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St. Charles divorce attorneyAny divorce can come with myriad complications that can create stress not only for those going through the legal process but also for any children and other family members involved. When there is a business involved, things can become even more stressful with many factors for the court to consider. Before discussing the business valuation in a divorce with your spouse, heading into mediation hearings, or making requests of the court, you should understand how a divorce can impact your business and how a business can impact your divorce. 

Reaching a Mutual Decision

Open communication is encouraged when two parties are seeking a divorce. If you own a business, whether it is considered marital property or not, discussing the business and its assets with your ex can mean much fewer headaches in the future. Reaching an agreement concerning who owns or runs the business as well as making other vital decisions without needing the courts to decide for you will always be the best option.

Marital Property vs. Non-Marital Property

If a mediator or the family court needs to get involved in the process of separating assets, the first thing determined is whether it is marital property or non-marital property. 

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