As a business owner or spouse of a business owner going through a divorce, your biggest question is likely, ‘What will happen to my business if I get a divorce?’ The answer to this question can be complex, as dividing business interests in a divorce will depend on several factors. It takes comprehensive and diligent work to accurately determine business ownership interests for possible division in a divorce. Our Fort Collins divorce attorneys have experience valuing and dividing business interests in a divorce and can recommend qualified business valuation experts within our trusted referral network when they are needed.
Common business interests addressed in a Fort Collins and Greeley divorce include:
Limited Liability Company / LLC;
S Corporations / s-corp;
Partnership, including: doctors, attorneys, CPA's, and more;
Closely held family owned businesses;
Common industries in Fort Collins and Greeley divorce include:
Food, including: restaurants, fast food and grocery;
How Business Interests are divided in Colorado Divorces:
Our Fort Collins divorce attorneys have experience with valuing and dividing business interests when business owners divorce.
First, the business interest, or ownership, needs to be identified. Most business are organized as a partnership or LLC, but can also be classified as DBA. The way in which a business is classified may impact any form of division arising from a divorce.
Second, it is important to determine whether this business interest of the business owner going through a divorce is a marital interest, premarital, or separate interest. If the business was owned prior to the marriage then it should be considered as separate property when dividing the business interest in a divorce in Colorado.
any increase or decrease in value during the marriage
value of any property owned by the business
debts owed by the business or other liabilities
revenues of the business
does the business provide a service or product
how long the business has been operating
any operating agreements
any partnership agreements which could include restraints on transferring or selling the business interest
whether and how the business could be marketed for sale
Ensuring any retained experts are properly licensed is critical; licensing requirements for Colorado real estate appraisers can be found by clicking this link to the Department of Regulatory Agencies here , and other professional licenses can be confirmed valid in Colorado here.
These are just some of the factors to consider when valuing a business ownership interest when a business owner divorces.
Finally, the equitable division of business interest, along with all of the other marital property needs to be determined. This equitable division will be influenced by many factors, such as who contributed to the acquisition of the business interest, potentially the nature of the participation of parties in the business, as well as the economic circumstances of the parties. High net worth individuals often have multiple business interests to divide when divorcing, and may also face high income child support.
Same Day Free Consultation Available
Fill our brief contact form to schedule a time to speak with one of our Fort Collins divorce attorneys at the Cossitt Law Firm today and learn more about dividing business interests when divorcing and how to protect your financial interests.
COVID-19 numbers are on the rise, and so is promising talk of an effective vaccine. If you’re a parent of a young child, you are concerned for the best interest of your child, and access to the vaccine is likely something that you are thinking about. If you are divorced or otherwise co-parenting, you are […]
A skilled high conflict child custody attorney can manage and reduce conflict and stress when establishing or modifying parenting time and decision making. High conflict custody can include claims of alienation and child endangerment, disputes over the regular parenting time, vacation and holiday parenting time, communications, and much more. When conflict is high the children […]
Parental alienation harms children, in the short term and in the long run. Parental alienation can be a difficult issue to address with the courts. In parental alienation cases each parent may be classified as the Rejected or Disfavored parent while the other may be referred to as the Favored Parent. Understanding parental alienation requires […]
Divorce is a stressful event. The threat of violence not only increases this stress, but also puts at risk the people involved. If the threat of violence already exists in a marriage, there is a high likelihood that a divorce will trigger that violence; if the marriage has seen no violence, the additional stress of […]
Fort Collins Divorce & Child Support Attorneys
Tom Cossitt, Esq.
Suzanne Ewy, Esq.
Carla Jaquess, Esq.
Jenna Hardesty, Paralegal
"I am very appreciative of Toms services. English is a second language to me, and this process seemed difficult because of that barrier. He was very patient and thorough making sure I understood everything before he proceeded. I will recommend him to everyone! He truly cares about you, as does his wonderful, helpful team"
Abigail Review from AVVO
"I had a very challenging case, one that could have had indefinite financial consequences. Tom Cossitt evaluated my case and identified several strategies for moving forward. I chose one and Tom developed and implemented that strategy with speed and with the utmost in professionalism. The documents he drafted on my behalf, based on extensive research and case law / precedent were thorough and comprehensive. When the Court ruled, it used the arguments as developed by Tom Cossitt verbatim in its decision, and the case was decided in my favor. Needless to say, I was pleased beyond words. Based on my experience and the outcome of my case, I would highly recommend Tom Cossitt to anyone requiring the services of a family law attorney."
Dan Review from Google
"I met with as many as 10 different attorneys before coming across Thomas. After our initial consultation, I was very pleased with his knowledge and realistic expectations. During the really tough time, Thomas kept me calm and helped tremendously to get custody of my daughter. He kept me informed on what was going on and would ask for my input; if it was something that was unrealistic or could be done a different way, Thomas would tell me right away. During the hearings, he was amazing. He kept a professional attitude and was great at cross examinations. He took in all of the facts and evidence, and was able to present them efficiently and effectively. Ultimately helping me gain custody of my child."
Mitchell Review from AVVO
The Cossitt Difference: Fort Collins Divorce Attorneys That Care
Schedule a Consultation with one of our Fort Collins Family Law Attorneys