Protecting Your Business in an Orlando Divorce

Protecting Your Business in an Orlando Divorce: Key Strategies

Safeguarding Your Livelihood Amid Legal Challenges

Orlando, Florida, is home to a vibrant community of professionals, entrepreneurs, and business owners. With its thriving economy and diverse opportunities, many individuals in Orange County have built successful businesses that form the cornerstone of their livelihoods. However, when facing a divorce, the business you’ve worked hard to establish can become a central point of contention. Ensuring its protection during divorce proceedings requires careful planning and skilled legal representation.

I’m Attorney Beryl Thompson-McClary, and I understand how deeply personal and financially significant these matters are. My team and I focus on helping business owners, professionals, and high net-worth individuals protect their assets during divorce proceedings. If you are navigating these challenges, I can provide guidance, support, and advocacy tailored to your unique circumstances. Call me at 1-888-640-2999 for an initial consultation to discuss your case and learn how I can assist you throughout Orange County, Florida.


Why Protecting Your Business in a Divorce Matters

For many, a business is more than just an income source—it represents years of dedication, creativity, and sacrifice. When a marriage ends, Florida law requires an equitable distribution of marital assets. This means that if your business is deemed marital property, its value may be subject to division. Without a strategic approach, this can lead to significant financial and operational challenges, including the potential sale of the business or loss of control over its operations.

At my firm, I guide clients through these issues by offering practical strategies and sound legal advice. Whether you’re a sole proprietor, a shareholder in a corporation, or a partner in a professional practice, I can help you navigate the legal complexities to protect what matters most.


Key Legal Issues Under Florida Statutes

Florida operates under the principle of equitable distribution, outlined in Florida Statute § 61.075. This statute governs how marital assets and liabilities are divided during divorce proceedings. While equitable doesn’t always mean equal, the court’s goal is to achieve a fair outcome based on factors such as the duration of the marriage, each spouse’s contribution to the marriage, and the economic circumstances of both parties.

Is Your Business a Marital or Non-Marital Asset?

One of the first issues we need to address is whether your business is considered marital property. Under Florida Statute § 61.075(6):

  • A business acquired during the marriage is generally treated as marital property.
  • A business owned before the marriage may remain a non-marital asset unless its value or operations were enhanced using marital funds or efforts.

If your spouse contributed to the business, whether financially or through unpaid support, such as managing household responsibilities, they might claim a portion of its value.

Business Valuation

Determining the value of a business is a critical step in divorce proceedings. This involves assessing its tangible and intangible assets, income, and goodwill. Florida courts often rely on forensic accountants to perform these valuations, ensuring that the business’s worth is accurately represented. Missteps during this process can significantly impact the division of assets, making it essential to work with experienced legal and financial professionals.


Strategies to Protect Your Business During Divorce

Pre- and Postnuptial Agreements

One of the most effective ways to safeguard your business is by establishing a prenuptial or postnuptial agreement. These contracts can specify that the business remains a separate asset, protecting it from division regardless of the circumstances.

Structuring Business Ownership

The way your business is structured can impact its vulnerability during a divorce. For example:

  • Partnership Agreements: Include provisions that limit ownership transfers during divorce proceedings.
  • Corporations or LLCs: Clearly define ownership rights and restrictions in your corporate bylaws or operating agreement.

Keeping Personal and Business Finances Separate

Commingling personal and business funds can blur the lines between marital and non-marital property. It’s crucial to maintain separate accounts and detailed financial records to demonstrate that your business remains distinct from marital assets.

Negotiation and Settlement

In many cases, negotiation and settlement can help you retain full control of your business. This may involve offering your spouse other assets, such as real estate or cash, in exchange for their interest in the business.

Court Orders and Legal Advocacy

If settlement negotiations fail, the court will decide how to handle your business. Having a skilled attorney who understands the intricacies of Florida’s laws can significantly influence the outcome. I work tirelessly to present compelling evidence and arguments to protect my clients’ interests.


Ramifications of Improper Planning

Failing to take proactive steps can lead to severe consequences, including:

  • Loss of Control: Partial ownership or operational interference by your ex-spouse.
  • Forced Sale: The court may order the sale of the business to divide its value.
  • Financial Strain: Significant payouts to a spouse can impact your business’s cash flow and long-term stability.

I aim to help my clients avoid these pitfalls by addressing potential issues early and crafting tailored solutions that align with their priorities.


Why Choose Attorney Beryl Thompson-McClary?

I understand the challenges high net-worth individuals face in divorce. My approach combines a deep understanding of Florida family law with a commitment to protecting your financial future. When you work with me, you can expect:

  • Personalized Attention: Your case is unique, and I treat it as such.
  • Strategic Advocacy: I prioritize your goals while navigating the legal complexities.
  • Comprehensive Support: From business valuations to courtroom advocacy, I’m with you every step of the way.

If you need legal guidance, don’t wait. Call me at 1-888-640-2999 to schedule an initial consultation.


FAQs About Protecting Your Business in a Divorce

Can I keep my business entirely separate from marital property?
Yes, but this depends on several factors. If you owned the business before marriage and kept its finances and operations entirely separate from marital resources, it may remain non-marital property. However, any increase in value or contributions from your spouse during the marriage could complicate this.

How is a business valued during a divorce?
Valuation involves assessing tangible and intangible assets, including equipment, real estate, revenue, and goodwill. Courts often rely on financial experts to conduct a fair valuation. The business’s structure, profitability, and market conditions all play a role in determining its value.

What happens if my spouse claims part of my business?
If the court deems the business marital property or determines your spouse contributed to its growth, they may be entitled to a share. This can be resolved through asset division, a buyout, or other financial arrangements.

How can I protect my business before getting married?
A prenuptial agreement is one of the most effective tools. It can specify that the business remains separate property and outline how its value will be treated in the event of divorce.

Is it possible to protect a business started during the marriage?
Yes, but it requires careful financial planning. Keeping detailed records and limiting your spouse’s involvement in the business can help. Additionally, structuring ownership agreements to restrict transfers can offer added protection.

Can my spouse force the sale of my business?
While this is rare, the court could order a sale if no other fair solution is available. To avoid this, you can negotiate a settlement where your spouse receives other assets in exchange for relinquishing their claim to the business.

How does my professional license factor into divorce?
Professional licenses, such as those for doctors or lawyers, are not divisible as marital property. However, the income generated from the license during the marriage may be considered.

What role does a forensic accountant play in a divorce?
Forensic accountants analyze financial records to ensure all assets are disclosed and accurately valued. They are particularly valuable in high net-worth cases involving complex business structures.

Can I negotiate a settlement instead of going to court?
Yes, many divorces are resolved through negotiation. Settlement can be faster, less expensive, and more private than litigation. Having an attorney who understands your business’s value and priorities is critical to securing a favorable agreement.

Why should I choose Attorney Beryl Thompson-McClary for my case?
I have extensive experience representing high net-worth individuals, business owners, and professionals in Orlando. I focus on protecting your financial future while ensuring your business remains intact. Call 1-888-640-2999 to schedule an initial consultation and learn how I can help.


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

If you’re considering divorce, I can help you understand your options, handle the legal processes, and provide peace of mind. Call me for a free consultation at 1-888-640-2999 to discuss your situation. Together, we’ll determine the best course of action for your family.

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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