Divorce as a Way to Succeed in Business
Divorce deals a big blow to the emotional state of the spouses in most cases. This process can be accompanied by loud and lengthy disputes, a lot of misunderstandings, difficulties in solving everyday issues, and even threats. Divorcement proceedings are becoming quite problematic for families that have an ordinary business, or if one of the spouses has their own business. The thematic of the separation of commercial and related assets is one of the most painful. So, today we will try to understand all the things connected with this challenging theme.
How to Protect Your Business Before Marriage?
An inexperienced or novice businessman rarely thinks when entering into marriage about creating possible ways, to protect his or her project from the problems that may arise if the marriage will not be long and happy and as in an oath, will not last “till death do spouse part.” Even experienced businessman may do not carry about special ways that would save his/her business during divorcement, because when the heart is filled with love, it seems that your second half will never do any harm to you. Unfortunately, love rarely lives forever, moreover, because of such a thing as “the human factor” no one can predict all the consequences of a joint life.
People make a lot of mistakes. Some of them come out unintentionally; some are committed under the influence of resentment or because of the pressure of unauthorized people. Therefore, before entering into marriage, it is essential to consider possible options for the development of living together.
The only and most obvious option is to conclude a marriage contract. It is thanks to this document; each spouse will be able to live peacefully in marriage, knowing that during a divorcement, they will receive exactly what is written in this contract, and not a drop less.
This document allows the spouse, who owns the business, not to worry about the fact that during a divorcement he or she will lose some part of own project, in which a lot of strength has been invested.
During the signing, this type of document, the best way for the spouses is to turn to lawyers who can competently draw up a report in which the partners can be entirely sure. Naturally, love feelings can interfere with rational thinking, because of this the help of a lawyer is necessary for the spouses to perceive the situation from different sides, as well as to think constructively.
Ways to Preserve Marriage and Business
Doing a joint business can become a big problem for a couple. Making everyday decisions that affect the financial well-being of the company often leads to conflicts that continue even in the home environment. Such disputes can lead to the fact that the couple no longer feels that thrill and romance, and as a result, the spouses decide to divorce.
However, before filing for divorce, there are some tips for those people who want to save their marriage and develop their business.
1. Do not take business decisions at home. This turns your average, matrimonial home into an office where the spouses feel like employees, not as husband and wife. The house should remain the home, and all business matters should be resolved exclusively in the workplace. The same applies to work papers. For example, in the living room, or on the kitchen table there is no place for work papers.
2. Keep your emotions. If the spouse does not participate in the business, you should try not to bring your discontent at the home. It will be exceedingly terrible if you come home in the wrong mood that was spoiled by your employees or clients and harm your spouse with the common phrases. Spouses must share what worries them, what causes disappointment, or vice versa, what gives joy. No one can use the family as a place to throwing out negative emotions.
3. Time together. The larger and more well-known the firm is, the more time it takes to develop and maintain the enterprise. This all leads to the fact that spouses spend not enough time together. This situation can lead to the fact that the couple no longer perceives each other as a family, and will treat each other as business partners, which is detrimental to a marriage. To avoid this, it is necessary to devote time for joint rest and pastime.
Is Divorce Inevitable? Save Or Even Increase the Capital of Your Company in Such a Situation
The real value of the business does not always coincide with the cost of capital, which is specified in the documents. Factors such as determine the market value
A kind of activity of the company (a product type which is made, or the sphere of the rendered services);
Availability and number of company assets;
Company attributes (fame, logo, reviews, demand for products or services)
All these factors affect the price of the enterprise in one way or another. To find out a more accurate value of the business, the spouse needs to contact the court accountant, who is a specialist in the assessment of this kind.
In a divorcement with a division of the business, such an assessment is carried out on general, standard conditions. After which, the spouses must be determined with the way to divide the named amount. A business section on public grounds can take place in several ways.
The first option is to transfer half of the assets to the spouse. This option is relevant for spouses who are parting in a non-conflict way and can conduct business together.
The second option is to pay an amount equal to the value of that part of the capital, which is laid to the spouse after the divorce. This option is beneficial for spouses who do not want to continue to contact in the future. To save and cause less harm to the company, the spouse who keeps the company for oneself can turn to an expert who can evaluate the capital of the company at the lowest possible cost.
The third option is to preserve the business in its sole possession fully. However, this option is possible only if the company belonged to one of the spouses before the marriage, and during the cohabitation, the second spouse had nothing to do with this business, and all contributions to the development of the project were made only by one spouse personally. Saving a company is also possible in the case of spouse misconduct, as a result of which the couple came to a divorce. This may be adultery, domestic violence, or the conviction of a spouse for misconduct.
How to Get a Part of the Business If the Official Owner Is the One Spouse?
Quite often, the couple draws up the company on only one of the spouses. While family life and mutual understanding are lasting between partners, it seems that everything is fine and you don’t have to worry. However, at the moment when the marriage collapses, and the family is preparing the documents for divorcement, the dishonest spouse wants to avoid the separation of the business and keep his/her right as the owner. This state of affairs is not surprising, because the division of activity leads to substantial losses and costs.
Many spouses go to the tricks to maintain their sole proprietorship. However, when the second spouse also put a lot of effort and money into the development of the typical case, this path becomes unpleasant and dishonest concerning the partner. To prevent fraud, and such an uncomfortable situation, a partner and a spouse whose name is not in the articles of association of an enterprise should be well prepared to be able to defend own rights in court during the divorcement proceedings.
How can you do that? First of all, the spouse needs to make copies of documents and checks, which will testify to his or her contribution to the joint business in one or another way. It may be concluded contracts, assistance rendered or services to customers of the enterprise, copies of checks with contributions to the standard case. All the necessary documents are best done before the moment of publicity about the divorcement and before applying for a divorce.
This is because after the spouse hears about the desire to divorce, he/she may attempt to destroy the documents that connect the second spouse with the business. Such a situation will not allow the judge to look at the general location and make the right decision.
Marriage is both a beautiful and challenging period. Exactly, like a business, it requires great dedication and investment. And when the spouses combine their life and are running a traditional market, the task of keeping everything under control becomes much more complicated. Key aspects to consider in such situations are mutual understanding and support.
Do not forget about the main thing and remember that we have the chance to live only one life that we need to enjoy, and not to conduct internecine fighting.