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in New Jersey and New York
Best Lawyers | Best Law Firms | U.S.News & world report | 2021
Richard J. Lambert was named by Best Lawyers® as a 2021 Corporate Law “Lawyer of the Year.”

Best Lawyers® is the oldest and most respected peer-review publication in the legal profession. Only one lawyer in each practice area in a given community is honored as “Lawyer of the Year.”

comprehensive legal services for businesses

Preparing to sell your business during divorce

Owning a business with your spouse in New Jersey has its own set of unique challenges if you pursue a divorce. The future of your company rests in the negotiations between you and your spouse.

If you and your spouse decide to sell the company, your preparation can facilitate decision-making and help you identify the most favorable outcome.

Ask for help

Selling a company requires a lot of forethought and careful consideration. There are many moving parts that directly affect each other. A single misstep can jeopardize your opportunity to get the maximum value for your business. Add in the pressure of divorce and a court order to sell your company and you may feel completely discombobulated.

One way to mitigate the stress and uncertainty of selling your company during divorce is to ask for help. An attorney can provide assistance with the following tasks:

  • Organizing financials
  • Identifying ownership of assets
  • Distributing profits
  • Drafting contract agreements
  • Assigning debts

Assess the market

In preparation for selling your company, you will want to watch the market and strategize the best time to make the sale. According to Market Business News, waiting for the right time to sell your company could take over a year. Having a clear picture of what you will accept for your company can help you target your advertisement to promising candidates.

Once your company sells, the courts will help determine how to split the profits. Factors including the length of your marriage, ownership rights and your level of professional involvement within the company may all influence the settlement.

Office Location

Dunn Lambert, LLC
1740 Broadway, 15th Floor
New York, NY 10019

Paramus Law Office Map

Dunn Lambert, LLC

New York Law Office Map

Phone: 551-228-2690
Fax: 201-957-0874

Best Lawyers | Best Law Firms | U.S.News & world report | 2021

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