Co-Owning a Business After Divorce

According to the Census Bureau, there are over 3 million small businesses that are held by husband and wife teams. These small businesses can thrive when a couple combines their love for each other and their love for their product or service. Yet if the couple's marriage begins to crumble, so will their company. That is why it is very important to have strategies prepared or to consider options regarding divorce and business dealings.

If you and your spouse are capable of divorcing amicably, you may be able to sustain a relationship as business partners. Individuals who can separate their personal life from their professional life may be able to see their spouse as simply a co-owner and continue business as usual. Divorce lawyers say that this strategy is similar to the business of "co-parenting." Like co-parenting, parents will work together to make decisions that are best for the business and will adhere to specific schedules or regulations as they see fit. Co-owners of a business need to be practical and helpful with their business dealings.

Our team has over 30 years of experience in family law and divorce. We want to help you with your case by providing you with trusted representation and assistance. If you want to learn more about how our team can help, call Cutter & Lax today. We will assist you as you work through the community property laws that govern California property division. Our attorneys can then work through business dealings, and help you decide whether you should sell the business, divide shares or co-own the business in an amicable business relationship. Call today to get more information from a San Fernando divorce lawyer at our firm.