The divorce process can give rise to a variety of disputes, most of which can be resolved with the help of family law lawyers. However, dealing with the division of business assets in an Alberta divorce could be challenging, and it is a process that likely needs the support and guidance of a lawyer who has experience in business and commercial law. A perfect example of such circumstances is the recent divorce of Jeff Bezos, the CEO of Amazon, and his wife of 25 years, MacKenzie.
Although family law in Canada typically directs the business value accumulated during the marriage to be equitably divided, disputes can arise when each spouse hires an independent person to evaluate the business and the shares formally. If those valuations differ, such matters may ultimately end up in court. Having an experienced business lawyer will be crucial as it can make a significant difference in the outcome.
If the couple manages to reach an agreement, it might involve one spouse buying out the shares of the other. The manner in which this is done could be critical for both parties, and skilled legal counsel can be invaluable. This process often involves one spouse reimbursing the other over time by paying installments. Another option is to give up other assets in exchange for the value of shares instead of giving up the shares.
None of these decisions should be regarded as insignificant. Even in smaller enterprises in Canada, the outcome of business disputes will affect the post-divorce financial stability of both spouses. An experienced business and commercial law lawyer in Alberta can provide the necessary counsel throughout these negotiations and even provide litigation support when necessary. This will leave the family law matters to be dealt with by divorce lawyers.
