For many business owners in Philadelphia, a business is more than an asset. It is a job, a way of life, and everything you have to show for years of hard work and risk-taking. For this reason, divorce can be a frightening process for business owners. Fortunately, there are ways to both protect your business before you even consider divorce and handle it with minimal impact during divorce. At Testa & Pagnanelli, LLC, our Montgomery County business division lawyers have substantial experience representing business owners. We know how to assist in aggressively litigating business ownership interests in divorce.
For detailed information on how we can help resolve your issue, contact our office at (610) 365-4733.
Experienced Attorneys Protecting Your Business
At Testa & Pagnanelli, LLC, we know how important your business is to you. We have years of experience helping people in Philadelphia approach a business during a high-asset divorce, and we will strive to achieve a resolution that keeps your business intact and operational.
The way we resolve your business assets during your divorce will depend upon your unique situation, but, in general, there are a few common scenarios for handling a business:
- One spouse buys out the other spouse's interest in the business.
- If the divorce is amicable, you and your spouse may continue working together as business partners.
- Sell the business and split the proceeds.
How to Safeguard Your Business
While not everyone thinks of it, it is possible to protect your business long before you ever even consider divorce — and even before you get married. Some good options for protecting your business are:
- Prenuptial agreement: Creating a prenup may be the best option because prenups, if done correctly, are likely to hold up in court.
- Postnuptial agreement: While not as good as a prenup, creating a postnuptial agreement that addresses your business is better than having no protections in place.
- Modifying shareholder, partnership or buy-sell agreements: These agreements are crucial to protecting your interests and those of third-party owners who will be affected by divorce. We have substantial experience drafting such agreements and in drafting transactional documents in connection with the transfer and/or sale of business interests.
Contact Our Firm Today
At Testa & Pagnanelli, LLC, our Montgomery County business division lawyers will work closely by your side to create a strong strategy for your case. We will aggressively advocate for your best interests in and out of the courtroom.
Devoted to Our Clients & Their Families
I highly recommend Maria TestaAlyssa H.
If you need a family law lawyer look no further! Maria is who you need!Trina M.
Testa & Pagnanelli Law is reliable, professional, and a good value law firm!Former Client
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Our firm will work to help you reach the next chapter quickly, efficiently, and without wasting your time and resources.
Focused Exclusively on Family Law
Don't leave the most important part of your life to chance, our team is highly experienced and solely focused on handling family law matters.
Well-Respected in the Legal CommunityOur attorneys have an impeccable reputation within the legal community and are highly regarded in their field.
Over 75 Years of Collective ExperienceBetween our attorneys, we have over 75 years of collective experience in ensuring your legal rights are advocated for.