{"id":832,"date":"2015-07-10T14:37:55","date_gmt":"2015-07-10T07:37:55","guid":{"rendered":"http:\/\/library.uc.ac.id\/?p=832"},"modified":"2025-05-01T12:19:41","modified_gmt":"2025-05-01T05:19:41","slug":"split-decisions-entrepreneur","status":"publish","type":"post","link":"https:\/\/www.ciputra.ac.id\/library\/split-decisions-entrepreneur\/","title":{"rendered":"Split Decisions Entrepreneur"},"content":{"rendered":"

\"Split-Decisions.Entrepreneur-eds-Mei.2015.pg-70-71\"<\/a><\/p>\n

How to protect your company from your partner\u2019s divorce<\/strong><\/p>\n

By Steph Wagner<\/strong><\/p>\n

Before you formed your business partnership, did you vet your partners\u2019 marriages along with their bank statements? You may not consider it until divorce proceedings are underway, but your partners\u2019 spouses likely own a part of your company, whether you want them to or not.<\/p>\n

In my day job as a financial strategist specializing in complicated (and often highly contentious) divorces, I rarely see a case where the day-to-day operations, valuation and ownership structure of a business is not affected in some way by a breakup. If your partner\u2019s soon \u2013 to \u2013 be ex receives a part of the business in the divorce settlement, you\u2019ll gain a new, unwelcome partner who now has a voice in how your business operates and, by extension, can impact your own net worth.<\/p>\n

Michael Lees, a business attorney and partner at Solomon Ward Seidenwurm & Smith in San Diego, recommends including a contingency for divorce in your company\u2019s setup. \u201cStart with a well \u2013 drafted partnership, ownership or shareholder agreement that requires a partner\u2019s spouse to sell his or her awarded interest back to the company (or to its co-owners) in the event of divorce,\u201d he says. \u201cThis buy-sell provision should contain acomprehensive list of terms and conditions, including the method by which shares will be valued, the transaction timeline and the source of funds to be used for purchase, such as cash on hand, an existing line of credit and\/or a loan.\u201d<\/p>\n

To ensure that the \u201cright to purchase\u201d can be upheld in family court, it is worthwhile \u2013 and often essential \u2013 to have all non-partner spouses consent in writing to all aspects of the agreement long before any marital dispute arises, according to Lees. In the event a buy-back is not pssible, this agreement can limit an ex\u2019s voting rights and\/or management participation.<\/p>\n

Even with such arrangements in place, John Ovrum, CEO of Coronado, Calif.-based Exit Consulting Group, regularly sees divorces play havoc on operations. \u201cIf one partner has to step away from the day \u2013 to \u2013 day operations to tend to his or her divorce, the balance is thrown off,\u201d he says. \u201cResources are spread thin, resentment increases very quickly, and the partnership begins to look more like a sole proprietorship. The impact on cash flow can be dramatic and devastating.\u201d<\/p>\n

Ovrom\u2019s advice is to plan for the worst. Divorce, illness, disability or the death of a loved one will affect your partner\u2019s abilty to contribute to the business. \u201cYou need to set up a legally binding plan that addresses how to handle these challenges,\u201d he says. \u201cOne that answers some basic questions, such as how long one partner can step away from the company before his or her compensation drops. Who will assume his or her daily duties? If a loan or pay advance is needed to cover skyrocketing legal bills, what are reasonable terms?\u201d<\/p>\n

These are tough queries, but it\u2019s better to ask them now than in the middle of a messy divorce. Handled correctly, every partner, including you, should come away with a greater sense of trust in one another to do the right thing to preserve the company \u2013 even when someone\u2019s personal life is going down the drain.<\/p>\n

STEPH WAGNER IS A PRIVATE EQUITY INVESTOR AND A FINANCIAL STRATEGIST FOCUSED ON GUIDING WOMEN TO FINANCIAL INDEPENDENCE. @STEPHLWAGNER<\/p>\n

 <\/p>\n

Sumber:\u00a0Entrepreneur-eds-Mei.2015.pg-70-71<\/p>\n","protected":false},"excerpt":{"rendered":"

How to protect your company from your partner\u2019s divorce By Steph Wagner Before you formed your business partnership, did you vet your partners\u2019 marriages along with their bank statements? 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