What Happens To The Business After Divorce?

Florida law is unambiguous that ordering former spouses to remain in business together creates a mess of a situation. In a recent case out of Broward County, a judge ruled that both spouses got to keep 50% of the business interest. Even though family law cases are tried in a court of equity and most everything can be split in half a business is the exception rather than the rule. The appellate court found fault in this distribution because clearly if the spouses couldn’t stay married working professionally was also not going to work.

The solution in all divorce cases involving business is first to do an evaluation of the business. How much is it worth and is this value marital?

Section 61.075 of the Florida Statutes provides that in any contested divorce, the court must make specific written findings identifying, valuing, and distributing marital assets. This includes businesses. A court that fails to this is bound to get reversed in the appellate court.

In a practical sense, the job of valuing a business is done before the case goes to trial. Experienced divorce lawyers employ the services of a forensic accountant who have the expertise in analyzing the business finances and determining value. Sometimes we may even have a “battle of the experts” where the other spouse has hired their expert to determine the value. Both experts testify and present their opinion. The judge makes the ultimate ruling on the value of the business.

Once a value is determined it then goes into the marital “pot” to be divided. One spouse will keep the business, but the other spouse will receive his or her fair share.

In all cases, however, the judge cannot order that both spouses remain in business together by awarding both spouses the business.


Client Testimonials

Real People. Real Success Stories.
  • “Antonio Was Able to Resolve My Case”

    - Anonymous
  • “He Knew What to Expect and Told Me Exactly the Way Things Should Play Out”

    - Anonymous
  • “Keeps You Updated on the Progress of the Case”

    - Anonymous

Why Work With Jimenez Legal PA?

  • Focused Practice

    My practice is entirely focused on divorce and family law, and I understand the significant impact these cases can have on your future. I am dedicated to providing highly personalized and compassionate service that helps every client meet their unique goals.

  • Proven Results

    When it comes to the quality of my service, you do not need to take my word for it. Check out the testimonials and the results I have obtained for those in similar situations on my client testimonial page.

  • Dedication to Success

    With so much on the line, you can trust me not to back down when defending your rights. My experience in litigating more than 25 different jury trials and hundreds of contested court hearings is evidence of my determination to fight on your behalf.

  • Personalized Attention

    I take a personalized approach to each client's case. I am always available to answer your questions, and I make a point of providing regular, detailed updates on your case and how it is progressing. I will be the only attorney working on your case.

Schedule a Consultation

  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.