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Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC

Divorce & Family Law of New Jersey

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(201) 880-9770
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Experienced Divorce Attorneys for Business Owners in New Jersey

Is your business at stake in a divorce? Learn what you can do to protect your hard-earned business. At Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC, we bring decades of experience in representing business owners in complex, contentious, and high-net-worth divorces. Our law offices are in Bergen County, but we represent clients throughout the State of New Jersey. 

How Business Assets Are Classified in the NJ Divorce Process

Under New Jersey law, with limited exceptions, any assets that either spouse acquires during their marriage will be subject to equitable distribution in their divorce. Common exceptions are inheritances or gifts that were never mingled with marital finances.

The marital property includes physical assets, like real estate and vehicles, and financial assets, like investment accounts. An ownership interest in a privately held business is another type of asset that can be marital property and subject to equitable distribution. If you are a business owner who is preparing to go through a New Jersey divorce, protecting your business should be among your top priorities. 

Dividing Marital Assets

The equitable distribution could mean dividing all of the assets 50/50, though what a court or couple considers equitable might not involve splitting everything down the middle. Depending on the facts, such as if one spouse has a far lower earning potential than the other spouse, he or she might be entitled to a greater amount of property or alimony. If you are not only a business owner but also the majority wage earner in your marriage, then talk with a lawyer right away about the business assets and potentially spousal support.

At Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC, our divorce lawyers have particular experience representing business owners. We serve business owners who have offices in New Jersey and across the river in New York City. Our law firm takes a personalized, custom-tailored approach that focuses on protecting your rights, securing your post-divorce independence, and minimizing your financial obligations to your former spouse.

Experienced Divorce Attorneys for Business Owners in New Jersey As a business owner, it is critical to understand whether your business is at stake in your divorce, and if so what you can do to protect it. data-src=

Key Considerations During a Business Divorce

While all separating spouses need to be proactive about protecting their rights in divorce, planning ahead is particularly important for owners of privately-held businesses and family businesses. Business owners need to know whether all or a portion of their ownership interest qualifies as marital property. If it does, they need to work with a family law attorney to develop and execute a strategy designed to limit their soon-to-be-former spouse from retaining an interest in the business.

When we counsel owners of New Jersey businesses preparing to go through a divorce, some of the key issues we assess include:

Marital vs. Separate Property 

Does all or a portion of your business qualify as marital property, which would make it subject to equitable distribution in your divorce? Or, is your business separate property that will not be at risk? 

Prenuptial or Mid-Marriage Agreement

Did you and your spouse sign a prenuptial agreement before you got married? If not, did you sign a mid-marriage agreement (or postnup)? If you signed an agreement, then you should talk with a divorce attorney about what is said directly or indirectly about the business. The terms of your agreement could override New Jersey’s default marital property laws. 

Your Spouse’s Involvement or Contributions

Was your spouse directly involved in the business? Is he or she also an owner or an employee of the business? If not, did he or she take on home and family responsibilities to allow you to devote your time to growing your company? 

If your spouse was regularly involved in helping you start and grow the business, this potentially gives him or her a stronger claim to a portion of the business in settlement negotiations.

The Business’s Bylaws and Shareholder Agreement

Does the business’s bylaws or shareholder agreement address divorce? Business owners and directors are aware that owners may get divorced one day, so they plan for the inevitable. The bylaws or a shareholder agreement might specifically say that an ex-spouse cannot retain an ownership interest in the business once divorced. 

While your spouse might be entitled to the value of a portion of the business, he or she might not be entitled to retain an ownership stake. 

Growth During Your Marriage and Separation

If you started the business before you got married, did it grow after you tied the knot? Did it grow even more after your separation date, if you and your spouse separated? The answers to these questions will be critical to determining if a portion of your business qualifies as marital property. 

Your spouse could have a right to a portion of the growth of the company that took place while you were married, even though the business was yours before the marriage took place. 

The Business Valuation

Assuming a portion of your business interest qualifies as marital property, what is the value of the business as well as the value of your spouse’s portion? Valuing the business is key to assessing your options regarding the equitable distribution of your marital assets in your divorce. 

We partner with business valuation experts to reach an accurate and fair amount. Experts will take into account many factors, including a business’s physical property, inventory, intellectual property, reputation, account receivables, debt, and more.

Steps We Take in a Divorce Involving Business Ownership

The New Jersey divorce lawyers of Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC, help business owners and their spouses address complex property issues in divorce cases. As your law firm, our New Jersey divorce lawyers can help you protect your interests by:

  • Understanding your relationship to the business, whether you are a founder, part-owner, stay-at-home parent or other type of stakeholder
  • Utilizing well-known experts, such as forensic accountants, to evaluate your business and make recommendations as to its value
  • Negotiate with the other side to reach agreement as amicably as possible
  • Addressing related issues of child support and alimony

Call Our Business Owner Divorce Attorneys Today

For more information about common business issues in divorce cases, and the steps you can take to protect your privately-held business during your divorce, contact the Bergen County, NJ, family law offices of Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC. We offer highly experienced and skilled legal representation for business owners. To schedule an initial consultation, call 201-552-3394 or inquire online today.

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Getting a divorce is never easy. You have to think about how it will go: easy or hard. You can enter into divorce mediation if both of you agree and sign a contract stating that you will do your best to work out all the many issues without involving the court. Or you can choose
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For millions of Americans, divorce is a reality of life. No matter what your intentions may have been when you entered into marriage, something changed — and you know that the marriage cannot be saved. The process of divorce can be incredibly stressful. Not only are you dealing with the break up with your family,
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One of the most difficult moments in anyone’s life can be acknowledging a marriage is over. Some Hackensack spouses reach that conclusion alone. Asking for a divorce is hard enough without resistance from a spouse, but mismatched desires about preserving a marriage aren’t uncommon. It is reasonable to assume news of divorce is shocking, even
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Back in the days when dual-income households were few and far between, continued financial support was vital support for non-working spouses at the end of a marriage. One spouse, almost always the wife, often did not have the education or skills to become self-sufficient following a Hackensack divorce. Courts awarded alimony to balance the former spouses’
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Attorney Carrie S. Schultz

Carrie S. Schultz, Esq. – author

Thank you for visiting our site. We realize that if you are reading this, you or someone you know is having marital or family difficulties. We truly understand how unsettling that can be for all involved. I personally want to invite you to explore the website which contains a lot of informational and educational items which I hope is of benefit to you. I also welcome you to contact us to schedule a consultation to discuss your matter in greater detail. Our firm philosophy is to always remain committed to providing our clients with the best service, care, guidance, communication, and legal advice possible for your particular situation. We take seriously you entrusting us with your legal matter. Happy researching! Attorney Bio

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  • Stages of Divorcing a Narcissist
  • What can I expect in My Divorce if my Spouse has a Personality Disorder?
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  • How to File an Emergency Custody Order in New Jersey

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Men’s & Fathers’ Rights Divorce Lawyers by Schultz & Associates, LLC

55 Hudson Street
Hackensack, NJ  07601

(201) 880-9770

(201) 880-9771

Hours: Monday to Friday: 9:00 AM – 5:30 PM

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