Do I have to file for divorce – or are there other options?

Here are the top valuation issues every business owner should know before you file for divorce.

One question people will ask is

9. Do I have to file for divorce – or are there other options?

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I'm sure you're thinking at this point that the divorce process does not seem as simple as you originally thought, and typically if it involves a business valuation and or more complicated financial issues , then you could be correct. There are other options to getting divorced depending upon your situation , your relationship with your spouse , your communication history with your spouse , or even depending upon your financial situation.

There are times when the couple has drifted apart over time and are making a decision to separate permanently, and mediation or the collaborative divorce process could be beneficial. Most of the time a business owner may want to have a little bit more control over the process and can achieve a reasonable resolution with a mediator or collaborative divorce professional – you just need someone who has all of those skills. Sometimes it is helpful to work with someone who understands the complexities of your divorce, and can translate the issues to your spouse.

When one person is not involved in the business, there could be a learning curve in understanding how it is valued. At a minimum – have a meeting or conversation with a valuation expert, do you think they could help your spouse to understand the issues or would they just be more confused? One thing to keep in mind, no matter what process you utilize to come to agreement on all the financial issues, you will still typically need a lawyer to file the divorce papers in the end.

So, I am considering filing for divorce, but want to be prepared - What should I do next?

Give us a call! No really, you should reach out to someone who specializes in valuations for the purpose of divorce. There may be many valuation companies near you, but do they understand the divorce court system in your state? That would be a good first question to ask. Then see how many times they have testified. Are they trained as a mediator? Do they understand how to negotiate settlements with other experts?

If you have any additional questions or would like to talk about your specific situation, please give us a call or text us at 314 541 8163 or check out our website at http://www.ValuationStLouis.com

Click here to view our entire series for business owners + divorce.