • The ability of each parent to participate in school and extracurricular activities

For high-income professionals, structuring a time-sharing agreement that accommodates career obligations while prioritizing a child’s well-being requires strategic planning.

Strategies for Parents Seeking Custody While Managing a Demanding Career

If you are a parent with an intensive work schedule, you may wonder whether you can maintain an active parenting role. Florida courts do not automatically favor a stay-at-home parent over a working parent, but they do consider stability and availability. The following strategies can help secure a favorable time-sharing plan:

  • Flexible Parenting Plans: Customizing a time-sharing agreement that accommodates professional obligations while ensuring quality parenting time.
  • Third-Party Support: Incorporating reliable childcare, family assistance, or a co-parenting facilitator to ensure the child’s needs are met during work hours.
  • Technology-Assisted Parenting: Utilizing video calls and messaging to maintain engagement when in-person parenting time is limited due to work travel.
  • Advance Scheduling: Implementing structured schedules that consider court holidays, seasonal work demands, and travel constraints.
  • Demonstrating Parental Commitment: Showing the court that, despite a demanding career, you remain actively involved in the child’s upbringing.

As an Orlando high net-worth divorce Attorney, I work with professionals to develop time-sharing plans that account for career responsibilities while meeting Florida’s legal standards for parental involvement.

When One Parent Claims the Other’s Career Is a Custody Concern

In some cases, one parent may argue that the other’s demanding job negatively impacts parenting ability. Concerns often raised include:

  • Frequent work-related absences affecting stability
  • Late-night or emergency work obligations disrupting routines
  • Lack of availability for school events, extracurricular activities, and doctor’s appointments
  • Inconsistent or unpredictable scheduling leading to stress for the child

If you are the parent facing this argument, you must demonstrate your ability to maintain a meaningful relationship with your child despite your career obligations. Providing a structured plan that accommodates your work schedule while prioritizing the child’s well-being is critical.

Conversely, if you believe your co-parent’s career prevents them from fulfilling their parenting obligations, I can assist in presenting a strong case for a more stable arrangement that best serves the child’s needs.

The Impact of Relocation on Custody for Professionals

Some professionals are required to relocate for career advancement. Under Florida Statutes §61.13001, if a parent seeks to move more than 50 miles away, they must:

  • Obtain permission from the other parent or
  • Petition the court for approval, demonstrating how the move serves the child’s best interests

Factors the court considers include:

  • How the relocation will improve the child’s quality of life
  • Whether a new time-sharing schedule can preserve the child’s relationship with both parents
  • The feasibility of transportation and long-distance parenting arrangements

If you are considering relocation or opposing a relocation request, legal representation is essential in ensuring the court fully evaluates the impact on custody and parenting time.

FAQs About Custody Issues for Parents With Demanding Careers

Can my career affect my ability to have shared custody?

Your career alone does not disqualify you from shared custody. However, if your work schedule prevents you from meeting your child’s needs, the court may consider an alternative time-sharing plan. A well-structured parenting plan that accounts for your professional commitments can help secure a favorable arrangement.

What if my co-parent claims my work schedule makes me an unfit parent?

If your co-parent raises concerns about your availability, you can counter with evidence demonstrating how you prioritize parenting responsibilities. A clear time-sharing plan, reliable childcare arrangements, and documented involvement in your child’s life can strengthen your case.

Can I modify a custody agreement if my job requires more travel?

Yes. If a significant change in work obligations affects an existing custody arrangement, you may petition the court for a modification under Florida Statutes §61.13. The court will evaluate whether the change is substantial and whether a revised schedule better serves the child’s interests.

Can I request more custody if my co-parent’s job is interfering with parenting?

If the other parent’s career is preventing them from fulfilling their parental responsibilities, you may petition for a modification. The court will assess whether their work schedule negatively affects the child’s well-being and stability.

What if my job requires me to relocate?

A parent seeking to relocate must either obtain agreement from the other parent or receive court approval. The court evaluates whether the move benefits the child and whether alternative time-sharing arrangements can maintain the parent-child bond.

