How will my divorce affect my company’s standing?

Family Law specialists with over 59 years of experience.

This depends on the business, in particular how closely the business is tied to your identity. If no one knows who you are, then they probably don’t know that you are getting divorced. If you are famous and the public closely ties you to your business, then your business could be in the news. It’s possible your company takes a hit to its reputation.

Generally, businesses can continue after a divorce—and many do. The real threat is that the business will have to close for some reason once you are no longer married. Here are some situations where that is possible:

  • You and your spouse founded the business while married and both own it and work in it. This means it is marital property and each of you has a stake. If you can’t continue to work together, then someone needs to give up their share of the business or else you need to sell it to a third party.
  • If you insist on getting 100% of the business as marital property, your spouse will need an equivalent amount in other marital assets. For some couples, the business is their largest asset, so there are no other assets to give. You will either need to take out a loan to buy out your spouse or sell the business and split the equity.
  • The business depends on one or both spouses, who are the public face of the company or contribute unique skills. If one of you walk away, then the business cannot continue.

It is often possible to keep a business going, but you will need to think strategically about how to do so.

Client Reviews

Had free consultation. Advice given was taken, and resulted in change of mind in the other/opposing party. We therefore did not need to retain. Should opposing party resume original opinion, we will retain.

Kit

I was in a terrible custody dispute with my ex. I was very upset and afraid of my ex. Rodd listened to everything I said and remembered everything I said. He was aggressive in court and used the information I gave him very well. We won the case and my ex has backed off.

anonymous

I wanted an easy divorce from my wife. She wanted a fight. Rodd and I discussed fair terms for a dissolution. Because he was pro active and stayed on top of the case, my wife and I finally reached an agreement and had a dissolution. I highly recommend Rodd.

anonymous

I hired Linda Lawrence because I have a business and I wanted to protect it in my divorce. Linda is top notch and knows about business finance and assets. I was able to keep my business and not have to pay my wife anything from it. Hire her.

Linda

I hired Linda Lawrence because I needed an aggressive attorney. Linda was able to stand up against the other attorney and was very aggressive in court. It was an expensive divorce case, but that was because the other attorney was very aggressive and Linda was very thorough. I had great results in my case and highly recommend Linda.

Joy
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Our Practice Areas

Family Law

Attorneys for Divorce, Child Custody & More At the Lawrence Law Office, we are committed to helping families in conflict find creative solutions that focus on addressing their goals and...

Divorce

Columbus & Delaware, OH Divorce Lawyers In Ohio, there is more than one way to separate from your partner and dissolve your marriage. A divorce is typically a contested proceeding, with each side...

Contempt and
Enforcement and
Post divorce

When working through your divorce with an Ohio family law attorney, chances are your divorce agreement made allowances for child support. spousal support or

Business owner
divorce

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

Child Custody

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

High Asset
Divorce Cases

Helping With Child Custody, Visitation & Support Updates Or Modifications Sometimes circumstances substantially change after a divorce and require parents to revisit an existing...

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