At the Land Legal Group, our skilled divorce attorneys in Los Angeles have guided our California clients through difficult circumstances that they never thought would unfold during their relationships, and know some of the hardest include marriage dissolutions that involve business partners.
We know that some of the smartest and most exciting ideas come from spouses who start, own, or operate companies together.
Unfortunately, when business owners get divorced, the future of the company, their personal finances, and overall livelihoods become the heart of the legal case.
When your personal and professional lives are complex and tangled, there are actions you can take to preserve the important business interests and minimize the stress for both you and your employees.
Here is how.
Separate Your Personal Life from Your Professional Life
It is always true that your and your spouse’s behaviors affect the value of the business.
That will become the top of everyone’s minds once they know you are getting divorced.
Keep your personal life separate from your job, even if your emotions tell you that the quickest way to hurt your spouse is to harm the business.
This is your company too, so any professional damage you invite also affects your future.
To ensure you are operating on an even keel at work:
- Never intentionally damage your partner’s reputation in the workplace
- Never argue or have personal discussions in front of employees, clients, or vendors
- Never use employees as messengers between you and your spouse
- Never ask vendors, employees, or clients to weigh in on your divorce issues
- Never skip work or diminish your commitment to your business during the divorce proceedings
- Never allow the divorce to impact how you maintain accurate and thorough records for the company’s operations or accounting
Focus on making your business as successful and valuable as you can, including protecting the loyalty of your employees and clients by instilling a sense of respect and confidence in those who professionally associate with both you and your spouse.
Equitably Divide Business Interests During a California Divorce
Property division during a divorce is often a stressful process, even when you do not own a business together.
When spouses are company co-owners, they must do everything they can do to protect their business and best interests from the moment they decide to divorce.
Partnering with a skilled Los Angeles family law attorney right away will help you to determine which decisions you need to make during the proceedings, including:
- If you will continue to run the business together
- If one of you will buy the other’s interests in the company
- If you will sell the business and split the proceeds
No matter your choice, protecting the business and its value during this time is crucial, and gaining the necessary legal advice is advantageous for both spouses.
Contact Our Los Angeles Divorce Attorneys at the Land Legal Group Today
If you and your spouse own a business together and are considering dissolving your marriage, contact our skilled divorce attorneys Los Angeles at the Land Legal Group today at 310-552-3500 to schedule a consultation to discuss your unique needs.