When one spouse owns a business
Business owners and high net worth clients are encouraged to use Collaborative Practice when they face a separation, according to a Globe and Mail – Business Section article published last week titled, “How to protect your small business from marital breakdown”.
Collaborative Practice is designed to help families preserve their wealth, privacy and a working relationship between the separated spouses. Families that rely on the viability of their family business to pay their bills and to plan for their retirement can get guidance from trained collaborative professionals including both their lawyers and a business valuator or financial planner to create responsible financial and fiscal solutions to the legal issues they face when they separate or divorce.
