Asset Division During Divorce: Does My Spouse Get Half of My Business?
The latest data shows that in 2020 alone, there were about 630,000 divorces conducted across the US. Although this number shows a decrease in divorce rates from previous years, divorce is still necessary for many couples — and there's no doubt that it can be a very stressful experience. The distribution of assets, otherwise known as Equitable Distribution in New York, is one of the most difficult aspects of any divorce settlement. As such, there's often confusion regarding the division of business assets, and many are left wondering, 'is my spouse entitled to half my business? Before venturing into equitable distribution, you must familiarize...
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