Dividing a Family Business in a Boca Raton Divorce

For many South Florida families, the business is more than an asset. It is a paycheck, a reputation, and years of long nights. When a marriage ends, it can also be the hardest item to divide, because a company cannot be split in half like a savings account. Here is how Florida courts approach it.

Is the Business Marital Property?

It depends on when and how the business came to be. Under section 61.075(6)(a)1.a., assets acquired during the marriage are generally marital, and section 61.075(8) presumes that anything acquired after the wedding is marital unless a spouse proves otherwise. A business started before the marriage is usually nonmarital under section 61.075(6)(b)1. However, section 61.075(6)(a)1.b. treats growth in a nonmarital asset as marital when it results from either spouse’s efforts or from marital funds. A spouse who never touched the books may still have a claim to the increase in value.

How Florida Values a Closely Held Business

Florida updated its approach in 2024. Section 61.075(6)(a)1.f. sets the standard of value for a closely held business at fair market value, meaning the price a willing buyer and willing seller would agree on when neither is forced to act. The statute also says that goodwill separate from the owner’s continued presence and reputation is “enterprise goodwill,” which is a marital asset the court must value. A possible non-compete on a future sale does not, by itself, rule out enterprise goodwill. Because these questions get technical fast, many couples bring in a neutral valuation expert.

Ways a Business Can Be Divided

Courts begin with the premise that marital assets should be divided equally, then may adjust under section 61.075(1) for factors such as each spouse’s contributions and the desirability of keeping a business intact. Common outcomes include:

• A buyout: One spouse keeps the company and pays the other for their marital share.
• An offset: The owner keeps the business while the other spouse receives a larger share of other assets, such as home equity or retirement accounts.
• A sale: The business is sold and the proceeds are divided.
• Payments over time: Section 61.075(10) lets a court order a lump sum or installments, with security and interest where appropriate.

Protect the Value While the Case Is Pending

Two details deserve attention. The court weighs intentional waste of marital assets within two years before the petition or after it is filed, under section 61.075(1)(i). And the date used to classify marital assets is set by section 61.075(7), usually the filing date or an earlier separation agreement. Keep clean financial records, avoid unusual transfers, and keep the company running as normal.

Before You Sign Anything

If a business sits at the center of your divorce, the decisions made early can shape your finances for years. Our Boca Raton family attorneys at WiseLieberman, PLLC work with owners and non-owner spouses alike. Before you hand over financial records or agree to a number, let’s talk it through. Call us at 561-488-7788 and we will map out a plan for your situation.

Source:

flsenate.gov/Laws/Statutes/2025/61.075