The Law Offices of Jef Henninger, Esq.
Aggressive New Jersey Attorneys
Office Locations Throughout the State

Call 855-953-3529 24/7

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Attorney Profiles

Firm Overview

 

Office Locations
*By Appointment Only


Bedminster*
90 Washington Valley Road
Bedminster, NJ 07921


Cherry Hill
1818 Old Cuthbert Rd.
Cherry Hill, NJ 08034


Clifton
1135 Clifton Avenue
Suite 11
Clifton, NJ 07013


Cranford*
20 Commerce Drive
Suite 135
Cranford, NJ 07016


East Brunswick*
197 Route 18 South
Suite 300
East Brunswick, NJ 08816


Freehold*
4400 Route 9 South
Suite 1000
Freehold, NJ 07728


Jersey City
551 Summit Avenue
Jersey City, NJ 07306


Metropark*
33 Wood Ave. South
Suite 600
Iselin, NJ 08830


Morristown*
55 Madison Avenue
Suite 400
Morristown, NJ 07960


Newark*
One Gateway Center
Suite 2600
Newark, NJ 07102


Piscataway*
30 Knightsbridge Road
Suite 525
Piscataway, NJ 08854


Princeton*
100 Overlook Center
2nd Floor
Princeton, NJ 08540


Tinton Falls
788 Shrewsbury Ave.
Suite 2209
Tinton Falls, NJ 07724 


Toms River*
230 Main Street
2nd Floor
Toms River, NJ 08753


Trenton
354 South Broad Street
Trenton, NJ 08608
  
 

 

Business Entities and Divorce

In some divorce cases, the distribution of property can be complex. The distribution can be much more complex if one or both spouses owns a business entity. In many cases, the business entity is considered marital property and is therefore subject to equitable distribution upon dissolution of the marriage. Because businesses can often produce significant income and have significant value, it is important to understand how business ownership and divorce interact.

The first step to take when going through a divorce where a business entity is at stake is to have the business valued. The value of a business is much more than simply the income it produces. The value of the business must also consider the assets and liabilities of the business, the future business potential, and the goodwill of the business. It is important to obtain a valuation of the business so as to gain a better understanding of what the business is worth as a marital asset. There are accountants and other experts that specialize in this area. However, these experts can get very expensive. Thus, you will want to weigh the cost of the expert against the potential value of the business.

Most of the time the businesses are not divided like other marital property. Instead, there are several different things that can happen with the business, such as:

The spouses may separate different aspects of the business into individual businesses with each spouse retaining one of the businesses.
One spouse may buy out the other spouse and continue to operate the business.
The spouses may continue to work together. It is possible, although rare, to remain business partners after a divorce.
The business can be sold and the proceeds will be split.
A business entity is an added wrinkle in divorce cases, but with an experienced attorney even the most complex of situations becomes manageable.

Call us anytime at: (855) 953-3529

Free initial consultation. All major credit cards accepted.