Making the decision to get divorced is difficult for many couples, but when you own a business together, there’s more to consider than just who keeps the house and how your marital assets will be divided. You need to account for the business, too. For couples pursuing an uncontested divorce, this process can be fairly straightforward. However, there are a few things you’ll want to consider before meeting with your Virginia uncontested divorce attorney. Let’s take a closer look.
Consider Your Relationship With Each Other
Before you decide what to do with your family business, think about the relationship you have with your spouse. Are you still able to communicate civilly and respectfully? Do you trust them to continue being an asset to your business? If so, working together as co-owners well into the future may still be a possibility. But if you’re struggling to get along or find yourselves disagreeing on key business activities, selling the business may be in your best interest.
Think About What You’d Like to Happen
One of the biggest benefits of an uncontested divorce is that you and your spouse are free to discuss the types of terms you want. Use this to your advantage and think about how you’d like the business managed in the divorce. If you want to continue running it with your spouse, say so. If you want to buy them out or sell them your share of the business, discuss this, too.
Whatever you’re leaning towards, try to have a general understanding of what you’d like to see after your divorce wraps up. You and your Virginia uncontested divorce attorney can discuss those goals with your spouse during negotiations.
Be Ready to Create a Detailed Agreement
If you choose to keep running the business together, be prepared to create a detailed agreement outlining each of your responsibilities. This way, you’ll have a legally binding document that protects your interests and holds both of you accountable if your relationship starts to be strained after the divorce.
Consider the Business’s Impacts on Your Parenting Availability
If you have children, creating a good co-parenting plan with your spouse is essential as you pursue an uncontested divorce. However, if you’re planning on keeping the business, you’ll want to consider its impacts on your availability and think about the type of parenting plan you’ll need to create to continue fostering your company’s growth and stability.
If you and your spouse are still working together, you’ll want to create a rough plan that will ensure your kids are getting the time and attention they deserve from each of you. If you’re not sure where to start, your Virginia divorce attorney can help you create a plan that fits your needs.
Consider Your Spouse’s Concerns
Uncontested divorces are about reaching an agreement that’s beneficial to both you and your spouse. Throughout the process, consider their perspective and how each proposed resolution may impact their lives and their goals. Remember, you’re pursuing an uncontested divorce because you’re able to communicate effectively. Don’t lose sight of the other person’s humanity or their emotions as you negotiate.
Speak With Your Virginia Uncontested Divorce Attorney
Figuring out what to do with your business when getting divorced can be tough, but it’s doable as long as you keep these things in mind. Take the time to consider how every decision you’re thinking of making with your business could impact your divorce and your happiness. With this information at the forefront of your mind, you’ll be ready to schedule a consultation with your Virginia uncontested divorce attorney.
Ready to start sorting out your business and your personal affairs so you and your spouse can get the fresh start you deserve? Contact us today to schedule a free consultation.