What are the risks a business owner may face in a Louisville divorce? What does the owner of a family-owned business, small business, corporate shareholder or licensed professional face during a divorce in Louisville? The central questions associated with the ownership of a business or professional practice in a Kentucky divorce are the nature of...
Could My Spouse Get Part of My Professional Practice in Our Louisville Divorce?
Could my spouse get part of my professional practice in our Louisville divorce? In many ways a professional practice is similar to a small business, but professional private practices also have some unique characteristics that can make the divorce process especially complicated. Professionals often worry that a divorce may cause the liquidation of their practice....
What Happens to Your Business During a Divorce
What happens to your business during a divorce in Louisville or anywhere in Jefferson County Kentucky? Generally speaking, the spouse who has the ownership interest in the business must buy out the marital property interest of the non-ownership spouse. When both spouses are working together sharing joint interest of the business there are three likely...