For a business owner, a divorce is more than a personal crisis; it poses a direct threat to the enterprise they have spent years building. In Ontario, a business is considered property that may be subject to equalization under the Family Law Act. Determining its value and how to account for it in a net family property statement is a highly specialized area of family law that demands precision and expertise. For professionals and entrepreneurs in Ottawa, BigLawBoutique.ca offers the sophisticated legal guidance from Big Law Boutique required to safeguard your livelihood.
The process begins with a crucial step: an accurate business valuation. This is not a simple matter of looking at bank statements. Valuators consider everything from tangible assets and revenue to goodwill, market conditions, and future earning potential. The team at Big Law Boutique works closely with top-tier forensic accountants and business valuators to ensure an assessment is fair, thorough, and defensible. We understand the strategies to employ, whether the business is a professional corporation, a family-owned operation, or a startup, ensuring your interests are robustly represented.
Once a value is established, the question becomes how to address the equalization payment. The paying spouse rarely wants to liquidate the business to pay out their former partner. The innovative Boutique Team at Big Law Boutique excels at crafting creative solutions. This may involve structuring a payment plan over time, offsetting the business value against other assets in the property division (such as the family home or retirement funds), or negotiating a share transfer. Our deep resources and strategic thinking, hallmarks of The Big Law boutique advantage, are focused on finding a solution that allows the business to continue operating smoothly while ensuring a fair settlement for both parties.
Protecting your business during a divorce requires proactive and strategic counsel. The lawyers at Big Law Boutique are not just family law experts; we are strategic advisors who understand the immense value of what you’ve built. We provide the assertive advocacy and nuanced negotiation skills necessary to navigate this complex process, ensuring your professional legacy remains secure as you move forward into your new personal future.
Boutique Team 