Protecting Your Business During A Separation in VA

Women business owners going through a separation in VA need to think about protecting their assets. A Virginia Beach divorce attorney can advise you on the best steps to take to secure your business.

Forbes.com suggests women business owners going through a separation in VA or elsewhere keep the following in mind: 

• What do you want to do with your business? Think about whether you’d like to do a total buyout of your husband’s portion of the business, or sell it and divide the profit, or form a trust, or transition roles or maybe just keep the status quo.
• Is the business separate or martial property? Separate property usually is that which was owned prior to the marriage, an inheritance, a gift or payment received in a personal injury judgment. All other property acquired during the marriage is usually marital property.
• Is your state an equitable distribution or a community property state? A separation in Virginia falls under equitable distribution where the length of marriage, the age and health of the parties, the income and future-earning capacity are considered when determining a settlement.
• What is the value of your business? Analyzing your business’ value throughout its existence, including since your separation, may help negotiate your position. 

With a separation in VA, women business owners owe it to themselves to consult with a Virginia Beach divorce attorney who can help them find the answers to these questions and lead them toward a just settlement.

Contacting a Virginia Beach Divorce Attorney

At this vulnerable time, it’s critical that you have exceptional legal representation that not only understands the specifics of your case, but is dedicated to your best interests and those of your family.

The Virginia Beach divorce attorneys at Hofheimer/Ferrebee represent Virginia women who wish to file for divorce. We are committed to fighting for your rights, assisting in child custody disputes, and advocating that you receive everything you are entitled to and need in order to start your new life. You can learn more by requesting one of our FREE divorce guides for women, or reserving your seat at our monthly divorce seminar – 757-425-5200.