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Do Georgia small businesses suffer when the partners divorce?

According to census statistics, there are well over three million small companies operated by married partners in America, with some likely being located in Georgia. While the marital relationship is healthy, the business most likely prospers. However, when the couple decides that a troubled marriage would be best handled with a divorce, it becomes important to decide what will become of the business.

Most of the time, the business partnership goes the way of the personal relationship. Recently, though, there have been some surprising success stories. One writer has found a few examples where the business not only survived the emotional turmoil, but was successful in spite of the loss of marital stability. One situation involved a husband and wife who had sought a divorce and proceeded down the road of disagreements over assets and other points of contention.

However, some years after their parting, the woman found herself struggling to keep her small company afloat after suffering an injury. She then asked for her former husband and partner's assistance to stabilize their public relations business. He agreed and the firm has thrived. The former couple shared that they are more compatible in business in spite of the failure of their marital partnership.

While there are several other examples of a business outlasting a marriage, the majority of the time, a company becomes an asset to be divided during divorce proceedings. Many former couples found that they were unable to resolve personal issues that interfered with running a company together. Georgia couples who find that they are contemplating filing for a divorce do have legal options available to them. They may be able to successfully work out arrangements for all aspects of their life after the divorce; whether it be child custody, financial assets or even a small business the couple shares.

Source: npr.org, "When Divorce Leads To A Happily Ever After For A Small Business", Yuki Noguchi, April 17, 2014

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