If you own a business and are facing a divorce, you likely have one major question in mind: Will I be able to keep my company? For high-income professionals, entrepreneurs, and business owners in Florida, divorce is not just a personal crisis—it’s a financial and operational event with serious implications for the business you’ve worked so hard to build.
Divorce can create unexpected vulnerability for your company, especially if it’s considered marital property or has appreciated during the marriage. Valuation disputes, income attribution, and division of equity all become part of the equation. A well-managed business can suddenly become collateral in a settlement, leading to forced sales, buyouts, or loss of control.
As a Tampa high net worth divorce lawyer, I’ve represented numerous business owners—ranging from physicians with private practices to owners of multi-million-dollar family-run enterprises—through the process of divorce. This guide walks you through the essential considerations and legal strategies needed to protect your company in a Florida high-asset divorce.
Understanding Equitable Distribution in Florida
Florida is an equitable distribution state. This means that during divorce, the court divides marital assets and liabilities in a way that it deems fair—not necessarily equal. This includes:
- Real estate
- Bank and investment accounts
- Retirement plans
- Personal property
- Business interests
The court must first determine whether your business is a marital or non-marital asset. If it’s marital, it becomes part of the property to be divided. If it’s non-marital, it may be excluded from division—but not from consideration in alimony or income analysis.
A Tampa high net worth divorce lawyer will first work with you to identify the classification of your business and whether your spouse may have a claim to any portion of its value.
Is the Business a Marital Asset?
Your business may be non-marital if:
- You founded or acquired it before the marriage
- You inherited it and kept it separate
- It was excluded by a valid prenuptial or postnuptial agreement
Your business may be marital (or partially marital) if:
- It was founded or acquired during the marriage
- Marital funds were used to invest in or grow the business
- Your spouse contributed directly or indirectly to its growth
- The business increased in value due to marital labor or joint investment
Even if your spouse never set foot in your office or store, they may still have a legitimate claim if the business’s value grew during the marriage through your labor or shared resources.
Your Tampa high net worth divorce lawyer will need to carefully review corporate records, financial statements, and the timeline of your marriage to determine how much—if any—of the business is subject to equitable distribution.
Business Valuation in Divorce
Once the court determines that all or part of your business is marital property, the next step is to assign a value. This process is one of the most hotly contested aspects of high-asset divorce.
Business valuation methods include:
- Income Approach – Based on projected future earnings
- Market Approach – Based on comparable business sales
- Asset-Based Approach – Based on tangible and intangible assets
For service-based businesses (like law firms, medical practices, or consultancies), the valuation may include personal goodwill vs. enterprise goodwill. Florida courts generally treat personal goodwill (which is not transferrable) as a non-marital asset, but enterprise goodwill is subject to division.
Valuation disputes can create enormous financial swings. A difference of just 1-2x earnings in a valuation multiple can mean hundreds of thousands—or millions—of dollars. A skilled Tampa high net worth divorce lawyer will work with forensic accountants and business valuation experts to ensure an accurate and defensible value is presented in court or settlement negotiations.
How to Protect a Business Before Divorce
The best time to protect your business is before divorce is even on the table. Here are proactive steps every business owner should consider:
1. Prenuptial and Postnuptial Agreements
These contracts can classify your business (and future appreciation) as separate property, even if it grows during the marriage.
A valid prenup or postnup should:
- Clearly define the business as non-marital
- Waive or limit spousal claims to business income or growth
- Be signed voluntarily with full financial disclosure
A Tampa high net worth divorce lawyer can draft, review, or challenge these agreements as needed.
2. Keep Business Finances Separate
Avoid commingling marital funds with business accounts. Pay yourself a salary. Refrain from using marital income to cover business debt or expansion.
3. Avoid Joint Ownership or Titles
Never list your spouse as a co-owner, officer, or director unless you intend for them to have legal control or financial rights.
4. Record Contributions
If your spouse did work for the business, maintain records of whether they were compensated or what role they played. This can affect their claim during divorce.
How to Protect a Business During Divorce
If divorce is already underway, it’s not too late to act. Here’s what to do:
1. Get an Accurate Business Valuation
Hire an independent forensic accountant with experience valuing businesses in divorce. Your Tampa high net worth divorce lawyer will recommend someone who is credible and capable of testifying in court if needed.
2. Negotiate a Buyout or Offset
If your spouse is awarded a share of the business value, you may be able to buy them out using:
- Liquid assets
- Investment accounts
- Real estate
- Structured payments over time
Avoid giving equity or decision-making authority if possible. You want to maintain full operational control after the divorce.
3. Use Protective Orders
Your lawyer can request confidentiality agreements and protective orders to prevent business records or sensitive financial information from becoming part of the public court file.
4. Limit Disruption
Continue operating your business as usual. Avoid drastic changes in ownership, expenses, or distributions without legal guidance. Courts may penalize parties who devalue an asset during divorce.
Can My Spouse Take Over My Business?
It’s rare for a court to award ownership of a business to a spouse who was not involved in running it—especially when the business is service-based or requires licensing (like medical or legal practices). However, a court can award an equitable share of the value, which may lead to:
- Forced sale (in extreme cases)
- Buyout
- Award of other high-value assets in exchange
You don’t have to hand over control—but you do have to deal with your spouse’s marital interest if the business is subject to division.
A Tampa high net worth divorce lawyer will help negotiate a buyout or offset that preserves your control while satisfying your spouse’s equitable interest.
How Business Debt Is Handled
Just like business assets, business debt can be classified as marital or non-marital. If the business took on debt during the marriage—and marital income was used to service that debt—it may be considered a shared liability.
