Divorced Couples Can Still Work Together

 Posted on February 11, 2013 in Distribution of Assets

According to a census taken in 2007, about 3.7 million American businesses are owned by a husband and wife. This can be great—until they decide to get a divorce. This happens more than people might think. This article from the New York Times talked to multiple couples who had to deal with this predicament, and came up with a few key points to help.

It’s especially crucial that the divorcing couples reassure employees that their jobs are still secure, and they won’t be asked to choose sides. The husband and wife should try to keep their personal issues out of the office. Therapy should also be seriously considered. Even if the divorce is amicable, there could still be a lot of tension from any unresolved issues.

Terri Allen, who works with her ex-husband at an accounting firm, claims that therapy helped both of them work through problems, allowing them to continue working together. "It helped us learn how to talk to each other in a calm and rational way," she says, also stating that eventually they learned to respect each other and their opinions in the workplace.

One other critical aspect is to create an agreement between the divorcing parties. This way, if eventually one leaves the business, they will know how to split the business assets. It can even be beneficial creating a temporary work contract for one party. This can allow the divorcees some time to work through issues and see if continuing to run a business together is feasible.

Whether you work with your spouse or not, the divorce process can be long and complicated. Our firm, with locations in Arlington Heights and Lombard, Illinois, can help you to understand what to expect from your divorce and help you through the process. No matter if you live in Chicago or one of the surrounding suburbs, our experiences lawyers will work tirelessly to get you the best outcome possible.