In episode #145 of Women Winning Divorce, host Heather Quick—owner and attorney at Florida Women's Law Group, talks with Bree Sullivan Howell, an accomplished author and family law attorney practicing in Thomasville, Georgia. With three insightful books, Bree shares her personal experiences and professional insights into divorce and how to navigate it while owning and protecting a business.
Divorce and Business: Complexities Unveiled
Owning a business can significantly complicate the divorce process. Heather and Bree discuss how income calculation for self-employed individuals is often complex. Bree breaks down that determining the true value of business income requires meticulous examination of gross revenues, necessary expenses, and sometimes the external help of an expert like a forensic accountant, business appraiser, evaluator, or other expert, depending on your situation. The intricacies do not end there. The division of a business as a marital asset shouldn’t be done without the expertise of seasoned attorneys.
Heather and Bree stress the importance of planning in advance, such as drafting prenuptial or postnuptial agreements. These legal documents can safeguard a business by clearly defining ownership and interest terms, mitigating future disputes.
Understanding the Legal Nuances
The conversation also sheds light on differing state laws, such as the difference between community property and equitable distribution. Each state is different, so it's important to consult an attorney in your state about your specific situation. Here in Jacksonville, FL, we are here to consult.
Valuing and Dividing a Business
Valuing and dividing a business in a divorce requires strategic planning and precise legal navigation. Hiring qualified experts like appraisers, CPAs, forensic accountants, and legal representatives can be imperative to your divorce outcome and the future of your business. These specialists analyze records, assess financial standings, and provide crucial documentation/evidence that could define the extent of property division. Heather and Bree highlight the critical role of these professionals in ensuring fair assessments, especially when facing complex financial structures and potential attempts at financial deception during divorce proceedings.
Empowerment Through Resilience
Bree's experience has shown that women possess a remarkable resilience fostered through support networks. These connections form a foundation of strength, allowing them to confidently navigate the challenges of divorce. Embracing this collective resilience can turn adversity into an opportunity for rebuilding and renewal.
Post-Separation Abuse: A Hidden Challenge
In Bree’s book Crush Your Divorce, she discusses the often-overlooked issue of post-separation abuse. This type of abuse can intensify after separation, as the abuser might exploit legal processes to further torment their spouse. Whether through financial manipulation or prolonged legal battles, understanding and addressing post-separation abuse is crucial for safeguarding your emotional and financial well-being.
Conclusion
This enlightening discussion with Bree Sullivan Howell offers invaluable insights into the intricate dynamics of divorce and business ownership. By understanding the legal nuances and preparing for the journey ahead, women can protect their interests and emerge stronger on the other side.
For more insights and resources from Bree Sullivan Howell, visit her websites at Sullivan-firm.com and crushyourdivorce.com.
If you are considering divorce and need guidance or legal support in the Northeast Florida are, call us at 904-900-2419 or schedule a call here! Our team of experienced attorneys is dedicated to advocating for women's rights and best interests. Take the first step towards a brighter future for you and your family today.
