Guiding families through all aspects of divorce in North Carolina

Attorneys at Raleigh Divorce Law Firm

Can we keep our business running after the divorce?

On Behalf of | May 11, 2023 | Divorce |

Divorcing a spouse can be complicated. Divorcing your business partner on top of that can be even more so.

There are many technical aspects you must address if you wish to keep your business operating despite the divorce. However, here are two overarching issues you must address in these situations.

1. Your relationship

Perhaps you cannot continue as a married couple – but will that affect your ability to continue as business partners? To some level, you must be able to separate your personal life from your professional life if you want to continue running a business with your ex-spouse after divorce. You must generally be able to:

  • Continue to communicate effectively
  • Set emotions aside
  • Work together

If you both agree to end the marriage and the separation is amicable, you may have a higher chance of collaborating as business partners in the future. If there was significant conflict at the end of your marriage, running the business together may not be an option for the future.

2. The feasibility

No business owner wants to close their doors for good. However, you must consider if it is truly possible to keep the business operating successfully after the divorce before moving forward.

This is one reason why it is so critical to carefully evaluate the previous point – your professional relationship compared to your personal relationship. Evaluating whether or not it is feasible to keep the business running may also require you to:

  • Review and revise business agreements
  • Determine how to continue managing the business
  • Reevaluate each of your roles in the business

Wanting to keep your North Carolina business running and successfully doing so are two different things. Therefore, you must think carefully about whether or not it is possible or sustainable to continue the business together.