What Happens if My Spouse Owns a Business and We’re Getting Divorced in Georgia?

Author : Jeanette Soltys

Dividing assets during divorce is rarely simple, and when one spouse owns a business, things get even more complex. If you’re divorcing in Georgia and your spouse runs a profitable business, you need to know your rights and take the right steps to protect your financial future.

While it might be tempting to handle the divorce yourself, a business interest is not something to address through a DIY approach. Here’s what you need to know.

Is the Business Considered a Marital Asset?

Not every business is subject to division in a divorce. The first step is to determine whether the business is classified as a marital asset under Georgia law. Key factors include:

• When the business was started (before or during the marriage)

• Whether marital funds or joint efforts were used to grow the business

• If both spouses contributed to the business in any way

If the business was created or significantly expanded during the marriage, there’s a strong chance it qualifies as a marital asset—even if only one spouse’s name is on it.

Does the Business Have Value?

Just because your spouse owns a business doesn’t mean it’s worth a significant amount on paper. However, if the business is profitable and could potentially be sold for a profit, it likely has value that should be accounted for in your divorce settlement.

To figure that out, you may need:

• A financial review by a qualified professional

• Access to business records like profit and loss statements, balance sheets, and tax returns

• A formal business valuation conducted by a forensic accountant, especially if the value is disputed or unclear

What Happens If Your Spouse Keeps the Business?

If the business is a marital asset and your spouse is keeping it, you may be entitled to a share of its value. That doesn’t mean you’ll co-own the business moving forward—instead, your share of the value is typically offset by a financial payment or other asset.

This process usually involves:

• Determining the total value of the business

• Agreeing on your portion of that value

• Deciding how and when that amount will be paid to you

Without a proper valuation and legal agreement, you risk walking away from substantial value you’re legally entitled to.

Final Thoughts: Don’t Overlook the Business

Divorce is emotional, and it’s easy to get overwhelmed by the process. But if your spouse owns a business, you need to treat it like any other significant asset. A mistake here could cost you more than you realize.

Need Help Evaluating a Business in Your Divorce?

If you’re going through a divorce in Georgia and your spouse owns a business, we can help you understand what you’re entitled to and how to protect your financial future.

Schedule a discovery call to discuss how to handle business assets fairly and thoroughly.