Are disagreements on fundamental decisions creating a rift between you and your business partner or spouse? Is a partner not carrying their weight? In a marriage or business relationship, an unbalanced share of responsibilities often leaves one partner with more of the stress. The holiday season allows each of us to reflect on the past, while we work in the present to plan for an unknown future. If you’re considering a change in your business or your marriage, the Skufca Law Business and Family Law Attorneys are here to provide you with expert advice on how to approach a split and how to avoid costly and permanent mistakes.
A courtroom trial is not the only, or typical, way to split a business or marriage partnership. Many partners attempt to negotiate a settlement through alternative dispute resolution (“ADR”), such as mediation or arbitration, even when they are actively litigating a case through the traditional court system. Clients prefer resolving a split using ADR methods because the proceedings are usually confidential, less formal, less expensive, less time-consuming and less stressful than a traditional trial.
For business break-ups, the Operating Agreement or Shareholders’ Agreement that formed your business partnership usually contain specific procedures for how to remove business partners, including the use of mediation and/or arbitration. Without detailed business formation documents, certain default statutory rules may direct how the split must occur. We routinely counsel clients on creative solutions to resolving shareholder and partnership disputes.
Separating spouses can decide to resolve their marital separation claims through use of mediation, arbitration, collaborative law, or court hearings, but decisions on which path to take must be made promptly or certain options may be lost. Before proceeding with a divorce, you should know how the separation will affect custody of your children, whether you or your spouse should leave the house, and whether you will need to pay support or can expect to receive financial support from your ex-spouse.
If you need advice on which options are available and right for you to best protect your assets, your business or your family, please contact the team of attorneys at Skufca Law at 704-376-3030.