Impact of a Divorce on a Business

Category: Family Law

As an Arizona State Bar Certified Specialist in family law matters in Arizona, many of my divorce cases involve business owners and business issues.

Starting a business can be an exciting adventure, especially when you’re young and full of energy. You and your partner have big dreams, and you’re ready to conquer the world. But as time goes on, life happens. Families grow, and sometimes marriages don’t last forever. It’s a reality that many entrepreneurs face.

Without proper legal counsel when you started your business, you could be facing some serious consequences if a divorce enters the picture. Your estranged spouse might have a claim to a portion of the business, which could create a whole host of problems. You may have to buy them out or even consider bringing them on as a partner, which is far from ideal.

The good news is that it’s never too late to take action. Whether you already have a business partner or you’re a sole proprietor, seeking experienced legal representation is crucial. By working with a knowledgeable attorney, you can take steps to protect your business from potential pitfalls and navigate through various life events.

If you’re contemplating marriage, this could involve a prenuptial agreement to protect your business and other assets.

If you are a business owner, our business attorneys can provide you legal advice regarding your business.   If you are also facing divorce issues, or want to protect your business assets in the event of a future divorce, please call 480 733-6800 and ask to speak with Douglas C. Gardner, or visit our website at: