If you plan on filing for divorce, call our divorce attorney in grand rapids mi as soon as possible and consider our tips below.

Fire Your Spouse
It may sound brutal, but firing your spouse reduces their claim on your company. If you have time before you know you’ll be filing for divorce, ease them out of the business as soon as possible. The more involved your spouse is in the business, the more likely their attorney will argue their client deserves a cut of the profits. A judge might agree.

Keep Family And Business Finances Separate
Keep your family and company finances separate. For example, don’t dip into the household account you share with your spouse to invest in new company equipment. Otherwise, it’ll be easy for your ex-spouse to argue that they have a claim to your business. Our top divorce lawyers grand rapids mi can help you prove your business didn’t touch shared family accounts.

Give Yourself A Fair Salary
Your ex-spouse may be entitled to the company’s assets if you withheld money from your household to grow the business. You can easily avoid this situation by paying yourself a good salary.

Get An Appraisal From A Neutral Outside Party
Don’t agree to an appraisal until it’s been reviewed by a neutral outside party. If your company is marital property, its appraised value will affect how much you have to pay your ex-spouse for their share.

Give Up Other Assets
In the state of Michigan, marital assets have to be valued and divided properly. If you don’t want to relinquish control of your business, we may recommend giving up other assets in its place. For example, you may choose to give up the house in exchange for keeping 100% ownership of the business.