For many Florida business owners, the end of the marriage entails numerous financial decisions, not all of which are directly related to the union itself. Unless specific provisions were laid out in a prenuptial agreement, business assets will become part of the property division process. An important consideration during the early stages of negotiations involves comprehensive understanding of the tax ramifications associated with various options.
For example, many spouses make the mistake of taking a narrow focus of an expansive topic. For example, arguing over who will retain the family home is a common scenario. For business owners, it may make more sense to cede interest in the family home in exchange for a greater share of business assets.