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How to divorce a husband and keep a business

Female entrepreneurs who have built successful brands by establishing business enterprises often stay in loveless marriages out of fear that a split will cause them to lose the business.

However, with some foresight, this can be avoided, and here's how.

-- Plan ahead. Use due diligence to discover all of your assets and your bottom line. Organize all the details of your business to present the information coherently to your family law attorney.

-- Know what your end game will be. If you intend to continue running your business post-divorce, crunch the numbers and make sure it is feasible without the financial (or other) participation of your spouse. Decide what you will be willing to negotiate on and where your line in the sand is drawn.

-- If you are the sole owner of your business, your spouse is not automatically entitled to half. Though this area can be murky, it is important to understand your rights in the matter and where you stand legally.

-- Divorces don't have to be nasty. It is perfectly possible to divorce and remain friends, although some couples find that this is likelier to occur after some time has passed after the split. Try to remember that this is a person whom you once loved and act accordingly.

-- Don't beat a dead horse. Knowing when it is time to move on is classy and allows you to focus on the positives in your future.

-- Consider choosing a new advisory team when you divorce. If you and your spouse shared tax preparers, attorneys and accountants, it might be the wisest course to start fresh with a clean slate so that no lingering loyalties affect any decisions.

-- Know your spouse's position on important matters. Understanding that he will be approaching matters from an adversarial position is key here. If you have an idea on what he will seek, you are ahead of the game.

Making the decision to divorce is never easy, and entrepreneurs are wise to consider all far-reaching consequences. Make sure that the legal advice you receive takes your business interests into consideration as well.

Source: 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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