Marriage is a partnership. For some, this partnership pertains only to domestic life and each spouse pursues a separate career. For others, this partnership is a business one, as well. Operating a business with your spouse is no easy task. According to the Americans for Divorce Reform, statistics suggest that 40-50% of marriages end in divorce in the United States.
For couples who work together, sharing business responsibilities can make domestic and business decisions more stressful. Nevertheless, some couples manage to do it very successfully. Couples who are in business together seem to follow many practices that help to keep marriages healthy. They interact well and communicate about business problems effectively, just as couples with strong marriages discuss their personal issues.
Spouses who are business partners often divide the responsibilities. They take the time to evaluate their strengths so each spouse is handling the tasks that best suit him or her. Similarly, in order to have a healthy marriage, spouses must share responsibilities pertaining to child care, housework, finances, and other issues that face married couples.
Sometimes spouses do not agree on a business issue. In this situation, many couples consult others and listen to ideas with an open mind. A willingness to explore other opinions gives both spouses the opportunity to compromise and to come to resolutions that are best for the business. Couples who do not work together may also discuss issues calmly and reach resolutions in a similar manner. At times they may seek outside opinions, too. Other times, they may decide to put aside their disagreement, or one party may decide the issue is not important enough to pursue.
On the other hand, there are couples who try to work together, but are unable to balance the stresses of family life and the workplace with their spouse. In some situations, it is difficult to avoid bringing personal problems to the office or impossible to leave business concerns at the workplace.
Thus, while many couples manage to have a strong relationship managing their business and home life, pressures at the workplace or in the home can lead to divorce for others. When a couple who shares a business gets divorced, the dissolution of the marriage and the allocation of assets can be even more emotional and delicate. In some instances, divorcing couples move on with their personal lives while retaining their business relationship. In others, business buy-outs or other arrangements must occur because it is in the best interests of the business and the individuals.
If you are considering filing for divorce, whether or not you work with your spouse, the Law Office of Knellinger & Associates can help. It is our goal to help you through this difficult family process. We have years of experience with divorce proceedings, custody issues and the distribution of assets and liabilities. We also have extensive experience with the sale and purchase of businesses and their assets. Please contact our Family Law Attorney at the Law Office of Knellinger & Associates to find out how we can assist you.