{"id":351735,"date":"2018-11-28T15:31:56","date_gmt":"2018-11-28T20:31:56","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/family\/divorce\/divorce-and-business-ownership.html"},"modified":"2023-07-11T07:54:08","modified_gmt":"2023-07-11T12:54:08","slug":"divorce-and-business-ownership","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/family\/divorce\/divorce-and-business-ownership.html","title":{"rendered":"Divorce and Business Ownership"},"content":{"rendered":"\n
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Divorce and Business Ownership<\/h1>\n
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\n By Jade Chounlamountry, Esq.<\/a> | Legally reviewed by Melissa Bender, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

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Key Takeaways<\/h2>\n

Courts routinely divide assets in divorces based on state divorce laws.  The division of a business depends largely on who owns the business and whether or not the business is marital property.  If the parties do not reach an agreement regarding the division of assets, the court will divide assets in accordance with state law. <\/p>\n\n <\/div>\n <\/div>\n<\/div>\n

 You are probably wondering, "What happens to my business in the divorce?" By understanding marital assets and how they get divided in a divorce case, you can plan for the future of your small business.<\/p>\r\n

Defining Marital Property and Separate Property<\/h2>\r\n

Whether your business is subject to property division depends on what kind of property it is. Generally, a divorce has three types of property:<\/p>\r\n