How to Handle a Divorce If You Own a Business

If you own a business and are going through a divorce, then you need to address a host of issues that can seriously impact your company. The divorce process can become even more complicated if the business is family-owned or co-owned with your spouse. If you are worried about navigating divorce and maintaining a successful business, then you need to keep the following tips in mind.

Make Your Business a Priority

You have put a lot of hard work into building your company, and just because your marriage is ending, it doesn’t mean you should stop innovating and trying to grow your brand. If your spouse is a business partner, you will need to come up with ways that the two of you can work together until your divorce is finalized. Do your best to avoid criticizing each other and try not to get into arguments that will impact your work. If you need to work separately to accomplish this, it’s alright.

Divide the Business

If you are in a situation where your divorce is conflicting your ownership duties, either because you work with your spouse or your co-owners aren’t able to accommodate your needs, then you might want to consider selling off your business interests to another party so you can focus on your proceedings. If you decide to go this route, you will need to divide the business assets fairly. An experienced lawyer can guide you through this process and help you make smart decisions.

Keep Your Relationship Focused on Business

Whether you decide to work with your ex or not during your divorce, you need to stay focused on business matters. From gossip among workers to the risk of harassment claims, there are all sorts of factors that can draw your attention away from managing your business operation. Remember, your working relationships will be much stronger if you remind yourself that it’s business, not personal.

Seasoned Divorce Representation in Salt Lake City

Our skilled lawyers at Lokken & Putnam, P.C. understand that business owners face unique challenges when they get divorced. That is why we are here to help you protect your business interests throughout each phase of your divorce proceedings. Our goal is to explain all of your options under the law so that you can make informed decisions, and we will use our extensive legal resources to fight you.

If you’re ready to schedule a case consultation with one of our attorneys, then please give us a call today at (801) 829-9783.