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Is it possible for ex-spouses to still work together?

We've previously written blogs related to how shared children forever bond and can cause ongoing conflict between divorced parents. Much like children, a shared stake in a business or company may also prove to be challenging for ex-spouses. While it may seem unlikely, in some cases, it is possible for ex-spouses to set aside personal differences and remain successful business partners.

One woman, who is the CEO of a successful company and continues to work along her COO ex-husband, recently shared some advice and her perspective on how to ensure a divorce doesn't ruin a good business relationship. One of the most important tips she provides is to create separation between personal and professional matters. However, while this advice makes sense, separating the personal from the professional is only possible with a clear plan and a strong support team.

Divorce can be especially challenging for ex-spouses who work together. In order to allow both individuals space to think, reflect and heal; when possible, it's advisable that one or both exes take a break from work. Time apart as well as away from work can provide a newly divorced individual the time and distance necessary to sort out personal and emotional issues that may otherwise interfere with and cause conflict at work.

While taking a break is important, it's also advisable that business partners and colleagues seek professional advice and help. In addition to potential legal and financial matters that may arise in the wake of a divorce, both ex-spouses may also benefit from counseling. Talking about personal matters outside of work may prevent such matters from interfering with one's professional life.

Sometimes, despite all best attempts, ex-spouses who are business partners may decide to part ways professionally. In such cases, it's wise to have a plan with regard to how a company will be divided or how one or both ex-spouses plan to leave or continue on with a company. This is especially true in high asset divorces where exes hold executive positions.

Source: Entrepreneur, "If You Run a Company Together, What Happens When You Divorce?," Kate Taylor, Feb. 25, 2014

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