Divorce not always the end for businesses owned by two ex-spouses

On Behalf of | Apr 28, 2014 | High Asset Divorce

Divorce is rarely a quick and simple process. Couples here in Colorado have several decisions to make in relation to child custody, asset valuation and property division. Sometimes couples who co-own a business have to determine whether they will continue to run the business together after they divorce. It often happens that one spouse leaves the company, but there are instances where ex-spouses continue to work together for the benefit of the business they may have dedicated their entire lives to.

If divorcing spouses can keep their business dealings separate from their personal lives, it is possible to continue to running a company together. They may even feel as though they have no other choice since their business may be the primary source of their income. One couple who decided to keep their business relationship intact even says their friendship has improved since their divorce.

Couples aren’t always able to work through their differences — there are potential problems that could arise in the future, particularly if one spouse makes the decision to remarry. The new marriage could interfere with the business, and vice versa. Still, many decide that working through business-related differences is not as stressful as personal differences that may have led to the divorce.

Many Colorado families might find themselves in a similar situation. It is crucial that whatever the two ex-spouses decide, that they communicate openly and honestly when it comes to business matters. That communication will be helpful during the entire divorce process. With determination and hard work, everyone may very well be able to move forward to a brighter future.

Source: NPR, “When Divorce Leads To A Happily Ever After For A Small Business : NPR“, Yuki Noguchi, April 17, 2014