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Dealing with a divorce after creating a start-up company

When Georgia couples decide to end their marriage, it can be difficult to decide how marital assets will be divided. However, for those who become lucky with their startups, going through the divorce process can be even more difficult due to the amount of money and business assets that may be at stake.

Because Georgia is an equitable distribution state, a court will endeavor to divide marital assets in a fair manner. When it comes to startups that are successful, dividing up the assets is a relatively simple process in theory. However, it is considerably more difficult if the company does not yet have a monetary value.

For those who have considerable assets before marriage, getting a prenuptial agreement to protect their property is a must. For some people who are trying to start up new companies and do not have assets when considering marriage, prenuptial agreements are often not considered to be important. As a result, however, some couples may feel trapped in their marriage as getting a divorce could diminish their net worth especially if both partners worked together to build the company.

Those who are going through a high asset divorce may be aware of just how much they stand to potentially lose, especially if the majority of their assets were acquired after the marriage. Further, if a person had assets that were acquired prior to the marriage but increased in value during the marriage, that appreciation could be subject to division. The advice and counsel of a family law attorney can be important during this stage.

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Hecht Family Law
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