Protecting Your Buisness
Divorce is challenging, but for business owners, it can feel even more overwhelming. You’ve poured your time, energy, and heart into building your business—it’s not just a source of income; it’s your passion, your hard work, your legacy. Now, facing a divorce, you might wonder, Will my business be okay? Will I still have control over what I’ve built?
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At Moisant Law Firm, we get it. We understand how deeply personal this journey is for you. With Samantha Moisant, an experienced divorce attorney in Metairie, by your side, you’ll have someone who truly cares about protecting what you’ve worked so hard to create. Together, we’ll look at all your options, ease the uncertainty, and find a path forward that secures both your business and your peace of mind. Let us help you through this with the dedication and respect you deserve.
How Are Businesses Divided in a Louisiana Divorce?
Louisiana is a community property state, which means that any assets acquired during the marriage are generally considered jointly owned. If your business was started or acquired during the marriage, your spouse may be entitled to a share, even if they weren’t actively involved in running it. Moisant Law Firm is here to guide you through this process, ensuring you have a knowledgeable Metairie divorce attorney by your side to protect your business assets.
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Here’s how your business may be impacted:
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Valuation of the Business: Before any division can take place, we’ll need a proper valuation. Our legal team collaborates with financial experts to assess the business's worth accurately, taking into account assets, debts, income, and future earnings potential.
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Distinguishing Separate vs. Community Property: If you owned the business before the marriage, it may be classified as separate property. However, any increase in the business's value during the marriage may still be considered community property. We’ll work closely with you to identify which portions of the business may remain separate.
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Methods of Dividing a Business: When division is required, several options may be available. Our Metairie divorce attorney can help negotiate a fair solution, such as a buyout, co-ownership arrangement, or trading other assets to retain full ownership.
Options to Protect Your Business in Divorce
With our Metairie family law attorney on your side, we’ll explore all available options to protect your business. These may include:
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Buyouts: In some cases, buying out your spouse’s interest in the business can allow you to retain full control without sacrificing business operations.
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Trading Assets: You may have the option to trade other marital assets (like property or savings) in exchange for retaining sole ownership of the business.
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Spousal Agreements: Prenuptial or postnuptial agreements can help safeguard your business assets, even if they weren’t established before the marriage. Moisant Law Firm can help enforce or draft these agreements to meet your unique needs.
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FAQs about Businesses in Divorce in Louisiana
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Can I keep my business if I owned it before the marriage?
Yes, if the business was owned before marriage, it may be considered separate property. However, any increase in value during the marriage might be subject to division.
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What if my spouse never contributed to the business?
Even if your spouse wasn’t involved in daily operations, community property laws might still entitle them to a share of the business value gained during the marriage.
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How can I protect my business if my spouse didn’t sign a prenup or postnup?
Even without a prenup or postnup, there are strategies to protect your business. Proper financial documentation, clear separation of business and personal finances, and other measures can help clarify the business's value and ownership.
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What if my spouse worked in the business—does that affect their claim?
Yes, a spouse’s involvement in the business can impact their claim to it. If they were actively engaged in operations, management, or finances, they might have a stronger argument for an interest in the business.
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What if I co-own the business with other partners?
If you have business partners, your spouse’s interest might be limited, depending on the partnership agreement and the terms of ownership.
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What if my spouse helped finance the business?
If your spouse contributed financially, they may have a legitimate claim to part of the business value. We can help clarify contributions, both financial and otherwise, and negotiate a fair approach to protect your investment.
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Can I keep my spouse from claiming part of my business?
Prenuptial or postnuptial agreements are effective ways to protect business interests, and we recommend discussing options with our attorney.
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How can an attorney help protect my business?
A skilled attorney can advocate for a fair valuation, help negotiate a buyout, and, when possible, work to classify your business as separate property.
Contact Moisant Law Firm
If you’re navigating a divorce and want to protect your business, Moisant Law Firm is here for you. Contact us today to schedule a consultation with an experienced Metairie divorce attorney who will prioritize your business and financial future.
At Moisant Law Firm, we proudly serve clients throughout Metairie, Jefferson Parish, St. Charles Parish, St. Tammany Parish, and the surrounding areas. Let us help you secure your business assets with confidence
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Call us at 504-317-1685 or fill out our online contact form.
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