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If a family business is part of your divorce, understanding how its value is handled is crucial. This discussion covers how Michigan courts determine what portion of a business is a marital asset and the methods used for fair distribution.

• A business started during the marriage is considered a marital asset that must be divided. • For a business owned before the marriage, the increase in its value during the marriage can be a marital asset. • Courts typically will not force the sale of a family business but will have its value professionally appraised. • A non-owner spouse's share is often paid out by offsetting it with other marital property, like the house or cars. • If the business has lost value, there is no asset to divide, and no cash distribution will be made from it.

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For additional information, watch these videos: What Happens To a Business In a Divorce? - https://www.youtube.com/watch?v=YKmGbmNuHmA How to Handle Divorce as a Business Owner? - https://www.youtube.com/watch?v=TIIoAfqUfxo

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