Tag Archives: family business

When Married Business Partners Divorce

The dissolution of a business partnership can easily become rancorous. The dissolution of a marriage can also become rancorous. Put them together and you find problems that are unique for both partnership and marital dissolution. I do not know how  common the situation is but I suspect it is more common than we think. Eighty to ninety percent of all businesses in the USA are family owned and more than a few of these involve husband/wife teams running the business. When the spouses decide to divorce the economic issues of the divorce are complicated by the issues of the business. Generally, the problems arise because the business is the livelihood of both partners. This presents some difficult choices. Assuming that this is not a wealthy couple, in which either or both has sufficient wealth to retire, both will continue to need the income generated by the business. There is a limited universe of choice.

Continue reading

Leave a Comment

Filed under Article