How can you keep your business safe during divorce?  

On Behalf of | Jan 13, 2025 | Family Law |

As a business owner in Alexandria, your company stands as your life’s work and primary income source. Divorce can put this at risk, but there are straightforward ways to protect what you’ve built while still following Virginia law.  

What makes up your business assets?  

When you divorce in Virginia, the court looks at all business value gained during marriage as shared property. This rule applies even if only one spouse runs the company. Your business assets include:  

  • Your brand name and market reputation
  • Business secrets and patents
  • Client base and ongoing contracts
  • Growth potential
  • Tools and stock
  • Business property

Innovative steps to shield your business  

Taking action early can help save your business during divorce. Here’s what you need to do:  

  • Keep all business and personal money separate
  • Write down what you owned before marriage
  • Get a licensed expert to state your business worth
  • Think about paying your spouse to keep full ownership
  • Look at trading other assets to keep your business

These steps work best when you immediately start them and stick to your plan.  

Your lawyer should know both Virginia family law and business matters. They can help you show the actual worth of your company and find ways to settle that work for both sides.  

The courts in Virginia want to be fair to both spouses without harming the business. With good records and expert help, you can often find ways to keep your business running strong through your divorce.  

Each business faces different challenges during a divorce. What helps one owner might not help another. Getting help from a lawyer who knows Virginia divorce rules gives you the best shot at keeping your business whole.