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Staying Business Partners After Divorce

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BLOG DM How can business valuators help my divorce case PHOTOIf you and your spouse are business partners but find that your marriage is no longer working out, you may wonder whether it is possible to continue your professional relationship while ending your personal relationship. Well, every relationship is different ”“ if you and your spouse have remained amicable, then it could be possible to continue running the business together. However, divorce has a way of throwing a wrench into every aspect of your relationship and you may find that the hassle of continued professional ties can be more trouble than it is worth.

Tips to Keep Your Personal and Professional Lives Separate

  • Set ground rules. A common one is to keep emotion out of the workplace. No arguing at work, and if something does come up that needs to be addressed, set aside a time outside of work to speak to your ex-spouse about it, or schedule time with a therapist.
  • Most businesses start with formal agreements between managing partners that deal with what will happen if the partnership breaks up. If you and your spouse started a business together, odds are you were not thinking about an eventual dissolution of your marriage, so you probably do not have a formal agreement. Now is the time to make one. You can do it yourself or discuss it with an attorney. We recommend the attorney option; there are many aspects of separation agreements that you might not think about without a professional helping you along.
  • Define your roles. Divvying up your responsibilities based on your individual strengths can help keep the business machine oiled and running. Perhaps one of you is better at handling finances and the other is better at managing employees. As long as you can trust one another to fulfill your roles, this separation helps keep everything flowing smoothly.

Our Denver divorce attorneys will zealously advocate for your best interests and seek the optimal resolution to your divorce.