Mississippi Divorce Attorney Discusses Divorce for Married Business Partners

Many businesses throughout America are owned and operated by married couples. If a couple who owns a business decides to get divorced, they must also decide whether they will remain in business together. Whichever way they decide to proceed, they will have to make some complicated decisions along the way.

For some couples, their business relationship seems to have a life apart from their marriage. They may be quite unhappy at home while continuing to grow and manage a successful business together. These couples may choose to end their marriage and separate their home lives while keeping their business relationship and business ownership intact. In a divorce like this, the spouses would work with their divorce attorneys to ensure that their property settlement reflects the continued joint business ownership in whichever way the couple feels it is appropriate. It is important to address the issue of the business during the divorce, because business assets are generally considered to be a part of the collection of property which gets divided up during a divorce, either by the couple themselves or by the court, if the couple cannot agree on how to distribute it.

Couples who own businesses may also decide to completely disentangle their lives from one another. In situations where the interpersonal conflict is simply too great to continue living or working together, the couple will work with their divorce attorneys to try to determine a fair way of dealing with the business in the property settlement. For example, if the business is dear to one spouse and they want to assume complete ownership and control of all operations, they may offer to buy out the other spouse’s interest in the business. If neither spouse wants the business, they may decide to sell it and split the proceeds. Couples can be as creative as they want to be when it comes to choosing what course of action that they will take regarding the disposition of their business.

Sometimes, couples may find it difficult to agree on anything except for the fact that they want to be divorced and end their business relationship. In contested cases like these, divorce attorneys work with business valuation experts to gather evidence about what the couple’s business is worth. The attorneys take that information, together with any information that they have regarding their clients’ wishes for how the business shall be disposed of, and present it to the court, which then issues a ruling on how the business shall be disposed of.

If you are divorcing and you are in business with your spouse, you may already know that your divorce is unique. You need an attorney who understands the complexities that come along with splitting up a home and a business or going in different directions in your personal lives while staying in business together.  Mississippi Divorce Attorney Matthew S. Poole can help you to navigate the complexities that go along with divorcing and staying in or getting out of a business relationship. Call (601) 573-7429 today, to schedule a free, initial consultation.

Summary
Article Name
Mississippi Divorce Attorney Discusses Divorce for Married Business Partners
Description
Mississippi Divorce Attorney discusses the implications of divorce on married couples who are also business partners.

Tags: