Pilka & Associates, P.A.
Review Us

Call for a Consultation:863-236-9321

Main Menu

Protecting family businesses from divorce

A family business can be a substantial personal asset, especially if its value has increased overtime. Florida residents who co-own a business with their partner or spouse should know about what they can do before and during a marriage to protect the it if a divorce occurs.

A prenuptial agreement is one legal tool that some unwed couples can use to plan for the future and specify what should happen with the family business if they get divorced. It is recommended that if one is being considered that it be negotiated and signed well in advance of the wedding date. This could help to forestall a subsequent challenge by one of the parties that it was signed under duress.

Soon-to-be married couples may instead want to opt for a buy-sell agreement to protect their business. Business co-owners can use the contract to determine what steps should be taken if one of the co-owners leaves the business of their own free will or by force or if one dies. The agreement can stipulate that in the event of a divorce, the former spouse who receives any business interest in the settlement will be required to sell it back to the other co-owner at a price determined by an agreed-upon appraisal method.

Even when there is no business to worry about, property division is often a contentious part of divorce proceedings. As Florida follows the principle of equitable distribution, the court will divide marital property in a manner that it deems to be fair. This does not necessarily mean equally, however, and the result may not be satisfactory to either party. Accordingly, couples may want to have the help of their respective attorneys when attempting to negotiate a settlement agreement.

No Comments

Leave a comment
Comment Information

Initial Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Our Locations

Pilka & Associates, P.A.
213 Providence Road
Brandon, FL 33511

Phone: 863-236-9321
Fax: 813-651-0710
Brandon Law Office Map

Lakeland Office
256 North Kentucky Avenue
Lakeland, FL 33801

Phone: 863-236-9321
Lakeland Law Office Map

Phone Numbers

Local Number 863-236-9321

Local Number 863-687-0780

Fax Number 813-651-0710

  • Proud to Support our Troops
  • bbb accredited business
  • a plus
  • The Greater Riverview | Chamber of commerce
  • LakeLand | Area Chamber of Commerce
  • Naela | National Academy of Elder Law Attorneys, Inc.
  • BNI
  • brandon chamber of commerce