On behalf of The Law Office of Gustavo E. Frances, P.A.
Many divorcing couples realize this when it’s too late, but a divorce affects each and very aspect of your life, especially if you and your soon-to-be-ex-spouse co-own a marital business together.
When a couple is going through a divorce, that couple will be up against a plethora of challenges. “But when that couple co-owns a business, this will further complicate the process of getting divorced,” says our Fort Lauderdale divorce attorney at The Law Office of Gustavo E. Frances, P.A.
But does it mean that you should endure suffering for years or decades to come and avoid getting divorced just because divorcing when you and your spouse co-own a business is not easy? No, not at all.
All we are trying to say is that if you are about to file divorce papers or have already done so, and you co-own a marital business with your spouse, you need to be legally prepared in advance in order to minimize the risk of or avoid unnecessary complications in your divorce case.
Getting divorced when you and your spouse co-own a business
Hiring a divorce attorney Fort Lauderdale or elsewhere in Florida is usually the best way to approach a divorce when you and your soon-to-be-ex-spouse co-own a business. After all, it’s not just the stability of your emotions and your personal finances that is at stake, but also the future of your business.
Unless you follow the guidelines outlined by our divorce lawyers from The Law Office of Gustavo E. Frances, P.A., the risk is high that your business is not going to survive through this divorce. So what do you need to know about getting divorced in Florida when you and your spouse co-own a business, and how can you make the process less complicated and painful than it already is?
Try your best at getting a collaborative divorce
There is an unwritten rule that goes like this: “The best way to help your business survive through a divorce is to get a collaborative divorce.” Now, I know what you are thinking. “Collaborative divorces are not possible when you are dealing with an uncooperative spouse.” We get it.
Still, it does not change the fact that you should do your best at seeking a solution for your divorce without having to take it to trial. After all, divorcing via litigation can be quite unpredictable, and can negatively affect your divorce. In fact, if you choose to go to trial in your divorce, do not be surprised if your marital business does not survive through the divorce.
Mediation to help your business survive through a divorce
Mediation is another recommended method for getting divorced when you and your spouse co-own a business in Florida. Mediation exists for a reason. When both parties are represented by their own divorce lawyer in Fort Lauderdale or elsewhere in Florida, the goal of mediation is to come to a mutually beneficial agreement. In most cases, this means you will have to compromise in order to make sure that the outcome of your divorces is satisfying for both parties. As you may have guessed, the future of your martial business will be the cornerstone of your negotiations during mediation.
Get a valuation expert on board
When neither of the two options (collaborative divorce and mediation) works, you and your spouse may have no choice but to divide your martial business. But dividing a business is no easy task either, as prior to dividing it, you will have to estimate how much your business is worth. The best way to ensure that your business is properly evaluated is to hire a valuation expert who will thoroughly assess each and every aspect and element of your business to determine its worth.
After you have a solid number, your Fort Lauderdale divorce lawyer will take it from here. Whatever happens in the course of your divorce, always keep your options open, and never should you ever accept your spouse’s terms and conditions without consulting with an attorney first. Get a free consultation from our experienced divorce lawyers at The Law Office of Gustavo E. Frances, P.A. Call our offices at 954-533-2756 today.