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

If you are facing custody concerns as a professional with a demanding career, securing experienced legal representation is critical. As an Orlando high net-worth divorce Attorney, I help parents structure agreements that accommodate work obligations while ensuring the best possible outcome for their children. Call 1-888-640-2999 to schedule a consultation and discuss your custody 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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Negotiating Buyouts for Business Interests in Florida Divorce Settlements

Negotiating Buyouts for Business Interests in Florida Divorce Settlements.

High Net-Worth Divorce and Business Ownership in Orlando

Orlando is home to a growing number of business owners, professionals, and entrepreneurs who have built successful enterprises. When divorce becomes a reality, one of the most significant financial issues is determining what happens to business interests. Business owners often want to retain full control, while spouses who contributed to the business may seek a fair share.

As an Orlando high net-worth divorce Attorney, I work with clients on both sides of this issue, helping business owners secure their companies while ensuring spouses receive equitable compensation. Whether you are looking to negotiate a buyout or claim your fair share of a business asset, I am here to guide you through the legal process. Call me, Beryl Thompson-McClary, at 1-888-640-2999 to schedule a consultation and discuss your case.

How Florida Law Defines Business Interests in Divorce

Florida follows the principle of equitable distribution, which means that marital assets are divided fairly, though not necessarily equally. Under Florida Statutes §61.075, the court classifies property as either marital or non-marital before dividing assets. A business interest may fall into either category depending on when it was established and how it was maintained during the marriage.

  • Marital Business Interests: If a business was started or acquired during the marriage, it is typically considered marital property. Even if one spouse was not actively involved in running the business, they may still have a claim to a share of its value.
  • Non-Marital Business Interests: If the business was owned before the marriage and no marital assets or labor were used to increase its value, it may be considered separate property. However, if the business grew substantially during the marriage due to shared efforts, the increase in value could be subject to division.

A business buyout in divorce is often the best way to resolve disputes without disrupting the company’s operations. The challenge lies in negotiating a fair valuation and structuring a settlement that both parties can agree upon.

Buyout Options for Business Owners in Divorce

If you are a business owner facing divorce, keeping your business intact is likely a priority. There are several ways to negotiate a buyout:

1. Cash Buyout

The most straightforward option is purchasing your spouse’s share of the business with a lump sum payment. This requires an accurate valuation of the company to determine the fair market price. If liquidity is an issue, financing options may be available to facilitate the transaction.

2. Asset Exchange

Instead of a direct cash payment, one spouse may compensate the other by relinquishing claims to other assets of equivalent value. This could include real estate, retirement accounts, investment portfolios, or other valuable property.

3. Structured Settlement Payments

If a lump sum buyout is not feasible, the business owner may negotiate a structured settlement that allows payments over time. This approach can ease financial strain while ensuring the other spouse receives fair compensation.

4. Business Loan Buyout

Some business owners seek commercial loans to fund a buyout. This option can work well for those with strong financial standing and business credit.

5. Third-Party Business Sale

If neither spouse wants to maintain ownership, selling the business to a third party may be the best solution. The proceeds are then divided according to the divorce settlement.

When a Spouse Seeks Their Share of the Business

If you are the non-owner spouse, ensuring that you receive an equitable settlement is crucial. Here are key considerations to protect your financial interests:

  • Proper Business Valuation: A professional valuation is essential to determine what the business is worth. Courts often rely on forensic accountants to analyze financial records and establish an accurate value.
  • Assessing Contributions: If you contributed to the business financially or through unpaid labor, these contributions should be factored into the settlement.
  • Income Considerations: If the business generates significant income, a fair buyout should account for the long-term financial impact of losing ownership.
  • Tax Consequences: Selling or transferring business shares may have tax implications. Consulting with financial experts ensures that the settlement is structured to minimize tax burdens.

By working with an Orlando high net-worth divorce Attorney, you can negotiate a buyout agreement that reflects the true value of your contributions to the business.

