Naples Business Owners Divorce Lawyer

Naples Business Owners Divorce Attorney

As a business owner in Naples, Florida, you have spent years building a thriving company and have poured your heart and soul into its creation and longevity. Whether you own and operate a clothing boutique on Fifth Avenue South or run a successful real estate firm in Pelican Bay, in a divorce, your financial future could be placed at risk. Being a business owner and facing divorce is a tricky and complex situation, and a Naples business owner’s divorce attorney can prove vital.

The attorneys at Shemkus Family Law, P.A. know how to fight for their clients’ rights, including in divorce cases that involve an owned business. Whether you hope to hold onto your business or obtain the stake you deserve, we are here to protect your rights.

Understanding Property Division in a Naples Divorce

Florida currently has a divorce rate of 3.1 divorces per 1,000 residents. In a divorce case, the couple will need to reach an agreement on how to divide their marital property. This can be any form or item of property that was obtained or gained value during the marriage.

Florida is an equitable distribution state, meaning that when the couple is unable to agree to a division of property on their own, they will need to look to the courts to do so for them. The courts will distribute these assets in a manner they deem fair and equitable, though not necessarily 50/50. Based on several factors, the courts will determine how this split will take place, including how a business will be handled. These factors include:

• The financial contribution of each spouse during the marriage
• The duration of the marriage itself
• Each of the spouses’ contributions to the marriage through the care of children and/or homemaking
• The current economic status of each spouse
• Any interruption of a spouse’s career or education to care for the home or children
• If either spouse has taken any kind of action since filing for divorce to purposefully waste certain shared assets

During a Naples divorce property division, all marital assets will be subject to equitable distribution, including the family home, vehicles, and any business interests. When a couple co-owns a business, the courts will most likely consider that property to be marital.

There are three ways a business can be divided in a Naples divorce, including situations in which one spouse buys out the stakes of another, the business is sold and the proceeds from that sale are divided, or the business continues to be co-owned after the divorce but one spouse stays as the majority owner operating the business and the other maintains a minority stake.

In most cases, a marital business will need to be valued. This process can be complicated, and additional professionals may need to be involved, such as a property appraiser or financial professional. Shemkus Family Law, P.A. maintains a comprehensive network of the best professionals in town to handle such business valuations. Valuing a Naples business will require information such as:

• The overall revenue of the business
• The market value of the business
• The tangible and intangible assets owned by the business
• Any debts or liabilities tied to the business

How to Protect Your Business Interests in a Divorce

During a Naples divorce, there are several ways you may be able to protect your business, and the team at Shemkus Family Law, P.A. can help. These preservation methods include:

• Implementing a marital agreement. Before or during your marriage, you may be able to establish a prenuptial or postnuptial agreement that names you as the sole owner of the business and ensures that the business remains your separate property.
• Avoiding the use of any marital funds. In cases where you must use joint funds to further the business operations, it can be important to create a loan agreement and implement a strategy that allows your business to repay your marital accounts.

FAQs

Q: How Can a Business Owner’s Divorce Attorney Help Me in Florida?

A: In Naples, when a couple divorces and owns a business together, the legal support of an attorney can be crucial. These cases are often extremely contentious, and an attorney can help limit conflict and seek a smoother and more efficient settlement. Your attorney can likewise provide you with the necessary legal advice tailored to your case and seek the most favorable outcome available while protecting your rights.

Q: What Is the Average Cost of a Divorce Attorney in Naples?

A: It can prove difficult to offer an exact number for the average cost of a divorce attorney in Naples. This is due to the fact that there are several variables at play in these cases that can impact your attorney’s final cost analysis. These variables can include the complexity and duration of your case and the experience level of your attorney.

Q: What Are Some Considerations a Business Owner Should Make Prior to Divorce?

A: In Naples, Florida, there are over 2,500 businesses and employment firms. When the owners of these businesses find themselves facing divorce, there are several things they should take into consideration, including how much their business is actually worth. Or, how much income does the business generate? What is the value of their spouse’s contribution to the business?

Q: What If Only One Spouse Is the Legal Owner of a Business?

A: In cases where one spouse is the only legal owner of a business, their spouse could try to claim an equitable stake if the business was acquired during the marriage or if efforts or contributions made by either spouse during the marriage enhanced the value of that business.

Speak with a Trusted Naples Divorce Attorney Today

If you are a business owner in Naples, Florida, and are facing a divorce, the attorneys at Shemkus Family Law, P.A. are here to help. Contact our offices today for a consultation, and let us help you.