Deciding to get divorced is difficult. There’s no question about it. Even when you know the decision is for the best, it’s not easy – and making that initial decision is only the first step in a series of difficult decisions you’ll have to make. While this is true for everyone going through a divorce, for business owners, there are often even more decisions to make – and added layers of stress as a result. If you’re getting divorced in North Carolina and you own a business, you may understandably be wondering how you can protect it during a divorce. As with many issues that arise in a divorce, there is no one-size-fits-all answer. 

Ultimately, every business is different, and every couple owning that business together will have a different dynamic than any other. It’s important, therefore, to commit to working together cooperatively and communicatively from the beginning. With that in mind, it’s important to realize that there’s one thing you can’t do – and that is to make decisions unilaterally without informing your spouse and working together toward an agreement on what the best arrangement will be for the business moving forward. Even though you may feel angry and upset with one another because of the divorce, trying to put those feelings aside to make the best decisions possible will pay off for both of you, and for your business, in the long run. 

Keeping in mind that you should work cooperatively and openly with your spouse toward making the best decisions for your business, a few important steps for most business owners to take before a divorce include:

  • Having your business professionally appraised by a licensed and qualified evaluator;
  • Making a comprehensive list of the businesses assets and debts;
  • Thinking through the pros and cons of selling or keeping the business post-divorce;
  • Consulting with a qualified team of experts, both legal and financial, regarding how divorce might affect your business, and what your options are.

These are only a few preliminary steps of what should ultimately be a very thorough and comprehensive look at your business and what might be best for its future as you prepare for divorce. 

If you’re an entrepreneur, you’ve likely poured your heart and soul, and your time and money into your business. You want to make the best decisions to protect it. That’s understandable, and we hope that this section provides helpful guidance regarding the unique challenges that business owners face during divorce, and how to work through those challenges successfully.

Of course, there is no substitute for the advice and assistance of an experienced and knowledgeable divorce attorney who knows the law and can help you apply it to your circumstances. At The Law Office of Dustin McCrary, that’s why we’re here, and we would be honored to help you as you seek to work through your business issues and all of the other issues that arise in your divorce too. Call us at any time.

STATESVILLE, NC
Divorce Lawyer

102 W Broad St
Statesville, NC  28677

(704) 380-0456

MOORESVILLE, NC
Divorce Lawyer

106 Langtree Village Dr
Suite 301
Mooresville, NC. 28117
(704) 593-6688

Hickory, NC
Divorce Lawyer

520 8th St NE
Suite #108
Hickory, NC 28601
(828) 459-6464

Lenoir, NC
Divorce Lawyer

118 Main St NW
Lenoir, NC, 28645
(828) 221-2999

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