If you and your spouse started a business together, a divorce can get very complicated. You’re not just losing your spouse, but also someone you work with and depend on professionally every day.
The most obvious solution may be to sell the company to someone else, but maybe you’re not interested in losing what you’ve worked so hard to build. You still want to be involved. You may also have considered buying out the portion of the company that is owned by your spouse, but that could be very expensive and impractical — plus, they may not want to leave the business, either.
Is it possible for the two of you to keep the company and work together even after your divorce?
Remaining business partners with your ex-spouse is an option
Certainly, this is a legal option. There’s nothing saying that you can’t still work together after a divorce. Choosing to do so makes property division far easier because you keep jointly owning the company and you don’t need to split it up at all.
The question is really just whether or not you and your spouse are on amicable terms and can make it work. It can be difficult to get along with someone professionally if you’re going through a difficult divorce. Even if you’re not actively fighting, you may just feel awkward working with someone with whom you used to be so close on a personal level.
This is a decision you and your spouse will need to make together as they become your ex. Whatever you decide about your business and your divorce, just be sure you know what legal steps you’ll need to take.