You have plenty of experience running a company in Florida, but you filed for divorce for the first time recently. How does dissolving a marriage usually affect business operations?
Business.com breaks down the many ways divorce ripples over into a business. Understand how to prepare yourself and your business venture as you start the next chapter of your life.
The financial affect
Depending on the role your current partner plays in your business, he or she could have a claim to its name. As an equitable property state, Florida courts decide how to divide marital property fairly and equitably between divorcing spouses. If you and your soon-to-be-ex-spouse cannot agree on a fair division, this aspect of your divorce could take a while.
The day-to-day affect
You must be careful not to let your legal situation spill over to daily business operations. If you become distracted by your divorce, it could affect your company negatively. Even if you cleanly divide your personal life from your professional life during your divorce, you may need to take time away from running your enterprise to gather and organize business documents for your divorce.
Depending on how your divorce settlement goes and your current spouse’s claim to your company, you may see more of him or her than you like. She or he could become a partner and make unwanted changes to your business. Your current partner could also sell her or his stock, which may alter your stock price.
You deserve to know the many ways divorce affects a business. When you have all the facts, you may prepare a resiliency plan.