The Future Of Your Business After A Divorce
If you are going through or considering a divorce, you are probably contemplating the fate of your company. At Law Office of Randy Mora, PLLC, we know how difficult decisions about your company can be, and we do not want you to make them alone. As a firm with countless former clients who own businesses, we are well-versed in what should be considered before making these calls.
Whether you own the business alone or with your spouse, ask yourself these questions before hanging on to or letting go of your company post-divorce:
Can I Maintain A Working Relationship With My Ex?
If you co-own the business with your ex, you will need to decide if you can leave your emotions at home and interact as business partners. If you cannot maintain an amicable and professional relationship, the company will inevitably suffer.
Can I Afford To Run The Business?
Even if you co-own the business with your ex, you must ensure that you can afford to keep it afloat on your end. If you must pay spousal support and child support, will you have enough money saved up if sales stagnate? Can you afford to pay rent, taxes, salaries, insurance and other business-related expenses? If you answered no, it may not be in your best interests to hold onto the company and risk its financial demise.
What Is The Next Step In My Career?
If you do plan on selling the business, you should have an idea in mind of what your next career move will be. You must ask yourself how much change you are willing to handle. After splitting from your spouse, leaving the family home and sharing custody, a dramatic career shift may be too much to sort through all at once.
Seek Legal Advice To Discuss What Is At Stake
It is our number one goal to protect your business, finances, family and rights. Law Office of Randy Mora, PLLC will provide you with personalized advice to decide if keeping your business after a divorce is right for you.
Schedule a consultation with Texas’ go-to family lawyer for business professionals by calling 210-446-0306 or sending us a message online. We practice in the south central region of Texas with office located in San Antonio.