How does division of property work when my spouse owns a business?
In the division of property during a divorce dealing with how to split a business can be one of the most complicated areas of a Florida divorce case, especially if the value of the business is the main asset of your marriage.
That said, the theory behind how a business is treated by family court judges is not different than any other asset. First, the court must determine whether the business is a marital asset. With limited exceptions, if the business was created during the marriage the value of the business will be a marital asset subject to distribution between the parties.
If the business was created before the marriage the analysis is more complex. In this case, only the enhanced value of the business that occurred due to the efforts of a spouse during the marriage would be an asset to divide upon divorce.
Oftentimes, a forensic accountant and other experts are necessary to help the court value a business and establish what portion of the business is a marital asset (in cases where the business existed before the marriage).