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the advice i’d have for an owner of a
closely held business about to go
through a divorce would probably be the
same advice i would have
for anyone going through a divorce you
play it straight the facts are the facts
you don’t play games
they’re going to be entitled to the
books and records of the closely held
business
the data is whatever it is the sales are
what they are the expenses are what they
are
you don’t want to get caught up in in a
game where you’re not being as
forthcoming as you can
don’t waste time don’t waste money
fighting discovery
if you have confidential information
that you’re worried about there’s ways
to protect you
on that front but you just lay it all
out and get to the end as quickly as
possible
in my experience the law
and and the judges they’re not out there
to hurt anyone they’re just trying to
get to a fair place
and to me
one of the best things we could do for
our clients is to try to get them to
that place
sooner than later not having them
embroiled in the litigation for two
three or four years so when i have
someone who is a title holder of a
closely held business
i i give the information
we figure out what the right value is
and then we could have an intelligent
conversation about how those uh assets
could be divided that’s where the the
fair quote-unquote fight may be
but nobody should get caught up in
discovery and unfortunately i’m going
into this level of detail because i find
a lot of people trying to play games
withhold documents the case goes on for
two years you spend a tremendous amount
of money and then you end up where you
could have ended up at the beginning
anyway
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NYC family law attorney Dan Rottenstreich shares his advice for an owner of a closely held business who is thinking about or going through a divorce.