For over 30 years, founding attorney Patrick Cordero has helped thousands of clients through some of the most troubling times of their lives. Located in Coral Gables, Florida, The Law Offices of Patrick L. Cordero, PA focuses on bankruptcy, foreclosure, real estate, financial and family law.
Financial considerations regarding a business, especially when intertwined with a divorce, can pose unique and nuanced challenges when it comes to dividing assets between spouses. Given the vast interdisciplinary experience of the team at The Law Offices of Patrick L. Cordero, their firm is well-positioned to help clients through what is often a stressful and difficult time in their lives.
As part of their continued effort to educate clients and the public, the law firm recently published a guide regarding some of the lesser-known facts about dividing business assets during a divorce. The full guide can be found on their official website.
Dividing Assets During a Divorce
With a passion for helping individuals in need, Cordero has dedicated his life and profession to fighting for the rights of his clients. He and his firm fight vigorously on behalf of his clients, ensuring they have the legal tools and representation needed to help them overcome any legal challenge.
According to Cordero, when any couple goes through a divorce, both liabilities and assets are split between each party by way of a process known as “equitable distribution” of assets.
This process involves a court:
- Placing a value on the property
- Classifying property as either separate or marital
At the culmination of this process, the property is distributed between the parties as the court deems fit. Some kinds of properties are simple and straightforward to divide and distribute, while others are much more complicated, such as a business.
Dividing Business Assets During a Divorce
Spousal ownership in a business is a common, yet complex issue to deal with during a divorce. The Law Offices of Patrick L. Cordero is highly experienced in handling such situations, offering a number of solutions including:
- Buy-Out – when one spouse purchase the other spouse’s interest in the business
- Co-Ownership – agreement to jointly own and operate the business post-divorce
- Sell – business is sold and each spouse compensated accordingly based on their respective interest in the business.
Surprising Facts About Dividing Business Assets During a Divorce
In their newly released publication, The Law Offices of Patrick L. Cordero covers a number of lesser-known, yet highly important facts regarding business division during a divorce.
Issues and Topics Covered Include:
- Dividing stock options
- Stock option valuation methods and limitations
- The challenge of splitting business assets
- and more…
The Law Offices of Patrick L. Cordero
The Law Offices of Patrick Cordero is Florida’s largest consumer bankruptcy filing firm, having helped thousands of clients among the Miami and surrounding communities struggling with financial, real estate and family legal issues. From bankruptcy to foreclosure, divorce, and debt relief, the 50 plus member team at The Law Offices of Patrick Cordero can help.
Reach out today via the contact information below or directly by way of their website for assistance today.
Company Name: The Law Offices of Patrick L. Cordero, PA
Contact Person: Tomas Gallows
Email: Send Email
Phone: (305) 445-4855
Address:7333 Coral Way
Country: United States