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On behalf of Tasha K. Schaffner of Schaffner Family Law posted in divorce on Tuesday, May 9, 2017.

You more than likely spent a great deal of time, money and effort growing your business into something you are proud of and is successful. Now that you face a divorce, you may be concerned that your soon-to-be former spouse may receive a portion of your business, which could potentially jeopardize the futures of you and your business. A Kentucky attorney can help you protect your interests when it comes to your business.

It may take a village to raise a child, but it could also take a village to protect your business interests. Your attorney may rely on forensic accountants, appraisers and other parties to gather the evidence to meet your needs. Your business has many moving parts, and the right individual should closely and carefully examine each one of those parts.

For example, a determination needs to be made regarding whether the assets of your business are marital or non-marital. A valuation date needs to be determined. Different valuation methods exist, and choosing the right one to use could have a significant impact on the value ultimately given your business. Once these steps are complete, a strategy to keep your business intact during the property division phase of your divorce needs to be made.

As you can see, protecting your business in a divorce is a complex process that requires the knowledge of many individuals. Attempting to handle the intricacies of property division alone could jeopardize the future of your business. It would more than likely be to your benefit to involve a Kentucky attorney in this process to help ensure the survival and continued success of your business.

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