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Palestra Financial
1904 Duck Slough Blvd
Trinity, FL 34655
Phone: (844) WHY-PLAN™
Website: www.PalestraFinancial.com
Spouses who own a business together know the challenges of mixing their personal and professional lives. But what happens if the time comes when one partner wants something different? Here are a few options to consider when divorce, the desire to pursue a different occupation, or loss of interest in the business affects your business partnership.
One issue with a buyout may be the difficulty of one spouse coming up with cash or other liquid assets to buy the other spouse’s share. Dividing other marital assets equal to part of the business’s value or agreeing on installment payments in place of a lump sum are possible options. Keep in mind that a future sale of the company could have tax consequences for the spouse who retains the business.
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Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Palestra Financial and JWC/JWCA are unaffiliated entities.
Palestra Financial and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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