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Can you run a business with your ex?

On Behalf of | Aug 22, 2021 | High Asset Divorce

People who have worked hard to build a viable business aren’t likely going to want to call it quits just because their marriage didn’t work out. While there are some instances in which there isn’t any way exes can run the company together, there are some who are able to put their personal feelings aside and continue to do just that. 

There are several things to consider if you want to remain involved in the business with your ex. The goal of this is to ensure that the company doesn’t suffer just because of the divorce. 

Get a written agreement

In order to continue operating the company together, you and your ex will have to outline a partnership agreement. This should include everything from responsibilities to how pay and expenses will be handled. The more detailed the agreement, the less chance that something will be subjected to a dispute that has a critically negative impact on the company. 

Plan for conflict resolution

There are bound to be disagreements between you and your ex. Planning for how these are going to be handled can benefit everyone in the business. You should include a conflict resolution plan in the partnership agreement that you and your ex create. This may include things like discussing the problem away from the business or using mediation to come to new resolutions. 

Individuals who are going through a divorce should carefully consider each point of their divorce agreement. This includes what will happen to marital assets. Working with someone who’s familiar with these cases can help you to learn your options and ensure that your interests are protected. 

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