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How a Collaborative Divorce could save your business

August 30, 2010 //  by James//  Leave a Comment

In discussing the benefits of Collaborative Divorce, we often talk about how it will help save your relationship with your spouse, cause you less stress and anxiety, be less harmful to the kids, and usually costs less than “old school” litigation.

One of the real world examples of this is the case of a family that owns a small business, as this story illustrates.  If you are the owner of a small business and are considering a divorce, you must consider how a traditional divorce will impact the business.  As Richard Sharp, a Collaborative Divorce Lawyer, says “a business caught in the cross fire of a divorce will suffer. Inattention from a stressed-out, depressed or preoccupied owner can lose customers and business opportunities. Divorce costs can escalate as competing lawyers and forensic accountants pick over the assets of the business.”

Besides the marital home, a family owned business can be one of the significant assets that is divided in a divorce.  In addition, the family may be relying on income from that business to pay the household bills.  Throwing the business, and the ownership of the business, into the turmoil of divorce can be devastating to the financial prosperity of the family as a whole.

In a collaborative divorce, we utilize interest based, rather than position based, negotiation.  As a result we are able to dig a bit deeper and find out what both parties want out of the divorce.  If the wife wants the marital home and the husband wants his business, than we can craft creative solutions that will get you there, without bankrupting the family with legal bills.  If need be, we can bring in “financial neutrals” and therapists to help the parties work through issues that may arise during the process.

In the end, the parties in Richard’s story ended up with a better, more economical solution to their divorce, all because they chose to go the collaborative route.

Category: Collaborative Divorce, Collaborative Law, Divorce - General, Equitable DistributionTag: Collaborative Divorce, Collaborative Law, divorce, Equitable Distribution, Marital Property, Small Business

Previous Post: « Can Virtual Visitation replace actual visitation?
Next Post: What happens at the first Collaborative Divorce Meeting? »

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The Hart Law Firm, P.A. was originally founded in 2005 as a divorce and family law firm in Orlando, Florida. We moved to North Carolina in 2010, and now work with families to help them navigate the process of separation and divorce.

The Hart Law Firm is conveniently located in Cary, NC. We provide services throughout North Carolina’s Triangle area including Raleigh, Apex, Holly Springs, Garner, Morrisville, Durham, Research Triangle Park, Chapel Hill, Carrboro, Wake Forest, Wake County, Durham County, Orange County and other nearby cities and towns.

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