In many New York divorces, one or both spouses will hold ownership of a business or will be a primary shareholder, director, managing member of partner. It, however, is important to realize that not every businesses is the same. For example, there are several different ways in which a business can be started which will ultimately impact the way that it is split.

Similarly, the different type of business itself will determine the type of assets that will be available to be divided – no matter whether this refers to a tangible or an intangible asset. For example, office furniture and solid pieces of property will have a concrete value. On the other hand, something such as a stellar reputation throughout the community, while it might not have a set value, could be infinitely more valuable in the long run for something such as a medical office.

Other factors, such as any debt that was accumulated and is currently owed, will need to be taken into consideration to ensure that the resulting outcome is both fair and equitable. This will also determine who receives the payments first. For instance, a creditor will typically be the first to receive the funds. Following this, investors will be next in line. After them, partners will then be able to receive anything that is left over.