During a divorce that involves a business, it's important that you have the business valued. By obtaining the valuation, you'll know how much the business is worth and how you'd like to negotiate to keep it or to allow your spouse to keep it in full.
You owned your business long before you were married, and you want to remain in charge like you've always been. At no time during your marriage did your spouse play a role in your business, so you don't believe they should benefit from it.
During your divorce, you may need to divide your business. If you and your spouse are both taking an active role in the business, it might not be as simple as buying one party out, either.
You own your own business and you've worked hard to build it from the bottom up. The last thing you want is for the end of your marriage to damage or destroy the enterprise you've created. However, is it even possible to stop that from happening? It is -- but only if you plan ahead.
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.
You ran your business alone while you were married, but now that you're going through a divorce, you're worried that your spouse will try to reap the benefits of what you sowed. Of course, in the past, you never believed that your spouse would try to take what you worked so hard for, but with the animosity they've shown you recently, you're scared that they'll do anything they can to ruin you.
You may have heard that Amazon's founder and chief executive officer (CEO) is going through a divorce. He's been married to his wife for 25 years, and he's estimated to be worth approximately $139 billion.
The fact that Amazon's founder, Jeff Bezos, was getting divorced after 25 years of marriage may not have been that big of a deal, except for one small detail that the press quickly noted: The couple had no prenuptial agreement.
A divorce has the potential to significantly affect your business. However, there are ways to help yourself and to protect your business.
Could "Sudden Income Deficit Syndrome," be a factor in your divorce?