Florida Statutes and Legal Considerations in Business Buyouts

Under Florida Statutes §61.075, courts examine multiple factors when determining equitable distribution, including:

  • The financial contributions of each spouse to the business
  • The length of the marriage and whether the business was established before or during the marriage
  • Whether one spouse sacrificed career opportunities to support the business owner
  • The current and projected value of the business

Additionally, under Florida Statutes §61.08, alimony may also factor into the final settlement if one spouse has significantly higher income due to business ownership.

FAQs About Business Buyouts in Florida Divorce Cases

How is a business valued in a Florida divorce?
Florida courts rely on forensic accountants and business valuation experts to assess financial records, market conditions, and company assets. Valuation methods may include asset-based, income-based, or market-based approaches.

Can my spouse claim a share of my business if they never worked there?
Yes, if the business increased in value during the marriage due to joint financial support, marital funds, or indirect contributions, your spouse may have a claim under Florida’s equitable distribution laws.

What happens if we cannot agree on a business valuation?
If spouses dispute the valuation, each may hire separate experts to provide independent assessments. The court may then determine a fair value based on the presented evidence.

Is selling the business always necessary in divorce?
No, selling the business is only one option. Most business owners negotiate buyouts, structured settlements, or asset exchanges to retain ownership.

What if my spouse tries to undervalue the business?
If one spouse attempts to manipulate financial records, a forensic accountant can investigate potential discrepancies and uncover hidden income or assets.

How can a high net-worth divorce attorney in Orlando help with business buyouts?
An experienced attorney will protect your interests by ensuring the valuation is accurate, negotiating a fair buyout structure, and minimizing financial risks.

What tax implications should I consider when buying out my spouse?
Business buyouts may involve capital gains tax, transfer taxes, and potential restructuring costs. Consulting with financial professionals can help you plan accordingly.

Can my spouse be forced to sell their share of the business?
If a fair buyout cannot be negotiated and court intervention is necessary, a judge may order the sale of the business if it is the only viable option for equitable distribution.

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

Negotiating a business buyout in a Florida divorce requires strategic planning and skilled legal representation. Whether you are seeking to retain your business or secure your fair share of its value, I can help. Call me, Beryl Thompson-McClary, at 1-888-640-2999 to schedule a consultation and 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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Can a Business Stay Intact After a Florida Divorce?

Can a Business Stay Intact After a Florida Divorce?

Protecting Business Interests During High Net-Worth Divorce in Orlando

Orlando is home to a thriving business community, with professionals, entrepreneurs, and executives building successful companies across various industries. When a high net-worth divorce occurs, one of the most pressing concerns is what happens to a business that one or both spouses own. Whether you are a business owner looking to protect your company or a spouse seeking a fair division of marital assets, these cases require strategic legal representation.

As an Orlando high net-worth divorce Attorney, I have helped business owners and their spouses resolve complex property division disputes while ensuring financial stability. I am Beryl Thompson-McClary, and I represent clients throughout Orange County, Florida, handling intricate high-asset divorces where businesses are involved. Call 1-888-640-2999 to schedule a consultation and discuss your legal options.

Understanding Business Ownership in Florida Divorce Cases

Florida is an equitable distribution state, meaning marital assets are divided fairly but not necessarily equally. Under Florida Statutes §61.075, the court determines whether a business is a marital or non-marital asset and how it should be divided.

  • Marital Property: If a business was started or acquired during the marriage, it is generally considered marital property, subject to division.
  • Non-Marital Property: If a business was established before the marriage and remained separate, it may not be subject to division. However, any increase in its value during the marriage could be considered a marital asset if one spouse contributed to its growth.

The classification of a business as marital or non-marital can significantly impact whether it remains intact after divorce. Determining its status requires a careful review of financial records, ownership agreements, and contributions made by both spouses.

How Business Owners Can Protect Their Companies in Divorce

For business owners seeking to keep their companies intact, several legal strategies can help:

  • Prenuptial and Postnuptial Agreements: These agreements can clarify business ownership and protect companies from being considered marital assets.
  • Buyout Arrangements: One spouse may negotiate a buyout to retain full control of the business.
  • Business Valuation: Obtaining an accurate valuation ensures that any division or buyout reflects the true worth of the business.
  • Structuring Compensation Properly: Adjusting the way income is paid to the business owner may affect how much of the company is considered marital property.
  • Operating Agreements and Trusts: Business owners who have agreements in place restricting ownership to specific individuals may be able to protect their interests.

