Orange County Business Owner Divorce Lawyer

Orange County Business Owner Divorce Attorney

Facing a divorce in California is one of the most difficult scenarios an individual can deal with in their lifetime. Emotions and tensions between the divorcing couple can run 1high, causing contention to arise. Add in the factor of the couple owning a business together, and these tensions can increase. In this situation, you need the legal support and guidance of an Orange County business owner divorce lawyer to properly navigate the proceedings.

When you choose to work with the attorneys at ​​Quinn & Dworakowski, LLP, you can rely on us to make the right decisions with your business interests in mind. We understand the unique laws that go into both owning a business and undertaking divorce proceedings. Our firm can work hard to mitigate the stress and uncertainty you may be feeling during this challenging time. With our support, you can trust us to protect your legacy.

How an Orange County Divorce Can Affect Your Business

A divorce can impact every area of your life, including your business. The ways in which your business will be affected typically depend on the state you live in. In California, the rule of community property is followed in divorces. Therefore, if you own a business and are planning a divorce, you will have to take one of two actions.

You will either have to split your business with your spouse or offer your divorcing spouse compensation equal to half the business’s worth. Before either of these actions can occur, you will need to have your business valued. This can be challenging, as some businesses, such as smaller operations, are difficult to assign value to. However, they are just as important as a larger corporation in a divorce proceeding.

When having your business valued, you will need to take into account its revenue and expenses, its overall market value, and any assets or liabilities. At Quinn & Dworakowski, LLP, our attorneys are well-versed in the practice of business valuation, so we can assist you in taking this crucial step in your California divorce.

Quinn & Dworakowski, LLP: Fighting to Protect Your Legacy

At Quinn & Dworakowski, LLP, you aren’t just another client. Our attorneys work with you closely to protect your interests throughout the divorce process. With over 30 years of experience, the attorneys at Quinn & Dworakowski, LLP, can work to protect your business interests and safeguard every other area of your life during your divorce.

The team of qualified and seasoned attorneys at our firm can use our resources to:

• Value your business.
• Assess any community or separate property as it pertains to your California business.
• Assert your rights to any intellectual property or assets held by your business.
• Negotiate the ownership of any private business involved in the divorce.

With Quinn & Dworakowski, LLP, on your side, you can rest assured that someone is looking out for you. We can protect your personal interests and the legacy you have worked so hard to build.

How to Proactively Protect Your California Business From Divorce

If you are looking for ways to protect your business in an Orange County divorce, the easiest way to do so is to have a prenuptial agreement in place. Unfortunately, these only work if they are written up and signed before you are married. If you did not create a prenup before you and your spouse were wed, however, there are still options available to you. At Quinn & Dworakowski, LLP, our attorneys can help you take certain steps to protect your business.

These measures can include the following:

• Make sure you are established as the sole owner of the business.
• Keep a thorough record of all business assets and purchases.
• Do not use marital assets to pay for any part of the business.
• Isolate business financials from your marital or personal financials.
• Keep your spouse’s involvement limited to an employee of the business rather than an owner.

FAQs About Orange County, CA Business Owner Divorce Laws

Is My Wife Entitled to Half of My Business If We Divorce in California?

In California, any business assets that are considered to be community property will be treated as marital assets in your divorce. Should your divorce case go to court for litigation, a judge will review the specific details of the divorce, including those pertaining to the business. They will then split the ownership of the business equally between the two divorcing parties if it is deemed marital property.

How Is an LLC Treated in a Divorce in California?

In California, an LLC, or a Limited Liability Company, is a type of business that allows the owners to only be liable, or responsible, for their share in the company. If an individual seeking a divorce is an owner of an LLC, either in whole or in part, they at least have a share in that business. If that share is considered marital property, it will be subject to a community property split.

How Much Do You Pay a Divorce Lawyer in California?

In California, it is difficult to know beforehand how much it may cost to hire a divorce lawyer. Several unique details of your case will influence the final cost of an attorney’s services. These can include the complexity of the divorce case, the duration of the case, and the education and location of your attorney.

When Does a Business Valuation Take Place in a California Divorce?

Typically, in California, a business valuation will take place as close to the trial date or settlement date as possible. There are a few exceptions, though, as this valuation can also take place at the time of the couple’s separation. This can happen if the spouse who is in charge of the daily operations of the business also drives most of the revenue.

Contact a Trusted Orange County Business Owner Divorce Lawyer Today

If you own a business and are seeking a divorce in Orange County, California, you need to safeguard your business assets. By hiring an attorney from Quinn & Dworakowski, LLP, you can have the skilled support of knowledgeable and experienced attorneys. Contact our offices today for more information on how we can help you.