Over the last three years, you and your spouse worked hard to build up a successful business. Unfortunately, all of the time and energy that you put into the business meant that you had little left for the relationship. Your marriage itself seemed to slowly fall apart and you are now considering a divorce.
When your spouse first brought it up, you assumed that that would be the end of running the business together. But the company itself has been wildly successful and exceeded your expectations. Neither of you wants to leave, either by buying out the other person or by selling the business to a third party. Can you keep running it together?
It can be difficult, but it is possible
From a legal standpoint, yes, you absolutely can continue to run the business together. You don’t have to sell it or divide it as an asset, considering you both still own it and you keep your value in that asset. Most business partners are not married, so you certainly can shift your relationship to a business one instead of a romantic one.
The biggest question is whether or not you personally believe that you can do this. Some couples are so dedicated to the business or in such a good relational place even during a divorce that it’s no problem. Other couples really struggle to even get along or talk to one another after a divorce, which makes it virtually impossible to run a business and make the decisions that will help that business thrive.
One potential option may be to hire a therapist to help you as the relationship transitions. Another option could be to clearly divide the different tasks and responsibilities that you have at the business so that you’re not working all that closely with one another. It can be difficult to set all this up, but it is certainly possible if you want to keep growing that business together.
Your legal options
This does mean that you’re going to have a very complex divorce process, so make sure you know about all of your legal options and your rights.