With rapidly changing times, Rizvi Legal has noticed a need for changing the traditional spheres of legal practice.I have created a contemporary niche of the services of a Corporate Family Lawyer to address and resolve specific needs and issues of the modern-day client.
There has been a greater prevalence in all types of industries, including the legal world, of family members and friends to combine resources and create a start-up business. More individuals are turning toward entrepreneurship and, often, enter into partnerships and business models with siblings or long-standing friends.
A side effect of this arrangement occurs when one partner of the successful small business is in the midst of a separation or divorce. The marital adjustments of a partner has a direct impact on the ownership and control of the small business, partnership or corporation, as the separated couple will proceed with the division of their net family property. With the business being the greatest asset in many instances, shares of a partner are often transferred to his/her spouse to equalize their family property, resulting in an unexpected change in ownership and control of the business, which has significant implications for the future of the business and remaining partners.
This has resulted in a common phenomenon which has created a crossover between corporate legal services and family legal services. Rizvi Legal provides pre-emptive measures in the anticipation and prevention of the breakdown of a company’s vision by creating agreements to address these concerns. I encourage clients and small business owners to enter into agreements, such as Marriage Contracts and Shareholder Agreements, both of which speak specifically to the concerns of a small business owner who is engaged to be married or currently separated. This process allows the business to remain intact and in the hands of the founding owners, while providing alternative methods to the married/separated partner to resolve his marital concerns.
