Ciancio Ciancio Brown, P.C.
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Denver (303) 395-4773 Broomfield (303) 872-8919

Breckenridge (970) 285-3077 Toll-Free (800) 746-3560

Denver (303) 395-4773 Toll-Free (800) 746-3560

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Will your divorce cost you your company?

If you are a female entrepreneur who owns her own business, you probably have successfully passed many hurdles to your success. But one particular obstacle may have you worried about the viability of your business -- divorce.

No one should feel forced to remain in a bad marriage in order to preserve their business ownership. Yet, your business could indeed be at risk for division in a property settlement. What can you do? Read on for some concrete suggestions to put into place to protect your business interests.

Plan ahead before initiating any divorce actions

Before you started your business, you had a business plan. Therefore, before initiating or responding to any divorce litigation, you need to devise a divorce plan.

That begins with assessing and identifying your business assets. Crunch the numbers and make sure that all your business documents are current and in order, as they may come under increased scrutiny in the weeks to come.

Decide on the outcome you want

It's quite likely that you will decide to fight for full ownership of your business. After all, it's your bread and butter and you will need an income starting over as a single woman. You must remain open to negotiations. You could be faced with some tough choices: Your business versus your interest in the family home or retirement pensions, for instance.

Assess your spouse's role in the business

If your spouse was a working partner in the business, his stake will be larger than if he had only a small or non-existent role in its operations. Take stock now so that you will be ready when it's time to negotiate during the property settlement phase of the divorce.

Consider your options

Could you buy out your spouse's interest in your business? Continue operating it together post-divorce? Some couples actually are able to make that work. You could also take on a business partner who could provide the capital to buy your spouse out and keep the business viable.

Don't go it alone

If your very livelihood hangs in the balance, you should never try to negotiate your divorce on your own. You need to follow the advice of your Colorado family law attorney to protect your company and personal interests in the divorce.

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Broomfield Office
390 Interlocken Crescent
Suite 350
Broomfield, CO 80021

Toll Free: 800-746-3560
Phone: 303-872-8919
Fax: 303-464-8000
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Denver Office
1660 Lincoln Street
Suite 2000
Denver, CO 80264

Toll Free: 800-746-3560
Phone: 303-395-4773
Denver Law Office Map

Breckenridge Office
106 North French Street
Suite 230
Breckenridge, CO 80424

Toll Free: 800-746-3560
Phone: 970-285-3077
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