Clement Law Center - Federal Way Family Law Attorney
Free Initial Consultation
253-336-3607
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.
We offer a 25% discount to First Responders and Health Care Workers
bg-banner-blog
Quality Representation & Individualized Advocacy You Can Depend On

Dividing a business in a divorce

When people in Washington decide to divorce, the situation can become more complex when a family business is involved. Divorce can involve an array of emotional, practical and financial considerations, and in most cases, a fair distribution of family assets is a goal. However, it can be particularly challenging to reach an agreement when both spouses are part of a business, especially as Washington is a community property state. In order to divide a company as part of a divorce, each spouse will need to decide how they want to be involved with the firm moving forward. Decisions can be made using this as a basis.

One of the most important steps to dealing with a family business in a divorce is establishing a clear valuation for the company. People may not be aware of the true market financial value of the venture and may tend to overvalue or undervalue its worth. By hiring an independent appraiser, the couple can establish a value that allows them to negotiate how the business will be handled. In some cases, one spouse will keep the business by essentially buying out the other party by conceding a larger share of other property.

In other cases, both spouses are committed to remaining business partners even after their romantic relationship is over. This is best for couples with a more amicable connection who are able to put their business interests first. In still other cases, both spouses sell the business and divide the proceeds as part of the divorce.

Business owners can face unique challenges when they decide to end their marriages. By working with a family law attorney, a divorcing spouse can aim to achieve a fair resolution on a range of issues in addition to property division.

Start Your Free Consultation

Our Office Locations

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
Seattle Office Location

Bellevue Office
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
FindLaw Network