Divorce is complicated; there is no question about that. But, one factor that can make an already complicated process even more complex is when one party or both parties together own a business. If this is your situation, you want to make sure your business interests are protected. Here are some tips for protecting yourself and your business during a Wheat Ridge and Jefferson County divorce.
Business Owners Getting Divorced: Tips to Protect Yourself in Arvada
- Don’t Split the Business in Half: It sounds ideal, right? Just agree to split the business in half, so that things with your divorce will progress more quickly. However, it never ends up begin the ideal situation. Running a business is stressful – and that stress will only be multiplied when you are working with your ex. It is not very often that former spouses can work together to run things successfully. Look for other ways to divide assets without splitting the business.
- Postnuptial Agreement: Much like a prenup or prenuptial agreement, a postnuptial agreement can protect your assets. The ‘post’ means that it is filed after the marriage is legalized. This agreement can outline how your assets will be handled in the event of a divorce. You can find ways to make sure your spouse is taken care of, and gets appropriately compensated without changing the infrastructure of your business. Please note, this agreement should be created and filed before divorce proceedings begin. If it is filed just before a divorce is filed, a judge might not make the parties adhere to the agreement.
- Get an Arvada Divorce Attorney Immediately: It’s very important that you hire an experienced divorce lawyer to protect you and your business. Look for someone who has dealt with cases similar to yours, and has ideas about how to effectively divide or split assets, without effecting the integrity of your business.