Business Owner Divorce in Georgia, How Your Company Impacts Support, Property, and Custody

Divorcing as a business owner adds layers of complexity. In Georgia, your business may be considered marital property if it was started or grew during the marriage, even if your spouse wasn’t directly involved.
The court will determine whether the business is marital or separate property. If it is marital, the next step is to value the business, which often requires expert financial analysis. This valuation can affect how assets are divided and whether one spouse is entitled to a buyout.

When calculating child support or alimony, courts must consider business income, which may not always be straightforward. Business owners may have fluctuating income or blurred lines between personal and business expenses.

Your role as a business owner may also affect custody, especially if your schedule is demanding, involves travel, or lacks flexibility. The court will look at your ability to maintain a consistent parenting routine.

To protect your interests, make sure you gather detailed financial records, including tax returns, balance sheets, and profit and loss statements. Prenuptial or postnuptial agreements can also play a role in determining what portion of the business is subject to division.

If you’re a business owner facing divorce, preparation is key. Work with a legal team that understands both family law and the financial intricacies of business ownership.

Schedule a consultation with South Atlanta Family Law by calling 404-494-0027 or visiting www.southatlantafamilylaw.com. We’ll help you protect what you’ve built and move forward with clarity.

Posted in Divorce, South Atlanta Family Law Service | No Comments »