One of the most frightening things business owners hear from their spouses is, “I want a divorce.” Even business owners who also desire a divorce often avoid such an action because they fear losing the business they worked so hard to build. A business divorce may indeed put your company at risk. However, there are several actions you can take to help you avoid the loss of your business should divorce enter the picture.
A prenuptial agreement: This tool helps you keep your business intact if divorce occurs. A well-drafted prenup can also protect your other property during your divorce.
A postnuptial agreement: If it is too late for a prenup, consider having a family law attorney help you draft a postnuptial agreement. The main difference between these two documents is that postnup agreements go into effect after the couple is married.
Rely on legal counsel: The two methods discussed above are excellent preventative measures. However, in many Atlanta divorces, it is too little too late. If this is the case for you, consider talking with your attorney about other ways to protect your financial interests during the divorce. In many cases, the two of you can create alternate strategies that can preserve your business while ensuring that your spouse also receives fair treatment.
Our website offers residents in the area additional information about complex divorces. If you would like to learn more, we invite you to keep reading our pages. We also encourage you to reach out to our staff for personalized guidance on how to handle a business divorce.