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When you own a business together, working through the buyouts and offsets in a Bellevue business divorce could be difficult, and you need a strategy to handle it.
When a business is involved, and you are going through a divorce, you need to know what the risks are. When dividing the assets, will you purchase your spouse’s share of the business, or will they buy out yours?
At Twyford Law Office, we know that your business is not only your livelihood, but also a large part of who you are as a person. With more than 40 years of experience handling high-asset divorces, including those involving businesses, we take a holistic approach. We help our clients navigate complex negotiations to protect their interests.
A buyout in a Bellevue business divorce happens when one spouse purchases the other’s share of the business to keep full ownership. A calculation of the business’s value must occur before a buyout may happen, which can be challenging.
The value of the buyout depends on several factors. These factors include the current market value of the business, its future earning potential, and any debts that the business may have. Calculating the value of the business allows both parties to move forward with the buyout and ensure that you have a full understanding of its worth and your interest prior to the finalization of dissolution.
A buyout may be the best option if one spouse is heavily involved in the business and wants to continue operating it without the other’s involvement. Once a buyout is agreed upon, parties must also agree on how the payout will happen. For example, paying out a large sum upfront may be good for one party, but it could put a financial strain on the business. Other payment arrangements, such as structured payouts over time, may be necessary.
An offset in a Bellevue business divorce lets you trade one asset for another instead of paying money for the buyout of the business. For example, if a share of the business is an entitlement for one spouse, instead of buying that spouse out, they might give them more from the retirement account or equity from the home rather than a monetary transaction.
This approach could be a great solution for several reasons. For instance, if one party wants to keep their business but does not have the cash flow for a buyout, it could be a suitable alternative. It could also be beneficial if one party values other assets, such as a home or a car, more than having a share in the business. It could also be a good idea if both parties want to break all ties after the divorce.
Buyouts and offsets in a Bellevue business divorce are some of the most complex family law matters. You need an attorney who understands the financial risks. At Twyford Law Office, our approach is personalized, strategic, and always focused on securing the best possible outcome for our clients and a settlement that works for your future.
If you are facing a business divorce, do not wait until you are deep in the process to start thinking about buyouts and offsets. Contact us today, and let us get a strategy in place to protect your financial future.
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