Santa Barbara Business Owner Divorce Lawyer

​Choose Drury Pullen Law

​At Drury Pullen Law, we have provided California residents with compassionate, effective divorce services for years. We understand Santa Barbara divorces are especially complex when business ownership is involved. Our experienced lawyers leverage courtroom experience, legal knowledge, and negotiation skills to protect your future.

​California Divorce Laws and How They Impact Your Business in a Divorce

​In the United States, it’s estimated that 40% of current marriages will end in divorce. With such a high rate of divorce across the country, it’s imperative that you understand your rights and legal options if a divorce occurs in your life.

​In Santa Barbara, spouses who divorce must adhere to the state’s community property rules. This can make dividing businesses or interests difficult, as California’s laws generally demand a fair 50/50 split whenever possible. It’s important to keep in mind the varying laws that can impact your Santa Barbara business during a divorce and consult a lawyer who can protect your rights as you navigate your split. The following are laws and legal classifications you should consider:

• Community Property Laws. In Santa Barbara, community property is considered any property, debt, assets, or interests that were collected together by a spouse while they were legally married. Community property must be split 50/50 if a divorce occurs in Santa Barbara, making it crucial that you have a lawyer on your side who can fight to ensure you receive what you’re rightfully owed.
• Separate Property Classifications. Separate property in Santa Barbara can include any assets, gifts, inheritances, or business interests that you or your spouse collected before you were married. It’s imperative that you and your lawyer identify all separate property when you’re going through a divorce that involves a business to ensure the assets you own are not subject to division.
• Comingling. Comingling is a legal term that refers to when marital property and separate property in Santa Barbara become jointly owned or are used by both spouses. For example, if one spouse puts some of their inheritance into a joint account with their partner, it may be more difficult for them to try to take the money out if a divorce occurs, as it will likely be considered commingled.

Factors That Impact Divorce Division in Santa Barbara

If you and your partner cannot agree on how to divide your business or assets during your divorce, a family judge from your local Santa Barbara court will have the ultimate decision. To ensure a fair case, our divorce attorneys and a family judge will look at the following factors:

• Contributions to the Business. When deciding how to split a business in a divorce, a judge will consider the financial, physical, social, or intellectual contributions each spouse made that helped the business form, operate, and grow. Contributions could also be classified as anything that helped to keep the business running. From loans taken out in one party’s name to childcare or support in the form of extra labor.
• Value of the Business. Courts will look at not only the gross and net income, but also the value of the business to the patrons and the community. To adequately assess the value of a business in Santa Barbara, our lawyers can look at your average earnings, your customer base, your assets, and the value of comparable businesses.
• Reputation of the Business. The reputation of a business is defined as its goodwill, or its history of being credible and/or transparent when faced with challenges, financial or otherwise. If your business has a strong reputation that you had a hand in creating, this alone will impact how the business is split.

Hire a Business Owner Divorce Lawyer in Santa Barbara

​The idea of potentially losing your business and all of the time, energy, and money you spent creating it can be terrifying. While divorce laws in Santa Barbara may seem complex, working with an experienced business owner divorce lawyer from our firm ensures that your rights, interests, and future are advocated for. At Drury Pullen Law, we fight tirelessly to protect the businesses that our clients have dedicated their lives to creating.

​FAQs​

Q: How Much Does a Business Owner Divorce Lawyer Cost in Santa Barbara?

A: If you’re considering hiring a business owner divorce lawyer in Santa Barbara, it’s important to keep in mind that the unique details of your case will impact the total you pay. For example, the length of your case, your lawyer’s experience, whether your case requires litigation, and whether your divorce is contentious can all impact how much you have to pay. You should ask all pricing questions during your initial consultation.​

Q: How Are Businesses Divided in a Santa Barbara Divorce?

A: Like other marital assets, a business that is considered community property in Santa Barbara must be split as evenly as possible, or 50/50. However, because businesses can’t realistically be split in half, the court will likely split interests between spouses or give one spouse the business and the other spouse enough assets to equate to the business. To ensure your interests are advocated for during negotiations and trials, you should hire a divorce attorney.​

Q: When Should You Hire a Business Owner Divorce Attorney in Santa Barbara?

A: As soon as you file for divorce or receive papers in Santa Barbara, you should hire an experienced business owner divorce attorney who can begin protecting your rights and assessing your legal options. When businesses are involved in divorces, it’s crucial that you have legal counsel on your side who can ensure all information is disclosed, valuations are fair, and that your rights to your business are protected.​

Q: When Is a Business Considered Separate Property in Santa Barbara?

A: There are some instances where a business may actually be separate property in a divorce, even if one spouse believes they may have rights to it. Generally speaking, if one spouse created the business before their marriage and owned it on their own, this business is likely separate property. However, commingling may impact your business’s classification. It’s important that you talk to a lawyer to identify whether your business is considered separate or communal.​

Your Devoted Business Owner Divorce Lawyers​

No divorce is easy, but when your business is on the line, proceedings can become complicated quickly. Contact Drury Pullen Law today to learn more about how we can advocate for your interests and fight for your future during a Santa Barbara divorce.