What Happens To The Company You Run With Your Spouse After Divorce?

Many married people did not even think in their wildest dreams that would get divorced one day. This is especially true when the spouses work with one another. Irrespective of what decision you arrive at, these are some of the important things you need to sort out in your business while your divorce is underway.

You need to be clear about creating divisions between emotional, financial and legal issues

Any divorce is not just a legal split between married couples. When both of you are working together, you should be serious about sorting out ways of dealing with your business, any kids you may have from your marriage and finances in the best possible manner. More importantly, you should make it a point, to begin with segregating these issues, desirable outcomes and needs.

When you are on the verge of coming out of your romantic relationship, there is a tendency seen to let personal concerns complicate the business relationships. So take some time to establish what your specific requirements and desirable outcomes are in different areas with distinct and concrete plans and goals.

Do not be on the journey all alone

Though you may be somewhat prepared now to receive financial and legal aid, remember that it will be a great morale booster when you have some people by your side to support you emotionally. Some experts even recommend counseling. In case you and your former spouse continue to work together but raking up emotional issues from the past in your work, it can be quite tough to manage a business effectively. It is recommended that you form a team comprising of professionals, family, and friends who can help you to get over your emotional and psychological dilemmas.

Take a break from your work

Irrespective of how amicably you parted from your spouse after the divorce. There is bound to be a transition period. So, take some time off from whatever you had been doing previously and try to introspect what you actually want, rather than acting on an impulse and trying to stick together stubbornly or breaking up your business. After all, time does heal everything.

Your roles need to be defined

Not only does your relationship need refining after the divorce, but you should also embark upon drawing clear boundaries around your various responsibilities and roles at work. Proper identification of the task each person will be doing needs to be properly defined. This will facilitate in ensuring that you do not give to micromanage one another.

Getting divorced in California can be complicated! Click this link to download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.  

Gerald A. Maggio is an experienced Orange County divorce and family law lawyer and family law attorney located in Irvine, California, serving the Orange County and Riverside areas. Mr. Maggio assists clients with legal issues including divorce, legal separation, divorce mediation, child custody, prenuptial agreements, stepparent adoptions, and other family law issues. Mr. Maggio has practiced law in California since 1999, and founded The Maggio Law Firm in 2005, focusing exclusively on divorce and family law matters.