3 Considerations to Make When Divorcing While Self-Employed

Making a decision to go through a divorce is often driven by emotions, but there are plenty of other considerations that go along with it. A divorce has significant financial ramifications many people aren’t aware of when the decision is made, but they need to understand them as much as possible. This is especially important if you’re self-employed and potentially have tight finances. Working with a New York divorce lawyer is particularly important in these situations to help reduce the financial burden as much as possible, and to also help you keep your business operating. Here are three of the top considerations to make when going through a divorce while self-employed.

Alimony Support

Alimony support is going to happen with every divorce. It’s just a matter of whether you’re going to give it or receive it. If you’re providing alimony support, every dollar given means one less dollar you get to keep, and this can add up significantly over time. The New York lawyer you select for your divorce proceeding will take your financial situation in consideration in order to ensure you still get to live a decent life and keep as much of your hard-earned money as possible. The spousal support agreement is critical, so your New York lawyer is an important component for that aspect.

Keeping Personal And Business Property

You have to also think about marital property and what you get to keep or have to part ways with. The best divorce law firms in NYC will recommend making a comprehensive list of all business property you need to keep to continue making a living as a self-employed person. You may not necessarily get to keep all of this property, but your New York divorce lawyer can use your list as a guide to help them know what to fight the hardest for.

Explore Alternative Divorce Options

While going through a divorce is costly no matter how you look at it, there are some alternatives to reduce the financial burden for both sides. And if you’re self-employed, thinking outside the box can be the difference in the lifestyle you are able to live once the divorce is finalized. Your New York lawyer can present different options to you, such as mediation, collaboration, summary dissolution and more. These alternatives aren’t for everyone, but they are worth exploring to lower the financial burden for you as much as possible.

The attorneys at Gordon & Gordon have extensive experience handling divorce cases and always represent their clients with the highest levels of integrity. We understand this is a stressful time for our clients in all aspects of their life, and we strive to make the process as simple as possible for them. We work hard every day to be the most trusted law firm in New York, so contact us today to see how we can prove it to you and represent you how you deserve to be represented.