Clement Law Center - Federal Way Family Law Attorney
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Our office is open. At Clement Law Center, the safety and wellbeing of our clients and employees come first. In response to COVID-19, court hearings and all conferences with client and prospective clients will be by phone. We are not conducting in-person court hearings or meetings. Our staff will often be working remotely during this time. Our office will be checking voicemail and will return client calls as soon as possible. We continue to offer free phone consultations.
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What’s the best way to protect a business during divorce?

If you’re getting a divorce and you also own a business, you’re probably concerned about how assets will be distributed. Fortunately, there are certain steps Washington business owners can take to ensure their enterprise is safeguarded, both before and during a marriage. Inc. explains a few of these options and how they can benefit you.  

Premarital agreements

The best protection for your business is to have a premarital agreement in place before you get married. A premarital agreement states which assets you own going into a marriage and can even include a clause that states your spouse has waived any rights to the enterprise. While many people shy away from making premarital agreements, they are a must for entrepreneurs.

 Minimize your spouse’s involvement

In the event you started your business after you were already married, you’ll need to take a different approach. First and foremost, make sure your business’s finances are kept separate from personal finances. Also, try to limit your spouse’s involvement in daily operations. If he or she can show involvement on the management level, or even just regular assistance, there is a greater chance that a court will consider the business marital property.

Value your business correctly

In some cases, the court may determine that the proceeds of your business must be split. This requires a valuation of your business, which is how much it’s worth. There are different approaches you can take towards the valuation. For instance, the market valuation is how much the business would command on the open market if it were sold. This number is usually much higher than the book value, which is tallies up the business’s actual worth. Your attorney can explain the best method for valuing your particular business. 

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Federal Way Office
31919 1st Avenue South, Suite 103
Federal Way, WA 98003

Toll Free:888-351-6779
Phone: 253-336-3607
Fax: 253-815-8458
Federal Way Office Location

Seattle Office
3418 NE 65th St., Suite A
Seattle, WA 98115

Toll Free: 888-351-6779
Phone: 253-336-3607
Fax: 253-815-8458
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14777 NE 40th Street, Suite 206
Bellevue, WA 98007

Toll Free: 888-351-6779
Phone: 253-336-3607
Fax: 253-815-8458
Bellevue Office Location
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