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Business owners: What you need to know about divorce

Divorce is a very big step and should never be done on a whim. It's important to be as informed as possible going into the process and to understand how the Florida laws may affect your particular situation. This is especially true for business owners. Even if you are the sole proprietor of your business, it may be possible for the income and assets to be treated as part of the marital property.

The first step to going through a divorce and keeping your business intact is to get as much information as possible. Talking with a family law attorney who deals with these kinds of cases can help you understand what the likely outcome of your case may be and any options you may have. It's also best to prepare for a variety of possible outcomes, from best case to worst case scenario.

It's also important to get all of your paperwork in order as early on in the process as possible. Give a copy to your lawyer and always carry a copy with you when you go to court to ensure you are prepared to verify any numbers or events.

Once you have your information, you are ready to form a plan. It may help to think of this process as a selling a piece of the company. This can help you take a more detached, business-oriented mindset to the issue and keep the emotions of the divorce from impacting your decisions. Keep your end goal in mind, but remember to be flexible and ready to adjust as necessary as your proceed through the courts.

Source: The Huffington Post, "8 Steps to Divorcing Your Husband Without Losing Your Business: Divorce Advice for Women Entrepreneurs," Emma Heptonstall, Nov. 03, 2015

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