If you own a business and want to ensure it remains intact after your divorce, I can help you explore legal options tailored to your situation.

When a Spouse May Have a Right to Business Assets

If you are the spouse of a business owner, you may have a rightful claim to part of the business’s value, particularly if:

  • You contributed financially to the company.
  • You played a role in its operations, even informally.
  • Marital funds were used to grow the business.
  • The business increased in value during the marriage.

Florida law provides that even if a business was started before marriage, any appreciation in its value during the marriage due to either spouse’s contributions may be considered marital property. This means a spouse may be entitled to part of the business’s value, even if they were not directly involved in its daily operations.

Business Valuation in Florida Divorce Cases

Before determining whether a business can stay intact, an accurate valuation is required. Florida courts rely on professional appraisals to determine a business’s fair market value. Valuation methods include:

  • Income Approach: Based on projected future earnings.
  • Asset Approach: Focuses on the company’s assets and liabilities.
  • Market Approach: Compares the business to similar companies that have been sold.

If the business is subject to division, the valuation will impact whether one spouse can buy out the other, whether alternative assets will be exchanged, or whether the business may need to be sold.

Can a Spouse Be Forced to Sell Their Business in a Florida Divorce?

In some cases, a business owner may be required to sell the business or a portion of their ownership interest to satisfy a property division settlement. This can happen when:

  • There are insufficient other assets to offset the value of the business.
  • The business is jointly owned, and one spouse does not want to sell their interest.
  • Financial disputes prevent a fair buyout agreement.

However, selling a business is typically a last resort. Courts generally prefer solutions that allow the company to continue operating, as long as both parties receive a fair share of marital assets.

Florida Statutory Considerations for Business Division

Under Florida Statutes §61.075, the court considers various factors when dividing business assets, including:

  • The contribution of each spouse to the business’s success.
  • The economic circumstances of both spouses after divorce.
  • Any agreements, such as prenuptial or postnuptial contracts.
  • The length of the marriage and whether the business was established before or during the marriage.
  • Each spouse’s earning capacity and financial need.

If the business remains intact, the court ensures that the non-owner spouse receives a fair financial settlement through other assets, structured payments, or spousal support.

FAQs About Business Ownership and Divorce in Florida

How does a court determine if a business is marital property?

The court reviews how and when the business was acquired, financial contributions from both spouses, and any appreciation in value during the marriage. Even if one spouse solely owned the business, if marital funds were used or if the other spouse contributed to its success, it may be considered marital property.

Can I prevent my spouse from claiming part of my business in a divorce?

If the business was established before marriage and no marital assets were used to fund it, you may be able to keep it separate. Prenuptial or postnuptial agreements and properly structured business agreements can help safeguard ownership.

What happens if both spouses own the business together?

Options include continuing co-ownership, one spouse buying out the other, or selling the business and splitting the proceeds. The best option depends on the relationship between the spouses and the financial feasibility of a buyout.

What if my spouse is hiding business assets?

If you suspect your spouse is concealing business income or undervaluing assets, forensic accounting can help uncover hidden finances. Courts take financial dishonesty seriously and may impose penalties for failing to disclose assets.

Should I negotiate a settlement or go to trial over business division?

Settlement negotiations often lead to better outcomes, as they allow for customized solutions. However, if an agreement cannot be reached, litigation may be necessary to ensure a fair division of assets.

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

If your divorce involves a business, you need experienced legal guidance to protect your financial future. Whether you want to keep your business intact or ensure you receive your fair share, I am here to help. Call 1-888-640-2999 to schedule a consultation and discuss your case today.

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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The Role of Business Partners in Florida Divorce Proceedings

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

A 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

A 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

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?

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

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?

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

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

A 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

A 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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