Protecting Business in Divorce

Asset Protection for Business Owners in Northeast Ohio

At the Biviano Law Firm, we guide professionals and business owners in business asset division in divorce. We also assist owners of interests in businesses by protecting these interests. We frequently work with litigation support specialists, business valuation experts, and other professionals to protect clients' business interests in divorce.

Contact us online or call 330.392.5000 to speak to a lawyer in Warren, Ohio.

Separate and Marital Property

Ohio has certain laws and statutes that describe and qualify whole or fractional interests in a business or professional practice as either separate property or marital property. In general:

• Separate property is an asset owned prior to the marriage, inherited during the marriage, gifted to a party during the marriage, or property specifically excluded by a premarital agreement. Exact tracing of the identity and flow of the passing of such business assets must be proven to be protected.
• Marital property generally is all property in existence at the time of the divorce filing that is not proven to be separate property.

The Division of Professional Practices

Property division in divorce can become complicated when a professional practice is subject to division. If you are the owner of a medical, law, accounting, or other professional practice, we will help to determine the value of your business now and at the date of marriage by consulting business valuation experts.

Financial Considerations in a Divorce

Under Ohio law, when a marriage is terminated by divorce or dissolution, all of the assets acquired during the marriage must be assigned a value by the court and divided equitably between the parties. This includes small businesses such as closely held corporations, family businesses, and medical, accounting, and legal practices. Attorney Bill Biviano has over 34 years of experience in asset protection matters, helping hundreds throughout northeast Ohio.

Find out more about:

• Business valuation
• Financial misconduct
• Tax implications of a divorce

Contact Us

For more information about asset protection in complex property division, contact an Ohio divorce attorney with experience in business valuation law.

Biviano Law Firm
700 Huntington Bank Tower
108 Main Avenue S.W.
Warren, OH 44481-1089
Phone: 330.392.5000 - Fax: 330.393.0008
Since 1974
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