Seattle’s Eastside Business Journal references the hidden cost divorce can have on a business, often the foundation for both the owner’s, the former spouse’s and the children’s quality of life.
Karin Quirk writes (excerpt):
When the business owner is the person involved in the divorce process the consequences on the business can be even more dramatic, if not devastating. If the business owner is distracted, the business suffers. The legal discovery process can be as distressing as a tax audit with even greater economic consequences. A small business may also be destroyed by the need to liquidate assets to affect the community property division.
It is in a business owner’s interest to know a divorce attorney sensitive to the affect of divorce on business. An attorney who explores alternatives to the adversarial process and works with the parties on reasonable resolution that allows them to get on with their lives with the least emotional trauma and economic loss.
When parents are involved in acrimonious custody battles, not only do the children suffer, but the parties often go to court year after year trying to modify the original plan, often spending hundreds of dollars. In collaborative law the parents provide a method for adjusting the plan for changes in circumstances, thus reducing emotional trauma as well as costs.
Perhaps the most appealing aspect of the collaborative divorce to business persons is the privacy this model provides. The financials and all the negotiations remain private. No public record is created which provides embarrassing or misleading details. The final agreement remains private.