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family business 7 300x203 - Divorce and Your Family Business Lawyer In Owings Mills

“Every small business is a family business because of the unique challenges facing the family of every entrepreneur.”

Protecting Your Business interests in Divorce

You have a thriving, successful business that was founded and built through hard work, dedication and sacrifice. When contemplating a divorce, it is essential to understand that your business is a family business. Regardless of who runs it, who nurtures it, and who is responsible for its’ daily operations, that business is a marital asset. Therefore, your spouse has certain rights to that business. Consequently, there are imminent issues that must be addressed to protect that business in the process of divorce and beyond. ZM Law Group understands the concerns that you have and the situation you are in. Our specialized experience sits at the intersection of business law and family law, which puts us in a unique  position to help small business owners like you if you need a divorce lawyer in Owings Mills, Baltimore Couny, Howard County, or anywhere else in the State of Maryland.

Family Business and Divorce

We understand that the financial stability of your family depends upon the continued success of your business. We have tried and true strategies to help businesses and their families emerge from divorce with their financial future intact. We partner with other non-legal and legal professionals in every field to provide us and our clients the guidance, tools, and expertise necessary to make the best informed decisions for your business and for your family every step of the way in the process of your divorce. Our comprehensive approach sets us apart as one of the most successful divorce law firms in the State of Maryland.

We also engage and collaborate with your business advisers and trusted professionals who are well aware of your individual business challenges and goals. These relationships are essential for us to understand the various facets of your business. This process serves to continuously identify and address past, current, and future projections regardless of where you find yourself in the divorce process.

What We Do:

It is expected that emotions and tempers during the divorce process can become very heated. Unfortunately, this can cause both spouses to act impulsively and thereby the parties may often focus on the short-term goals, at the expense of long-term success. At ZM Law Group, while understanding and anticipating the emotional fallout, we guide you to stay on course. This approach ensures that your Business remains healthy thereby securing a financial future for your Business and your family.

Through careful analysis of your business, with the partnership of specifically chosen professionals in relevant fields, we use a comprehensive approach to negotiate with your soon to be ex-spouse. As part of our analysis we identify and tackle the following questions:

  • Is leaving the business intact an option that can be negotiated with your ex-spouse while offering them a carefully customized appropriate and acceptable monetary compensation plan.
  • Is selling the business and dividing the assets accordingly in your best interest, or is it better to buy the other spouse out based upon a professional valuation?
  • Can the value of the business be figured into a larger property settlement?
  • Can the form of payment from one spouse to the other for their interest in the business be accomplished in other ways in order to ensure continued health and success of the business?

These are only a handful of questions that form the backbone of a strategy that ensures the best possible results for keeping your family and your business emotionally and financially healthy. If you have further questions for a divorce lawyer in Owings Mills, MD, then call on us today.

Frequently Asked Questions

How can a divorce impact a family-owned business in Maryland?

The impact of divorce on a family-owned business in Maryland is profound, as the business is classified as a marital asset, irrespective of the primary operator. ZM Law Group recognizes the intricate challenges inherent to entrepreneurial ventures, employing a holistic approach that seamlessly integrates family and business law. This ensures that business owners receive comprehensive guidance tailored to their unique circumstances, safeguarding both personal and professional interests throughout the divorce proceedings.

What rights does a spouse have to a family business in a divorce?

A divorce introduces complexities for family businesses, considering them marital assets subject to spousal rights. ZM Law Group places significant emphasis on the pivotal role businesses play in maintaining family financial stability. With proven strategies, the firm navigates divorces, protecting the business and securing a stable future for the family in the aftermath of divorce.

How does ZM Law Group help protect businesses during divorces?

ZM Law Group shields family businesses in divorces by collaborating with business advisers, legal experts, and professionals. The firm’s meticulous approach involves a detailed analysis of the business landscape. It explores options like negotiating for the business’s intact ownership, evaluating the feasibility of selling, and structuring compensation plans. This ensures the family business remains not only financially but also emotionally resilient throughout the divorce process and beyond.

What key considerations should business owners address in a divorce?

Business owners grappling with divorce must address pivotal considerations, including negotiating ownership terms, evaluating the prospect of selling business assets, conducting a thorough valuation, and crafting meticulous compensation plans. ZM Law Group adopts a comprehensive strategy, navigating emotional turbulence during divorce proceedings to secure the long-term success of both the family and the business.

View Areas Served

Baltimore County:

Arbutus (21227), Catonsville (21228, 21250), Cockeysville (21030, 21031, 21065), Dundalk (21222), Edgemere (21219), Essex (21221), Garrison (21055), Lansdowne (21227), Lochearn (21207), Lutherville (21093), Middle River (21220), Milford Mill (21244), Overlea (21236), Owings Mills (21117), Parkville (21234), Park Heights (21215), Pikesville (21208), Randallstown (21133), Reisterstown (21136), Rosedale (21237), Timonium (21093), Towson (21204), White Marsh (21162), Woodlawn (21207), and more.

Baltimore City

Howard County:

Clarksville (21029), Columbia (21044), Cooksville (21723), Dorsey (21075), Elkridge (21075), Ellicott City (21043), Fulton (20759), Glenelg (21737), Glenwood (21738), Granite (21163), Hanover (21076), Highland (20777), Jessup (20794), Lisbon (21765), Marriottsville (21104), North Laurel (20723), West Friendship (21794), Woodbine (21797), Woodstock (21163), and more.

Carroll County:

Eldersburg (21784), Finksburg (21048), Hampstead (21074), Manchester (21102), Marriottsville (21104), Taneytown (21787), Union Bridge (21791), Westminster (21157, 21158), Mount Airy (21771), New Windsor (21776), Sykesville (21784), Woodbine (21797), Taneytown (21787), and more.

Harford County:

Aberdeen (21001), Abingdon (21009), Bel Air (21014, 21015), Darlington (21034), Edgewood (21040), Forest Hill (21050), Jarrettsville (21084), Joppa (21085), Pylesville (21132), Whiteford (21160), White Hall (21161)

Anne Arundel County:

Annapolis (21401, 21403, 21409), Arnold (21012), Crofton (21114), Crownsville (21032), Gambrills (21054), Glen Burnie (21060, 21061), Hanover (21076), Jessup (20794), Pasadena (21122), Severn (21144), Severna Park (21146).

And the rest of Maryland.

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