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Divorces between business partners can add challenges

Divorce is always a difficult and often complex time for people in Georgia coming to the end of a marriage. The disentangling of emotional and familial ties can be draining, while the financial and practical aspects of property division can at times be overwhelming. The complexity of asset division during divorce can be underlined when the two divorcing spouses are also business partners who run a company together.

Dealing with divorce while protecting the financial interests of the business can be a particularly delicate task. Depending on the financial and personal situation of the people involved, there can be a number of right answers to the question about how to handle the joint business even as the marriage comes to an end. Some divorcing partners choose to split the business in various ways, while others choose to grant the business to one partner while compensating the other with assets in other areas. Still, other couples choose to end their romantic relationship but remain active business partners.

There are a few guidelines to keep in mind that can help divorcing spouses to deal with their business interests. This can include separating the legal and financial issues - especially those related to the company - from the emotional aspects of divorce, a process that can be helped significantly by the work of professionals. Professionals in a divorce case can include a family law attorney as well as counselors and financial advisers. It can also be a good idea for divorced spouses who remain business partners to create clear delineations of their roles in the company.

People going through a divorce with complex assets, including a business, extensive investments or other types of property, may benefit from working with a family law attorney. A divorce lawyer may be able to provide strong representation to a divorcing spouse that protects their interests and leads to a fair settlement.

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Hecht Family Law
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