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Divorcing? What will happen to the family business?

| Aug 14, 2020 | Buying & Selling Businesses |

Individuals who own a family-based business might realize that they need to sell that company if they’re going through a divorce. The decision to do this isn’t one that’s made lightly. It often comes when one spouse realizes that they don’t have what they need to buy out the other or that the company just isn’t going to be something they can manage alone.

We understand that this is an emotional time in your life, but it’s imperative that you make decisions based on the practical matters relating to the sale. Allowing your emotions to rule your decisions now could mean that you make choices that aren’t really in your best interests.

When you come to us for help with the sale of your company, we’ll walk you through what needs to happen. For example, most people may not realize that a lot more than just focusing on a purchase price goes into the sale of the company.

You have to work with the buyer to negotiate exactly what’s being purchased. In most cases, this means having a full accounting of the company’s assets and liabilities. Not all business sales involve the purchaser assuming the liabilities of the company, so this is something that must be clearly covered in the negotiations.

Because you’re already dealing with a traumatic time in your life, you need to know that you can count on us to handle the legal matters related to the sale of the company. We’re here to make it as simple as possible, so you can focus on rebuilding your life and finding a new venture.

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