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Remaining business partners after divorce

For many Florida families, personal lives and professional undertakings are entwined in the form of a family business. When a divorce is underway, many spouses are concerned about how to maintain their business connections while unraveling their family bonds. It's possible to continue a partnership after divorce, but it requires a significant input of time and effort.

One of the most important things for each spouse to remember is to maintain confidentiality throughout the divorce process. This means avoiding speaking ill of one's soon-to-be ex in front of employees, business partners, investors or clients. Frustration should be aired with friends, family or even a therapist, but not in a business setting.

It is also important for each spouse to focus on work as the divorce moves ahead. Doing so can help reinforce the division between one's emotional reaction to the divorce and the need to keep the business up and running. It can also help improve the bottom line for both spouses, which is a welcome bonus during a divorce. There is also plenty of research to support the idea that having a distraction is an excellent way to avoid emotional turmoil.

Once the divorce has been made final, both parties should take the time to formalize their business relationship. A written agreement can be drafted that clearly outlines all aspects of the partnership. That can give both parties clarity on how they will move forward as business partners, and it can also help to reduce misunderstandings and conflict in the months and years that follow a Florida divorce.

Source: business.com, "5 Ways to Remain Civil Business Partners Post-Divorce", Aqib Nazir, Oct. 3, 2016

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