Divorce and the Small Business Owner?  This Can Be A Win-Win Situation

On Forbes.com, Elizabeth Reingold wrote of a 25 year marriage ending between a couple who owned their own business.  The value of this company would have a major impact on the final divorce settlement.  At the time the couple decided divorce was a certainty, however, the business was not doing as well as it had in the past. 

The solution?  The couple entered into a collaborative divorce process and agreed to a financial specialist.  At the recommendation of a financial specialist, the wife remained a silent shareholder.  The present financial analysis and future financial projection of the business’ performance suggested it would turn around.  Trusting the financial specialists work, the wife opted for shares in the business rather than support alimony, believing that through the divorce process the business would turn around.  And it did.  Both spouses were satisfied with the outcome.

If they had litigated their divorce, the husband would have likely paid alimony and the wife’s income would have been low.  Instead, the company continues to grow and the wife receives dividends from a growing company and thus, a larger income.

In Tulsa, couples who face divorce have the option to use a financial specialist.  For small business owners in Tulsa, the collaborative divorce process is the best option.  It’s especially favorable if financial specialists are used.  It is important that you understand the financial implications of all settlement options.  When you use a financial specialist you can make settlement decisions based on information analysis and projections they provide.

What can a Tulsa business owner using the collaborative divorce process expect from the financial specialist?  When a business is involved the financial specialist will interview clients and sometimes they will interview employees.  They will look at organizational structures and evaluate the company’s fair market value.  Even when there is not a business at stake, the financial specialist will use the couple’s mutual assumptions to provide financial projections both short and long term.  They will then explain the estimated effect of each settlement option.  This is especially important when considering your financial future and future lifestyle.

Couples in Tulsa who use financial specialists in their collaborative divorce process will be educated.  Often, one of the parties will know nothing about the business finances when the process begins.  The roll of the financial specialist is to educate both parties so that they can make better settlement choices. 

Settling your divorce outside of court could cost a Tulsa couple 1/3 less than the litigated divorce.  Saving money, saving the business, a settlement in the best interest of both parties, these are all things a financial specialist will attempt to achieve for you.  All things considered, the collaborative divorce with financial specialists can be a win-win situation for business owners in Tulsa contemplating divorce.