Divorce Lawyer for Business Owners in Ottawa

While a divorce processis hard, it is even more so when you are a business owner. This is because, apart from regular issues like parenting time, child support, spousal support, and property division, you also have to worry about the impact of divorce on your business and whether you will lose a sizable part of your assets.

An experienced high-asset divorce lawyer for business owners in Ottawa could look into these problems and provide you with possible solutions or pathways that will secure your business interests and ensure your doors stay open after the marriage dissolution. Contact us anytime at The Riley Divorce & Family Law Firm to discuss your high-asset divorce case, as we are available to help 24 hours a day.

What Are Common Problems That Arise for a Business Owner During Divorce?

With high assets on the line, several issues can arise if you, as a business owner, or your spouse files for a dissolution of marriage. These include:

• Determining if the business is separate or marital property
• The business is part of the assets to be considered for division
• The possibility that your business may have to stop operations
• Expensive professional valuations to either increase or decrease the market value of your business

These common issues are why you need help from experienced divorce lawyers in Ottawa who have helped founders and CEOs navigate similar situations. The team at The Riley Divorce & Family Law Firm could help with these bottlenecks and provide solutions that minimize the impact of the divorce on the business.

Key Considerations for Business Owners facing Divorce Proceedings

During a divorce, any business owned by a spouse is considered part of the family assets. This means that it is subject to division unless you have the right protections in place. Some vital documents and information that could help you include

• Prenup agreements
• Postnuptial contracts
• Significant tax liabilities
• The date of your marriage
• Buy-sell clauses in shareholder agreements

Another important component that may impact your business is whether it is co-owned by your spouse. While no law mandates that a business has to be divided between ex-spouses during a divorce, the reality is that this often poses serious challenges, particularly if one spouse is intent on liquidating their share of the business. This is where a dedicated divorce lawyer could play a crucial role for business owners in Ottawa. Our team could help you figure out valuable moats or instruments that protect your business and keep it running.

How Your Net Worth and Reputation Could Be Protected

If news of your divorce filters out into the public, it can do serious damage to both your business and your reputation. Because privacy and discretion are of utmost importance, you may want to explore discreet divorce settlement options to protect you as a business owner, which our dedicated lawyers could assist you with. These options include:

• Mediation
• Separation agreements
• Out-of-court settlements
• Collaborative divorce proceedings

The seasoned divorce lawyers from our firm have the experience to provide useful legal guidance regarding the best option for you and your soon-to-be-ex spouse.

Seek Legal Help From a Divorce Lawyer in Ottawa as a Business Owner

Successful business owners stand to lose a lot more if they are involved in a divorce case. This is why you need to speak with The Riley Divorce & Family Law Firm’s experienced divorce lawyers for business owners in Ottawa if you want to protect your business, maintain your professional reputation, and have a fully operational business after the divorce proceedings have ended. Contact us today to discuss your legal options.