Two Decades Of Florida Family Law Experience

Three factors for divorcing female business owners to consider

On Behalf of | Aug 5, 2021 | Divorce

If you’re a female business owner in Florida who is about to go through the divorce process, there are special concerns regarding the future of your business. Here’s what a female CEO needs to prepare for a divorce.

Determine if your business is on the line

The first thing you’ll want to do is learn if your former spouse has any right to claim partial ownership of your business. If you started this business before getting married, your spouse typically has no right to it. If you started this company during your marriage, splitting ownership during the property division process is a possible outcome.

Try for a collaborative divorce

One of the best divorce tips for female CEOs is to try to negotiate with your spouse. Depending on how the marriage ended, acting cordially with your spouse might feel impossible. However, temporarily collaborating with them could mean a quick divorce and getting to maintain complete control over your business.

Consider buying out your spouse

If your business is marital property and collaboration isn’t an option, you could buy out your spouse’s share of your company. To complete this process, you’ll need to get a fair valuation of your business. After determining how much your ex-spouse’s share is worth, you can pay them this amount of money. By doing this, your former spouse no longer has any stake in your company.

Following these tips may help ensure that you get what you want from your divorce. Your financial future may depend on how much control you retain over the business you have worked hard to build, so it’s important to protect your interests.