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Specialty tag(s): Divorce for Business Owners, Divorce

How to Protect a Business From Divorce

Rob Frazer | March 8, 2024

When a business owner gets divorced, it’s important to protect both ownership of the business and the business itself. An experienced divorce lawyer, like the ones at Goranson Bain Ausley, can advise you on how best to work toward both of these goals.

If you’re concerned about protecting your business from a divorce because you want to retain ownership of it, that may be possible, but you’ll need to work with your attorney to fully document how and when the business was started. If you started the business before you got married, you may be able to prove that it should be considered separate property and not split with your spouse. Otherwise, the business will most likely be included in the process of property division. However, your attorney may be able to help you negotiate a divorce settlement that allows you to retain ownership, as long as your spouse is fairly compensated.

If you’re worried about protecting business assets from the divorce so that the business itself isn’t harmed, the good news is that you may not need to worry. The most important thing you can do to protect your business during the divorce is to remain calm and keep running the business just like you always have. Meanwhile, your divorce lawyer will work on securing your ownership of the business. In the end, the goal is to emerge from the divorce with your business well-positioned for continued success.