Long Island Family Law Attorneys 631.894.4523 Call to Schedule a Consultation

Are You Worried a Divorce Will Hurt Your Small Business?

Are You Worried a Divorce Will Hurt Your Small Business?

Posted By Meyers Law Group || 2-Aug-2012

According to Fox Business News, there are ways in which to lessen the blow on your small business after you and your spouse get a divorce. Many file for divorce because for one reason or another it is the best decision for them. Unfortunately, knowing that a divorce may affect your small business can add a lot of stress and pressure to your already difficult situation. There are a few factors to consider in order helping your business not be as greatly affected by the divorce. The most obvious concern in a divorce is a small business is considered to be an asset, and in most divorce cases those are sorted through and split between the spouses.

We encouraging contacting a lawyer as the first and foremost action, someone who has experiance in the area of divorce will be very helpful when working through assets such as a business. Pre or post nuptial agreements can also safeguard your business, which determine earlier on who the property will go to in the event of a divorce. Another aspect to consider is that if there are multiple owners of your business, then there should be some type of agreement made that would address what happens to the business when the married owners get a divorce. It also may be a smart idea for you and your spouse, and anyone else in ownership of the business, to set up a confidentiality agreement.

This contract will then protect the rights of anything pertaining specifically to the company; this can include secret recipes, or techniques, etc. If you are worried that your business may be ruined by the divorce, another option to consider is to make a settlement payment plan after the divorce. This may allow you to keep the business and pay your spouse profit or some sort in order to protect the welfare of your company. With the help of a skilled attorney, the divorce process can be a little easier. At Meyers Law Firm, we want to help you receive what you deserve in the divorce, and we will fight for you! Contact us today for more information regarding a divorce.