Courts evaluate:
- When the debt was incurred
- Whether it benefitted the marriage
- Whether marital funds were used to repay it
If your spouse tries to avoid liability for marital business debts, your lawyer can present evidence of joint benefit to argue for equitable sharing.
What If I Co-Own a Business With Partners?
If your business is a partnership, S-corp, or LLC with other owners, you must be careful not to jeopardize their interests during your divorce.
Important steps include:
- Reviewing your operating agreement or shareholder agreement for divorce clauses
- Ensuring partners are notified of litigation risk
- Working with counsel to prevent discovery of third-party financial records
- Negotiating buyouts that don’t disrupt business operations
Some companies include “divorce triggers” in their agreements that require an owner to sell their interest back to the company if divorce litigation begins. If your agreement lacks these provisions, a Tampa high net worth divorce lawyer can help protect the business and your co-owners from collateral damage.
Dealing With Professional Practices
Doctors, lawyers, accountants, and other licensed professionals often face unique challenges. You cannot sell or transfer ownership of your practice to a non-licensed person. But the value of the practice can still be included in equitable distribution.
Valuation may consider:
- Accounts receivable
- Office leases and equipment
- Staff contracts
- Practice goodwill
- Patient/client lists (to a limited extent)
Again, a Tampa high net worth divorce lawyer will ensure the valuation accurately separates enterprise goodwill(marital) from personal goodwill (non-marital), limiting exposure.
Alimony and Business Income
Even if your business is entirely non-marital, its income still counts when calculating alimony. Florida law considers a spouse’s ability to pay and the other spouse’s need. Courts evaluate:
- Owner draws
- Salary and bonuses
- Distributions
- Retained earnings (if available for use)
Your Tampa high net worth divorce lawyer can help structure alimony based on normalized income—not inflated one-time events or reinvested profits. If needed, we’ll hire forensic accountants to present adjusted income reports and neutralize overreaching support demands.
Protecting Trade Secrets and Confidential Information
Many business owners worry about the exposure of sensitive company data during divorce—especially if financial disclosures become public.
To protect your privacy:
- Your lawyer can seek confidentiality agreements that limit who sees business records
- Protective orders can prevent filings from becoming public record
- Sensitive exhibits can be redacted or submitted under seal
- Discovery can be limited to relevant financial metrics
A Tampa high net worth divorce lawyer knows how to preserve your privacy while complying with court discovery rules.
What Happens to Business Income After Divorce?
Once your divorce is finalized, your business remains yours—assuming you retained ownership. But be prepared for:
- Continued support obligations based on business income
- Possible post-judgment claims if income increases significantly
- Cash flow planning to meet buyout obligations
- Tax planning changes if filing status or ownership shifts
You should also update your corporate agreements, insurance policies, and estate plan to reflect your new marital status and remove your ex-spouse from any roles they previously held.
FAQ: Protecting Your Business in Florida Divorce
Can my spouse take half of my business in a Florida divorce?
Not typically. They may be entitled to a share of the value, but courts rarely order joint ownership unless both parties agree.
Is my business safe if I started it before the marriage?
It may be—but only if you kept it completely separate and didn’t use marital funds or effort to grow it. Appreciation during the marriage may still be marital.
Can I hide my business income to reduce alimony?
No. This is not only unethical—it’s likely to backfire. Courts can impute income and penalize concealment.
Should I stop paying myself a salary during the divorce?
Not without legal advice. Drastic changes in compensation can look like manipulation. Speak with your lawyer before altering income structures.
Can I sell or transfer the business before the divorce is final?
No. You should not make major changes to marital assets during divorce without court approval. Doing so can result in penalties or reversal.
How can I keep my spouse from disrupting the business?
Seek court orders that limit access and require them to refrain from interfering in business operations.
What happens to business debt in divorce?
It may be divided based on when it was incurred and how it was used. If it benefited the marriage, your spouse may share liability.
Can a prenup protect my business?
Yes. A valid prenuptial agreement can preserve ownership, future income, and appreciation—even during marriage.
Do I need a forensic accountant for my business divorce?
In most high-asset cases, yes. Forensic accountants help value the business, trace marital vs. non-marital funds, and clarify income.
How can a Tampa high net worth divorce lawyer help me protect my company?
We handle every aspect—from classification and valuation to settlement and privacy—ensuring you retain control, minimize loss, and move forward with confidence.
Your business is more than just a financial asset—it’s your livelihood, your legacy, and often the result of decades of hard work. Divorce should not jeopardize everything you’ve built.
At The McKinney Law Group, we provide focused, strategic representation for business owners, professionals, and entrepreneurs navigating high-asset divorce. If you need a Tampa high net worth divorce lawyer to protect your business during a complex separation, contact us today.
We’ll help you preserve your company, protect your financial future, and transition into the next chapter with clarity and control.
The McKinney Law Group: Tampa Divorce Lawyers Focused on Your Financial Stability
Divorce can significantly impact your financial future—especially when there are shared investments, retirement plans, or a family home involved. At The McKinney Law Group, we help Tampa clients protect their assets and plan for the next chapter with confidence.
We offer:
✔ Asset protection and division that reflect Florida’s equitable distribution laws
✔ Spousal support strategies based on income and lifestyle
✔ Support for business owners, professionals, and high earners
✔ Long-term planning to ensure financial independence post-divorce
✔ Mediation or litigation support depending on your case needs
Let us help you take control of your financial future.
Call 813-428-3400 or email [email protected] for a confidential consultation.