Dealing with these rough economic times can be tough on business owners. But throw a divorce into the mix, and things can get even more overwhelming. Oftentimes, parties to a divorce will make misinformed decisions based on their emotions. These ‘mistakes’ can be detrimental to the livelihood of a business and might even wash years of hard work down the drain. Luckily, these types of problems can be avoided, and it is possible for business owners to weather the storm, and complete the dissolution process without losing their life’s work.
In order for Arizona business owners to keep their company from crumbling during a divorce, here are some important factors that our divorce attorneys can assess:
- Business validation
- Type of business partnership
- Acquisition of the business
- Current employees
- Ownership and buyout terms
The bottom line is that people need to make smart decisions when working out the terms of their dissolution agreement. To make sure that you’re making the best decisions for yourself and your business, I recommend that you reach out to a divorce attorney who is capable of finding an amicable solution.
For more information, or to schedule a free consultation with myself, Phoenix divorce attorney, Tim Durkin, contact my office at 480-464-1111. Our family law team can provide you with the support you need to move forward and successfully navigate the dissolution process while keeping your business intact.