What Happens to My Family Business In Divorce?
Business Owner Divorce Laws in Wisconsin
For business owners, divorce raises complex issues. The business must be properly valued and characterized as marital or separate property. These determinations affect how the business interests will be divided. Given the complicated and often disputed nature of such determinations, achieving a fair resolution can readily become an uphill battle. We understand that you have worked hard to build up your family business. By talking with us, you can gain a better understanding of these complex issues, gain a sense of direction, and arm you with the information you need to move forward.
Experienced legal guidance is critical for Waukesha business owners facing divorce. Attorney Karyn Youso possesses the legal, business and financial acumen necessary for effectively navigating such cases. She has been an attorney and mediator in practice for over 27 years, and she’s here to help you make the best-informed decisions protecting what is important to business owners in divorce. If you are considering divorce or your spouse has mentioned wanting a divorce, talk to us about your business and your case and we can help you craft a plan to address your concerns for your business in the context of your family law dispute.
We understand the emotional and financial impact of divorce, and we offer an effective model for containing costs by delegating tasks between our family law professionals, regardless of whether you are just considering divorce or if the process has already begun.
Navigating Business and Financial Complexities
We provide professional legal guidance for clients who have ownership interests in any type of business such as:
- Sole proprietorships
- Limited liability partnerships
- Limited liability companies
- Family partnerships
Our attorneys can assist you in navigating the legal hurdles surrounding valuation, characterization, and division of business interests, including how to account for:
- Business goodwill
- Sweat equity
- Accounts receivable
- Debts and loans
- Intellectual property
- Inherited business interests
- Tax liabilities
Where appropriate, our attorneys consult with appraisers, tax advisers and other experts to ensure thoroughness and accuracy. If we do not have the current expertise or resources to answer your questions or achieve your goals, we will work with you to make sure we set you on the path to finding the professionals who can.