Protecting The Interests Of Divorcing Business Owners
Divorce can be a complex process, particularly if one or both spouses own a business, and even more so if they have a family or shared business. In these situations, it is vital to have on your side an experienced lawyer who understands the unique complications that business ownership can add to the divorce process.
I am John Daniels, founding partner at the law firm of Willeke & Daniels. We have offices in Minneapolis and Annandale, and serve clients in Wright County, Buffalo and across central Minnesota. With more than 35 years of experience as a high asset divorce and business law attorney, I have the skills and knowledge to tackle all manner of issues that arise when owners of small and midsize businesses get divorced.
My experience includes representing owners of medical, dental and other professional practices. Whether you or a spouse is the sole owner, has partners outside of your family, or the business is owned or operated by multiple family members, I can guide you through all of the necessary decisions related to your business and your divorce.
Divorce Representation Tailored To Your Needs
Divorce for a business owner can easily lead to a partnership dispute, especially if the spouses share ownership. Often divorcing spouses will decide to sell the business during the process to allow everyone a new start. Sometimes one spouse is “bought out” of the business and the other obtains sole ownership. Or, in the case of some private practices or small businesses, both spouses may want to remain involved, but slightly modify what their involvement will be.
In most cases, I will start by conducting a thorough business valuation to determine assets and debts. I can help you take a realistic look at the business to determine who, if anyone, will stay involved. If the business will transfer to just one party, I can help determine the cash flow and where assets need to go.