Divorce is often a process made up of many decisions, negotiations and compromises. Though some individuals may feel as if they could handle the proceedings on their own, others who face more complicated asset division issues may wish to seek assistance. Luckily, experienced attorneys and mediators could help parties looking to gain more knowledge on their possible courses of action.

For New York residents who own businesses, divorce can have a considerable impact on the success and productivity of that business. Parties who are working to determine how a divorce will affect their business — especially if it is co-owned by their spouse — may notice focus on their company slipping. This lack of focus could lead to a reduction in business productivity that could prove harmful.

Individuals who do not wish to lose their business and who want to remain as focused on it as possible may want to consider mediation when it comes to making divorce decisions. Because business assets and ownership will likely be addressed during property division proceedings, mediators may be able to help parties better understand the value of the business and how each party’s claim on the business could affect proceedings. Additionally, mediation could help with negotiation when it comes to division terms. 

Though each couple may find different aspects of divorce important, business owners may be particularly concerned about asset division. If New York business owners feel that mediation could be beneficial, they may want to explore this option more in depth. Information is available from reliable legal resources that may be able to help parties make decisions best suited for their cases.

Source: biztimes.com, “Mediation can help divorced couples make business decisions”, Erica Breunlin, Sept. 7, 2015