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Call us at: (505) 881-2566
2727 San Pedro NE • Suite 114 • Albuquerque, NM 87110

What happens to a family business during and after divorce?

Mary Ann R. Burmester’s Answer

The easiest and least expensive way to address this issue is for the spouses to agree on who will keep the business and to give the other spouse property of comparable value. However, if both spouses want to keep the business and force the other spouse out, then the judge has to decide which spouse is better able to continue to run the business in a way to maximize the benefit to the entire post-divorce family – in other words, generate the most income for child and/or spousal support and provide a legacy for the children. If it isn’t clear that one spouse is better able to run the company than the other, the judge has the power to order the business sold and net proceeds allocated between the spouses. This is usually the least desirable outcome because now neither spouse has a job.

If you both want to keep the business and you agree to continue to run it together post-divorce, you can do this. The law does not require only one of you to keep it. A good operating agreement and buy-sell agreement will be essential to avoid future problems in how the business is run, what happens if one or both of you remarries, dies, or becomes disabled.

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I appreciate everything Mary Ann and her team have done for my children, and myself, which entailed so much. Everyone’s support was wonderful, and so needed, during such a brutal, emotional, and heartbreaking time.   M.F.
2017-03-31T16:04:38+00:00
I appreciate everything Mary Ann and her team have done for my children, and myself, which entailed so much. Everyone’s support was wonderful, and so needed, during such a brutal, emotional, and heartbreaking time.   M.F.

I just wanted to take a moment to thank you for your representation. I can’t tell you how confident and comfortable I felt having you represent me and the peace of mind that brought was worth more than I could...
2017-03-31T16:22:11+00:00
I just wanted to take a moment to thank you for your representation. I can’t tell you how confident and comfortable I felt having you represent me and the peace of mind that brought was worth more than I could have imagined.  I never once felt that you were working without my best interests in mind and contrary to my ex-husband’s experience, the expenses incurred were reasonable and fair, and I believe you were diligent about not incurring additional costs unless they were absolutely necessary.   A.N.

The day I walked into your office I did not believe that my life would take such a toil on my life, the fact and promise you made that you would never leave my side at any point even when...
2017-04-03T10:55:47+00:00
The day I walked into your office I did not believe that my life would take such a toil on my life, the fact and promise you made that you would never leave my side at any point even when I just couldn’t find the strength to open emails because it was so painful to read has defined a new beginning for me.  I am back in NM and I will never look back thinking that he got the best of me, because you kept your promise to me and because I am doing it; I am living life again!D.A. D.A.

Going through a divorce is an agonizing process, the emotional distress was overwhelming at times and the financial implications only exacerbated my anxiety. On top of that I had to hire a lawyer and hope that they would be professional,...
2017-04-03T10:56:15+00:00
Going through a divorce is an agonizing process, the emotional distress was overwhelming at times and the financial implications only exacerbated my anxiety. On top of that I had to hire a lawyer and hope that they would be professional, reliable and honest. I found that at NM Divorce & Custody and can’t express how fortunate I felt to have had Mary Ann Burmester’s representation in what I thought was going to be a quick divorce. Mary Ann is sharp, knowledgeable and honest. She gave me recommendations that I felt comfortable in taking and I never felt her representation didn’t have my best interests in mind. Mary Ann was an excellent advocate when my husband’s lawyer was requesting things from me that were completely unnecessary and had no purpose other than escalating expenses. She and her team were on top of things from day one, leaving me no doubt I’d made the right choice. I’d recommend them to absolutely anyone. A.B.

I want to give NM Custody & Divorce LLC a HUGE THANK YOU, for your professionalism, but most of all your patience and kindness. My experience with your firm was amazing start to finish, in such a difficult time in...
2017-04-03T10:56:42+00:00
I want to give NM Custody & Divorce LLC a HUGE THANK YOU, for your professionalism, but most of all your patience and kindness. My experience with your firm was amazing start to finish, in such a difficult time in my life, your team made me feel supported not just legally but with your concern. Ms. Burmester is an amazing women and attorney her and your firm have my highest recommendation!!   C.S.