Is It Possible To Get Divorced And Remain Business Partners?

You have a stable and prosperous business, a clear development strategy and many goals ahead, but your marriage is deprived of it. Unlike your common business, marriage is irrevocably broken. And such situations are not rare, many couples sooner or later come to the desire to get a divorce due to various reasons. In any case, divorce does not always mean the collapse of the business or its division. In any way this is what you created together, this is your brainchild and the divorce should not cross it out.

Divorce is not the end of life, and certainly not a career crash, moreover,with a competent approach, even if the marriage is finished, the former spouses can further develop their business. A good example is the story of Agostinho Ribeiro and Valerie Calisto, who are law firm partners, as the New York Times says in its article. The love story of Mr. Ribeiro and Mrs. Calistro began in law school, where they both studied. Mr. Ribeiro worked for the law firm Ventura, Ribeiro & Smith, and after the wedding, Mrs. Calistro also began working in the company with her husband. They both worked hard on business development, which brought them considerable benefits.

divorce agreement

However, their marriage was not perfect. Eight years after the wedding they divorced, but remained partners of the law firm, although it was not easy. Mr. Ribeiro and Mrs. Calisto said that almost all of their friend, relatives and divorce lawyers advised them not to work together. Nevertheless, the couple was not going to give up. They closed in the meeting room and came to the conclusion that their personal life and work are two different things that should not intersect. So they did it, despite the divorce Mr. Ribeiro and Mrs. Calisto continued to work in one firm and even made it more successful.

Shabnam Weber and Frank Weber were husband and wife, and also owned a tea business in Toronto, reports the Financial Post. For almost 10 years they have run the family business and developed it together. The couple divorced in 2009, but for another 3 years after it, they successfully managed The Tea Emporium together, until Ms. Weber bought the share of her ex-husband in the company.

Another good example is the story of the Swedish band Abba. Björn Ulvaeus and Agnetha Fältskog were married before the band was created, after a year of marriage, they began to perform together. And 8 years after the wedding they divorced, which had no effect on the work of the group. Despite the divorce of participants, Abba continued to play with the same band members and be at the peak of popularity, as well as go on tours.

This is only a small part of the stories, but they all show that even after a divorce, spouses can remain business partners. What is the secret of success? By and large, there is no secret, there are just clear steps and actions that former spouses must take if they want to keep the business and develop it.

Get Emotions Under Control

DivorceFiller claims that during a divorce, the spouses experience various negative emotions towards each other: anger, hate, resentment, disappointment and so on. However, it is very important that these emotions do not destroy the business. Do not blame your partner and do not hang all the crimes on him or her. The breakup has already happened and you need to accept this as a fact. Controlling emotions also helps to soften the process of divorce itself. Of course, various reasons could lead to the desire to dissolve a marriage, but you need to learn how to cope with your emotions. Perhaps it makes sense to turn to a good psychologist to overcome the trauma of a divorce.

It is important to treat your former spouse with respect. After all, you created a business together, worked to improve it and together increased your income. In essence, your business is your common child. And rash acts under the influence of emotions can harm what you have worked so hard for.

All your emotions should stay at home. At work, you are business partners who have a common goal. Of course, it sounds easy and perhaps in real life, it may be hard to cope with it, however, if the spouses want to keep the business, they should try and deal with their internal problems.

Many business partners who were divorced, but stayed work together appealed to specialists who deal with the Imago Relationship Therapy. These sessions help couples stop shouting at each other and finally begin to hear each other’s needs. Even if the spouses divorced it works well for business partners and helps them to have a rational and calm conversation with each other. Former spouses should learn not to interfere with their feelings in a business conversation.

Contested or Uncontested Divorce

It is not a secret that a divorce can be contested or uncontested, depending on the tension between the spouses. The contested divorces are known for their durability and high cost. At the same time, the court considers various issues, such as alimony, separation of custody, as well as the division of total assets. After all, a business owned by spouses is considered common property. According to DivorceNet, If a divorcing couple cannot reach an agreement, the final decision will depend on the judge and not always will satisfy the interests of the husband or wife. Depending on the complexity of the situation, the judge may take a different decision, for example, the spouses may sell the business and divide the proceeds, which in general is not the best option. If you have long and hard work on your business, you should not give its fate in the hands of the third person.

Much more effective will be uncontested dissolution. Because in this case, spouses will be able to agree on the conditions that suit them, including their business, without any outsiders. Of course, a husband and wife can still seek help from divorce lawyers or mediators in order to resolve their disputes. In addition, the spouses will be able to develop a settlement agreement, which can also positively affect their business and further relations.

Make an Agreement

The entrepreneur says, when spouses start a family business, hardly any of them thinks about a partnership agreement. After all, when relationships are beautiful it is difficult to believe that someday they will end. Spouses have no reason to mistrust each other, so they often miss such nuances that may be important in future. Nonetheless, not only spouses risk in case of divorce but also other persons to whom they are obliged: creditors, suppliers, investors, customers and employees. That is why it is very important to have a partnership agreement, which will set out clear ways to solve crisis situations, for example, how to act if someone wants to leave the business, how responsibilities are distributed, what to do in case of divorce of one of the partners and so on. If there is no such agreement, the spouses should start working on it even before the divorce is granted, because this is their safety bag.

divorce contract

Different situations can lead to the desire to end a marriage. But for spouses who work in the same business, it’s important to overcome the wall of misunderstanding and start a constructive dialogue. The negative attitude of the spouses to each other can adversely affect business development and reduce income. Therefore, it is needed to sit at the negotiating table and discuss all possible situations and find a way out for each of them. It also makes sense to involve specialists such as lawyers or accountants for drawing up an agreement. Do not rush in this matter in order not to miss anything. A good partnership agreement will allow the spouses to overcome not only the difficulties of divorce, but it will also cope with any difficult situations that may arise in the future.

Define Your Roles

Definition of roles in the business has great results. In other words, do only what you are good at, not trying to do everything at once. For example, you do an excellent job with advertising, while your spouse is a perfect accountant. Let everything remains as it is after a divorce. You should not go into accounting and impose your own vision, especially if you are not strong in it. Roles are important for the preservation and development of business. Focus on what you can do perfectly well and let your former spouse do what he or she is strong at. Direct your resources to the development of your professional skills and talents, rather than constantly monitoring your spouse and telling him or her how to do his/her job, this will also reduce the level of conflicts between you.

Talk to Employees

Employees or other partners may be even more concerned about your divorce than you because they do not know the whole story and the nuances. Therefore, it is very important to explain to everyone with whom you work what is happening and mention that it does not affect the company in any way. Your partners and subordinates must be confident in the future and understand that nothing threatens their work. Make every effort to keep your team safe, keep in mind that divorce should not split your employees into 2 camps.

In order to build your prosperous business, you have to go a long and difficult way. It happens that a divorce can break it all in a jiffy. Therefore, when spouses are divorcing, it is very important to perform rational and deliberate acts. Your common business is like your child, he needs you even after dissolution, people with whom you work also need you. Always remain professionals and do not mix your private life with business.

Saurabh Saha
Pursuing MCA from the University of Delhi, Saurabh Saha is an experienced blogger and internet marketer. Through his popular technology blogs: TechGYD.COM & sguru.net, he is helping several brands to gain exposure in front of high-quality web visitors.