If you and your spouse are thinking about getting a divorce but own a family business in Tennessee, one of the major decisions you must make is how to divide the business’ value between you as part of your property settlement agreement.
What you decide to do most likely will depend on a number of factors such as the following:
- Do both of you operate the business together?
- Does one of you run it while the other keeps its books and pays its bills?
- Does one of you not participate in the business at all?
- Do neither of you run it, but have business partners and/or employees who do?