Divorce Lawyer Tulsa: Tips for Spouses Who Have Business Together

Divorce is barely a simple process. Now, if the couple owns a business together! That’s where it starts to be a little difficult.  

When you own a business, you pour your heart into it, just like how you do it for your first love. You end up spending counting hours and dollars to position your business. Now, adding the divorce issue can be a major nightmare.  

Here, the lives of two people are intertwined—physically, mentally and legally. Thus, the separation can be a tough job, NGL!  

The longer the couple spend time, the more they share, and the more it becomes to divide all the assets from a co-owned business.  

The marital assets, including housing and business, are divided during the divorce process. If you are from Tulsa, and you feel that the time has come to end your marriage, your priority should be to find a capable divorce lawyer Tulsa who is familiar with the local court system.  

Your goal is simple: to divide all the business assets that you have shared with your wife in a viable and profitable manner.  

A Tulsa divorce attorney can help you resolve the issues of a divorce and provide a standard solution; all you have to do is the right planning.  

The Difference Between A Separate And Marital Asset 

It is necessary for you to understand the difference between marital and separate property during the divorce process. 

If you have acquired the asset before marriage, you can call it a separate property. It is the same for your business as well. If you have started the business before marriage, then you can call it your own.  

However, once you have started the business after your marriage, it becomes a marital property. Sounds clear? Let me give you a quick and easy example. 

Suppose you have planned to buy a house before getting married. You take out the mortgage and buy it. So, it is your separate asset.  

But if you put any further money into the house once you are married, that makes the house a marital asset. 

The divorce lawyer Tulsa took a look at how the businesses were funded. They try to understand:

• Whether you made any payment after getting married or if it was before that life event.  

• Did you two make any investment in the business as a couple?  

• Did you two start the business after you got married?   

What Are The Three Major Issues During Divorce When You Own A Business As A Couple?  

The law experts talk about three major issues that often arise when you own a business with your wife as a married couple. In the following, I am going to mention the issues that usually arise:  

• The management and control over the business and operation during the divorce.  

• Fair distribution of income during the divorce process.  

• Fair business division once the divorce ends.  

The Top-Rated Divorce Lawyer Tulsa  

Are you seeking a capable divorce lawyer Tulsa who will fight for you? Here are the top-rated divorce lawyers that you can find in Tulsa, Oklahoma, who can help you secure what you truly deserve.  

So, How Much Does A Divorce Lawyer Cost In Tulsa?  

The hourly rate for the divorce lawyer Tulsa, as well as the surroundings of Oklahoma, can range from $200 per hour to around $400 per hour. As for the lawyer retainers, it may cost you from $2500 to $10000.  

How Exactly Does The Family Court Value The Business? 

Valuing a business is mainly done through different accounting methods. The divorce lawyer Tulsa primarily values the co-owned business based on arguments.  

Now, when it comes to court, they may want to look at the total assets. If the family court follows the same rule, the asset can be simply divided between you and your wife. 

On the other hand, the court may even consider your business’s yearly net profit and goodwill before valuing it.  

Things That You Should Do And You Should Not If Getting A Divorce In Tulsa And Owning A Business Together 

Divorce can be a very difficult as well as complicated process for the couple who own a business together. So, there are certain rules that you do need to follow to protect your business as well as yourself.  

Here are the do’s and dont that you have to consider:  

Always Talk To A Lawyer First!  

Regardless of the situation that you are having with your spouse, I would always suggest you to take from an experienced as well as knowledgeable lawyer first.  

Try to do research online on divorce lawyer Tulsa, and fidn the suitable one who can help you with the situation with a fair share!

READ MORE:

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• How Can You Tell If Your Lawyer Is Truly Committed To Your Case?
• Parting Ways In Mascot: Empower Your Journey With A Divorce Attorney