Business and Divorce Attorney in New York, New York

What advice do you have for the owner of a closely held business who going through a divorce?

More In This Category

View Transcript

my advice to any small business owner or

professional practice owner

if they’re anticipating divorce

or they’re in the middle of a divorce

is to keep the status quo particularly

if they are the bread winner

the problem arises where suspicion

works against the business owner

because they control the assets and are

able to move them around in a way that

the non-title spouse is otherwise able

to move them around so

my best advice is always to keep the

status quo don’t move money

to bank accounts that are unknown don’t

change your practices

don’t suddenly cause the business to

lose its value or to run up a whole

bunch of debt unless of course there are

circumstances outside of the divorce

that can genuinely show that that would

have occurred regardless of whether or

not the divorce was going to occur or

was being contemplated you want to keep

everything status quo and if you do make

any changes that you notify your

attorney

so that they can notify the other side

in the court so everybody is fully aware

transparency is key

NY family law attorney Ken Jewell shares his advice for an owner of a closely held business who’s going through a divorce.

More Videos From This Lawyer