Arnel Law Firm
Free Consultations 347-966-7378
Experienced Family Law Guidance And Advocacy Since 1983

Is it possible to share a business after a divorce?

Many people are familiar with the challenges of co-parenting after a divorce, but what about running a business together? For many New York exes, shared commercial ventures are among the most contentious things they face when untying the knot. Many may wonder about their options when it comes to a shared business, and whether continuing to run a lucrative business together despite the divorce is a good idea.

One of the major issues that can arise for exes who choose to continue with a shared business venture is that new partners may have difficulties with the arrangement. This can be particularly problematic for new partners if running the business requires close contact between both parties. Establishing boundaries is important in these cases, and partners should do what they can to support these boundaries and clarify their comfort level early on. 

There are a few things co-owners of a business can do to keep things running smoothly in spite of a divorce. Assigning clear and separate responsibilities is typically a good idea, as is developing a forum for conflict resolution. Keeping boundaries regarding what is appropriate to discuss in the business and making sure professional lines do not get crossed is also important.

Shared businesses can be a source of great wealth or great conflict for families. Those who cannot handle their partner sharing a business with an ex should think twice before getting too involved. New York individuals going through a divorce and wondering about the future of a shared business can also seek advice from a family lawyer. 

Source: detroitnews.com, "Ex-etiquette: Doing business with an ex", Jann Blackstone, April 13, 2018

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Arnel Law Firm

16 Court Street
Suite 2905
Brooklyn, NY 11241

Phone: 347-966-7378
Fax: 718-875-8951
Brooklyn Law Office Map