Helping Small Business Owners And Farmers Address Divorce Concerns

For entrepreneurs, small-business owners and family farmers, the divorce process can be significantly more complex when accounting for property, assets and debts that are connected to the business. At Tuzinski & Zick, L.L.C., we are attorneys equipped with the skill and experience necessary to handle business and farm-related divorce matters.

The lawyer you choose can make a significant difference when faced with a complex divorce. While there are plenty of lawyers and firms out there who can resolve a simple divorce, our analytical skill and firsthand knowledge of handling farm and small-business cases sets us apart.

Our Business Is Helping You Resolve Your Divorce

The business practices that go into running a farm are often very different from the standard operations of a small business — a salon or restaurant, for example. In many cases, a farm, whether it is crop-based or livestock, requires a considerable amount of overhead to operate between the periods of payment (harvest). When purchasing seed, equipment and feed for livestock, many farmers carry substantial debt by taking out operating loans throughout much of the season. Once the farmer sells the crops or livestock, the payout will come through. As it pertains to divorce and property division, this payment, and when it is received, could significantly affect the amount of assets being divided.

In addition to finances, land is another important consideration. Whether a farmer rents land, or if it is family-owned, it is important for an attorney to know how to determine whether the land is a marital or nonmarital asset.

When dividing a business during divorce, we help clients assess a variety of issues including:

  • Is marital money being used to finance the business?
  • Valuating the business and comparing estimates
  • Determining expenses for conducting business
  • Addressing unethical business dealings that could impact the divorce proceedings
  • Discovering any hidden assets or co-mingled funds that influence support or other matters associated with property division

Intelligent And Creative Solutions That Can Preserve Your Business

For small-business owners and farmers in Minnesota, the processes of a normal divorce don't always apply. When dividing assets and property, it can be burdensome and extremely difficult to sell off acreage, equipment or other property without causing financial hardships that could result in bankruptcy or a significant decrease in earning potential.

By working alongside you throughout the divorce and the property division process, we can help you structure solutions that preserve your farm or business. Whether making payments gradually over time to renting out farmland rather than selling it off, there are numerous options that we can explain as we help you move forward.

Representing business owners and farmers throughout Minnesota and in the northwest suburbs, including Brooklyn Park, we are a firm committed to helping our clients reach sustainable solutions that plan for the future. Call us at 763-515-8046 to discuss your case. You can also reach us via email.