Divorcing Florida couples wanting to keep their business should consider mediation
by
Daniel M. Copeland on Feb. 17, 2015
Divorce & Family Law Divorce Business Corporate Lawsuit & Dispute Mediation
Summary: Many Florida married couples are also co-owners of a business. This arrangement can work well while the marriage does.
When the thought of divorce creeps into the picture, however, the business often suffers. But if these couples consider divorce mediation as they work out a settlement, they may be able to continue working with each other to make their business a success.
Unfortunately, many businesses owned by married couples on the verge of divorce never have that chance. During the divorce, their business takes second place to their personal issues and falls apart. Divorce settlements often include provisions for selling or closing the business, or make arrangements for a buyout by one of the parties involved. It need not be that way. Some couples do continue their businesses with great success, even after a divorce. Many of them even are able to work together, provided they have professional respect for each other.
Falling out of love need not mean the end of the relationship. The relationship between two parties who respect each other for their business abilities can evolve into one that is mutually beneficial—and can even help their business. Those very qualities that made the couple’s working relationship a success can continue even after the spark of romance dies out.
Florida couples that can put their marital relationship differences aside for the good of their business should consider divorce mediation. Divorce mediation can help the couple negotiate percentages owned by each party, outline the duties of each party, and determine profit distribution. In addition, a formal business agreement should be crafted as part of the mediation process, if there is not already such an agreement in place. Divorced couples can keep their business if they can come together during the mediation process to create an equitable agreement that benefits both parties—and their business.
