In most cases, business and divorce do not make good bedfellows. The founder of the business is usually afraid of losing everything he or she has worked so hard to build. By contrast, the other spouse may worry about not getting a fair share of the business profits. All of this fear and concern has the unfortunate effect of overcomplicating divorces that involve business owners.
It may surprise you to learn that many of the concerns Florida spouses have about a business divorce are unfounded. Abandoning any assumptions you have about the outcome of your split can clear your mind and allow you to focus on what is truly at stake. We are pleased to offer you two tips to help you achieve this goal.
Defining your role: Regardless of your role in the company, you are likely entitled to a share of the business assets. For example, if you never held a position in the company, you probably supported your spouse’s business efforts emotionally or financially. Work with an attorney to define the role you played in helping the business thrive. The court will take this into account during property division.
Choosing your approach: In most scenarios, a business divorce proceeds in one of two ways. The first way involves taking an aggressive or even combative approach to gaining a fair share of the business. The second way involves a cooperative approach. Choosing to be cooperative typically yields the best results. Your spouse probably shares your concerns about the outcome and this could mean he or she is more open to cooperation than you may believe.
Your attorney can provide you with additional advice about how to proceed with a business divorce. We also invite you to continue reading our web pages if you want more information.