4 Things Business Owners Need to know About Divorce

You’re 35, you own your own business, and it’s making money. You get to be your own boss and the dream you’ve been working toward since college is finally falling into place.

Then your spouse asks for a divorce. Not only is your personal life changing dramatically, but your business could be in jeopardy. Below are five things you must know to protect it.

1. The best protection is a prenup.

Naturally, if you’re already married and you don’t have a prenup, it’s too late – though you could consider a post-nuptial agreement. Either way, this is the best tactic to protect your business. You simply craft a prenup states that your company doesn’t count as an asset that needs to be divided, but belongs to you alone.

2. You can negotiate with your spouse.

So you don’t have a prenup and your spouse won’t sign a postnup so close to the divorce. There are still things you can do. It pays to negotiate with your spouse. Be civil and work toward an agreement that helps both of you. For example, if you care about keeping your company 100 percent in your hands more than anything else, but your spouse doesn’t know where he or she is going to live, your spouse may be happy to take 100 percent of the home – rather than selling it and splitting the proceeds – in exchange for his or her half of the company.

3. You need a realistic valuation.

One of the keys to using this tactic lies in getting a true valuation of the company. Remember that this may not be the same as the money you put into it. For your purposes, it may also be helpful to have the valuation come in as low as possible. Don’t take it as a slight if you think your company is on the rise and worth $1,000,000 when a financial expert says it’s only worth $400,000. The low price makes it easy for you to buy out your spouse so you can work on getting it to that $1,000,000 goal.

4. Be professional.

Yes, a divorce is personal. But you must remember that dealing with your company brings you back to the professional side of the process. Be honest. Don’t try to hide assets. Don’t refuse to speak to your spouse. Don’t fight over trivial things because you’re feeling so emotional. Try to keep a calm outlook at all times, focusing on your professional future and what you need to do for your company. This mindset puts the company first and helps ensure an agreement you’ll be happy with in five years.

Divorce is hard for anyone, but it’s especially complicated for young business owners. Make sure you know your legal options and what you can do to protect your company and seek an outcome that keeps it intact.

Protect Your Money And Your Family

We remove fear associated with divorce, protect your money & maximize time with your kids!

We're here to help. Let's determine your best options.

Call Us 24//7 at 801-685-9999 to Speak with a Live Representative

Utah Divorce FAQs
Top 100 Divorce Blog
What Clients Are Saying…
BrownLaw icon
Excellent
Brown Family Law
4.8
Based on 918 reviews
Great support, Russell and Connor were amazing and got my case dismissed in only 2 months. Great communication with weekly calls. Easy to work with and were very conscious on not overspending my budget. Great team.
Response from the owner:Daniel, thank you for the kind words, and happy Russell and Connor did well for you.
Anne Greyson long was great to work with she really listens and fights for her clients thank you so much for all your hard work
Response from the owner:Thank you, Heather. Glad Anne-Greyson helped you so well.
You get what you pay for, and the Brown Family team is worth every penny. We truly appreciated their team-based approach, making sure that every detail of our case was thoughtfully handled. They were incredibly easy to work with, kept us informed throughout the process, and made sure no question ever went unanswered. By far the best family attorneys I’ve worked with, and the only ones I’ll call if I ever need legal help again.
Response from the owner:Chris, thank you. Glad we were able to guide you through your process.
Andrew made the whole process smooth and quick! Kept me updated on any changes, and followed up with me constantly!

Made me feel at ease throughout the whole process and made sure I felt seen/ heard!
Response from the owner:Joselyn, thank you for the kind words.
David Handy is my attorney and he is excellent. He understands my cases and is well informed to defend my needs and the needs of my kids. He is supportive and compassionate. Telling me how things are and what to expect. He does very well with my high conflict cases (protective order and divorce). I highly recommend him and the Brown Family Law firm. Everyone I have talked to is helpful. Especially Conor Schetzel who is currently the paralegal on my cases.
Response from the owner:Suzanne, thank you and glad David has taken care of you.
Nathaniel Garrabrandt and Brown Family Law is where I send people who are seeking Divorce. Highly professional and compassionate. Thank you!
Response from the owner:Jaren, thank you for the referrals.
I cannot say enough good about my experience with Brown Family Law. Ray Hingson and paralegal Carren did an excellent job with my case. I will definitely use this firm again for any legal issues.
Response from the owner:Meghann, so glad Ray and Carren took good care of you.
I have worked with Andrew Christensen many times in a variety of situations. I am very impressed with his friendly demeanor in a difficult situation. I would highly recommend him to you without any reservations.
Response from the owner:Thank you, Monica.
Highly recommend Brown Family Law. Life is hard, divorce is harder, and Andrew Christensen is your guy to help you through to the other side.
Response from the owner:Mike, thank you for the kind words and the referrals.
When you’re going through a tough time and need legal help, this firm isn’t just a one-person operation. It’s a team of attorneys who work together to support you every step of the way. So you’re not just getting a lawyer, you’re getting a legal team behind you.

Navigating the legal system was a steep learning curve for me, and my situation was fairly complex. What stood out about this law firm was the way multiple attorneys collaborated to address my case. It wasn’t just one person working in isolation, but a team supporting each other to find the best path forward. That kind of collective effort is a real strength, especially in hard out complex situations like mine.

There was one issue I felt should have had a different outcome with the court. When I brought it up, the team responded in a very professional and respectful manner, which I truly appreciated. It came to my understanding that the legal system sometimes works in a way that is distant than I thought. This was presented to me in a way that someone outside of the legal system could understand.

In my experience, this firm takes the time to not only assist you, but also help you understand why things are happening. That made a big difference for me, and it’s something that really sets them apart.
Response from the owner:David, thank you for our conversation and taking the time to leave this review.
yH5BAEAAAAALAAAAAABAAEAAAIBRAA7

Categories