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4 reasons your spouse should leave you the business in a divorce

On Behalf of | Dec 29, 2023 | Business Owner Divorce

If you own a business, your spouse might be entitled to some of it in a divorce. Depending on the circumstances, they might be intent on fighting for a share of it, especially if they had involvement.

If you want to keep it for yourself, try looking at things from your spouse’s point of view. Rather than arguing that you started the company or did most of the work, build your case around why it might benefit them to leave it all to you.

It frees them up to pursue other interests

Maybe your spouse always talked about starting a separate business of their own. This could be more difficult if they are still required to think about the current one. Alternatively, if they have always talked about traveling the world, now may be the ideal opportunity, but it won’t be the same if they have to answer emails every day.

It allows them to move on with their emotional lives

Does your spouse really want to have to deal with you for years to come? Will that allow them the emotional healing they need, or would a clean break be far better? Taking an equivalent amount of money in some other form in exchange for leaving you all the business can help create a clean emotional and financial break.

Others may prefer it

Perhaps your business partner never got on with your spouse. Or your employees or clients would feel awkward with both of you still around, unsure what they can and cannot say to each of you without upsetting the other. If that affects profits, it is not good for anyone.

It’s better for your children

Continuing to work together could lead to conflict that affects your ability to co-parent. If you can focus on the business without your spouse, you may be able to make it more profitable and provide better financial support for your kids.

Consider learning more about your options in property division if you wish to protect your business.