You feel certain about your decision to divorce your current spouse, but doubt settles over other aspects of your life. For instance, how may your divorce impact your business?
Business.com explores how dissolving a marriage affects a commercial venture. Learn how to prepare yourself and your business for a major life change.
Daily business operations
Depending on how much you have on your plate during your divorce, you may find it difficult to focus as much on your business as you want to. You may find yourself emotionally and mentally scattered, and dissolving your marriage may drain your energy, leaving you with less to devote to business matters. Do you think your soon-to-be-ex-partner may fight for a stake in your company as part of the divorce settlement? If so, that may mean the two of you transitioning from romantic partners to business partners. Further, if your current partner already acts as your business partner or associate, your divorce settlement may put her or him in a position of power, maybe as your senior.
Did you buy or financially support your business during your marriage with marital funds? If so, your soon-to-be-former-spouse may have a claim to half your business assets. California exists as a community property state, so even if neither you nor your current spouse contests the divorce, your soon-to-be-ex may request half of the assets in your name that you acquired during your marriage.
You may take steps to protect your business from divorce. Create a resiliency plan for yourself and your company during and after your marital split.