San Jose Business Owner Divorce Lawyer

Divorce is a challenging process, no matter what the circumstances involved. While some cases may become complex due to issues such as child custody or spousal support, other cases can face contention when the divorcing couple owns a business together. This can make a divorce much more complicated and emotionally challenging, and it is wise to hire a San Jose business owner divorce lawyer who can help you navigate the difficult legal landscape often involved.

The division of property in a California marriage dissolution is a confusing area of divorce law. This confusion only grows when the couple owns a business. At the Law Offices of Rod Firoozye, we assist our clients in figuring out how to correctly handle their business situation during the course of a San Jose divorce. It is vital to know how your business will be viewed through a legal framework and if that business will be subject to community property laws.

Elements of a San Jose Business Owner Divorce

When facing a divorce in San Jose, California, where a business is involved, there are several elements that you will want to review in order to better understand how this business will be treated in the course of your legal divorce proceedings and how it may be divided between you and your divorcing spouse. These elements can include the following:

• History of the business. One of the very first elements you will need to consider in a business ownership divorce is the history of your business. If the business was started and gained a profit before the marriage was established, there is a good chance it will not be considered community property by the courts but rather separate property and, therefore, not subject to California community property laws.

However, if the business is registered and has contracts that exist in the names of both spouses or was started during the course of the marriage by both parties, then both spouses can lay a claim to some level of ownership, and it will most likely face a property division under the community property laws of California, meaning that, as shared property, it is subject to an even split between the divorcing parties.

• Involvement of spouses. Another element regarding how the business will be viewed in a divorce is the level of involvement both spouses had in the business. For example, if a spouse worked for the business, held a specific title, owned a set of personal business cards, or was on the payroll, then these things will play into their favor for having a claim in the business during property division.

However, in cases where a spouse did not play a consistent role in the company but still did things that allowed for the business to grow, such as taking on other responsibilities so you could focus on the growth of the business, they may be able to argue for some right to that company. This is why it can be so vital to have clear documentation regarding your spouse’s role and involvement in the company.

• Valuation. In cases of a business owner divorce, having the business valued will be a vital step in knowing how it will be divided. It is important to understand that a judge may only see the valuation as the first step in a property division situation. They may also decide a buy-out is required. If so, then the future profit from the business will need to be taken into consideration.

This can mean that the spouse who is being bought out from the company can make a claim for a share of these profits.

The Law Offices of Rod Firoozye: Protecting Your Interests in a Business Owner Divorce

When you work with the team at the Law Offices of Rod Firoozye, you aren’t just another face or client who walks through our doors. Our team is dedicated to providing you with the most proactive protection during the course of your property division and overall divorce case. With nearly 30 years of experience, we are here to safeguard your interests in your business and work toward a case outcome that benefits you. We can do this through the following actions:

• Assigning a value to your business.
• Assessing any separate or community forms of property as they refer to your business.
• Upholding your rights to any assets or intellectual property that is currently held by the business.
• Working to negotiate the ownership of the business involved in the divorce case.

Legal Options for Dividing as Business in Divorce

There are several tactics you may be able to use when dividing a business in a divorce. These can include a co-ownership arrangement, a buy-out, where only one party can buy the other party out of their ownership of the company, and a scenario in which the couple sells their shares in the company to another party of ownership altogether.

Speak to a Trusted Divorce Lawyer Today

If you own a business in San Jose, California, and are facing divorce, you may be feeling uncertain regarding the options available to you. At the Law Offices of Rod Firoozye, we understand that these are difficult times and hope to help you protect your interests in the intestines of your business. Contact our offices today for more information and to schedule an initial consultation.