Working with an Ex-Spouse Following Your Divorce
When you and your spouse own and operate a business together, there are many business issues that you will need to sort out if you decide to get divorced, aside from the standard issues of child custody and visitation arrangements and who gets to keep the house. More specifically, you will have to determine whether you and your soon-to-be-ex-spouse can continue to operate your business together in spite of your divorce, or if you must choose another option, such as selling the business, buying the other spouse out, or shutting down the business altogether.
If you and your spouse operate a profitable business, and especially if you have done so for a number of
years, you should strongly consider whether you are able to continue doing so. For instance, consider whether you and your spouse are able to separate your emotional and family issues from business issues. If so, or if you and your spouse remain relatively amicable, continuing to operate your business together can be an economic and professional benefit to you both.
Assuming that continuing to work together is even a remote possibility, you should take steps to ease the transition from life partner to business partner. Take a break from each other for a few weeks to help defuse the emotional aspects of your divorce, which you can do by going on vacation or simply minimizing your contact with each other at the business for a certain period of time. Consult with a lawyer to determine how or if your business structure should change and what you should do to protect yourself if running the business together ultimately does not work out. Also consider talking with a therapist about your situation, and get some advice about whether you will be able to handle the emotional aspects of a purely business relationship with your ex-spouse.
Regardless if you and your ex-spouse continue to operate your family business together or not, it is imperative to retain an attorney who understands the whole spectrum of issues that relate to business valuation and division as a marital asset under Georgia divorce law. Shaw Law Firm LLC has handled countless divorces involving all types of family businesses, partnerships, and professional practices.
Contact us or call today to learn how Shaw Law can work with you to achieve the best outcome possible for you and your children.
Scott Shaw is founder and principle of Shaw Law Firm LLC, founded in 1995 and dedicated solely to divorce, family law and child custody matters that must be addressed and decided in the state of Georgia. Shaw Law Firm serves the greater Metro Atlanta area, particularly the counties of Fulton, Gwinnett, Cobb, Cherokee, Forsyth, Paulding, Henry, Fayette, Coweta, Newton, Walton, Bartow and Douglas. Schedule a consultation today at 770-594-8309.