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3 considerations for divorcing business owners

On Behalf of | Jan 5, 2023 | Divorce

Deciding who gets what can be a huge area of contention in a divorce. If you and your spouse own a business in Ashburn, things could get complex. The business may be your most valuable asset, and both parties may want a share of it.

If you have pre or post-nuptial protecting the business, then the way forward may be clear. But what if you don’t? Here are some things to consider:

#1. Can you continue to work together

If you simply drifted apart or fell out of love, then maybe you can continue working side by side. If one of you cheated on the other, or you are divorcing because you are sick of arguing or because one party was abusive toward the other, then continuing is probably not realistic.

#2. How important is the business income?

Let’s say your spouse is more involved in the business, and you just helped out occasionally. If your continued involvement will upset them, it may harm their ability to run the company effectively.

Ensuring the business stays profitable could be a crucial especially if you have children. If stepping aside facilitates that, it may be wise.

#3. Are there other business partners to consider

Other business partners might prefer working with one of you than the other. Or perhaps they want you both to stay on board. While they have no right to rule your personal life, you owe it to them to listen to their opinions on how any choices you make might affect the business.

Consider legal help to understand more about your options when dividing property in a Reston divorce and how any decisions could affect your business.