Conflict within a small business is stressful and difficult, as it is within a family. These stressors combine when a dispute arises within a family-run business. Add in a divorce and the tension can rise to a fever pitch.
There's a saying--or maybe it was a bumper sticker--that read, "He who dies with the most toys wins." Clearly, it was meant to be funny, but it was also sarcastic and a reminder that in the end, the pursuit of winning doesn't change how we all end up. Divorce is like that too. Divorce isn't about winning.
January is notorious for a spike in divorce filings. Law firms often report two to three times as many contacts about divorce during this month than any other time of year. Couples point to waiting for one last holiday season before filing, or to the stress of the holidays themselves giving rise to the final push toward divorce.
The term family business can bring to mind an archetypal image of a successful enterprise, run by multiple generations of kindred, that is passed down through the family. Take care to walk the fine line between what is best for your organization and what is best for family members.
You have an idea for a business, some start-up money and a solid business plan. But you’re not finished yet: you need to choose the best formation for your business based on your goals, resources and vision for the future. The business formation you choose will have concrete management, tax and liability consequences, so it’s important to protect yourself and choose wisely. While it’s best to consult an experienced business law attorney before making any final decisions, it can help to have an overview of how various business formations differ so you know which one might be best for you.
If you are going through a divorce or separation from your child’s other parent, child support is probably something you’ve thought about. Child support can play an important role in ensuring your child is well-cared for. It can also play a role in your financial stability.