A Smarter Way To Divide Private Business Assets In Everett And Snohomish County
Community property in Washington goes beyond property in the home or in bank accounts. If you and your spouse developed, acquired or experienced gains or losses in a privately held business, those assets and debts will be considered in your high-asset divorce agreements.
If your divorce involves private business assets, it is crucial that you work with an attorney who understands and can address the complexity of these issues. At Akiona Law, PLLC, we offer experience in both divorce law and in business valuation for our clients throughout Snohomish County and surrounding areas of Washington state, including Seattle and King County.
Though a business is a significant asset, you can still choose mediation, negotiation or collaborative law over taking the case to court. Typically, people have more success with one of these dispute resolution methods, even in complex cases. Financial experts, business valuators and other professionals may play a role in the process to ensure both parties understand what is at stake and what the short- and long-term consequences are. With a non-adversarial process such as mediation or collaborative law, the parties tend to be less contentious, which leads to better decision-making and a faster resolution. Talk to us if you are wondering how these methods might benefit you, and our experienced lawyers will be happy to help.
Skilled Representation For Small Business Owners
Our clients come to us with questions that involve small to mid-sized enterprises such as:
- Self-employed service-based businesses such as tailoring and alterations, salons and business consultant services
- Family-owned restaurants, coffee shops, bakeries and other food service organizations
- Construction companies, auto repair shops and landscaping companies
Each Spouse’s Right To Assets From A Business
A marriage may involve one stay-at-home parent and one “breadwinner” who manages the business. Even though the individual who stays at home does not directly work for the privately held business, he or she is likely to be viewed as contributing to the business’s success by providing support in other areas of the relationship. Since marriages are viewed under the law similarly to businesses, assets and debts are divided equitably according to each party’s contributions to its success.
Contact Us If You Are Going Through A Divorce And Need Help Dividing A Business
To learn more about how business assets might be divided in your divorce case, and how you can best protect your income and debt obligations in the process, contact the team at Akiona Law, PLLC. Our office in Everett, Washington, can be reached by telephone at 425-740-2209 or contact us online for an initial consultation.