KITCHENER FAMILY LAW LAWYERS WITH 40 YEARS OF EXPERTISE IN REAL ESTATE, BUSINESS AND ESTATE PLANNING AS PART OF THE DIVORCE PROCESS
The social and emotional toll of a separation and divorce can have a significant effect on your business performance. Going through a separation often demands many hours of a person’s time, as you and your spouse will have to work through the details of your separation from valuating your net family property, to resolving issues of custody and access of your children. These stress levels can often have a serious trickle-down effect on employees. These stakes can become even higher when both spouses are partners in the business, especially when a separation usually means the departure of a spouse who may have held a key role in the business. Conflict can arise if a spouse attributes a decline in revenue around the time of the separation to business valuations, based on historical data that may no longer be achievable. If this matter ends up in court, the spouse’s personal and business affairs would become public records. A well managed collaborative family law or mediation process can provide privacy and faster results. The financial disclosure of the parties and the separation agreement reached by the parties remains private.
Are you an executive and business owner who is separating?
For those spouses who are executive and business owners, collaborative family law can be a valuable tool for conflict resolution because it can minimize the impact a divorce can have on their work, their employees, and the business performance. For high net-worth individuals with established businesses, the financial situation for both spouses can be complicated. One of the most challenging situations, in terms of both personal and financial implications is when spouses are also business partners, where the exit of one spouse can have a major impact on operations. In this regard, we suggest that spouses pro-actively prepare themselves upfront though marriage contracts, shareholder agreements, and comprehensive estate planning, in order to protect the business should divorce or death occur. However, there are also other ways to minimize the negative impact on both the individuals involved and their business.
Research from the Canadian Research Institute for the Law and Family (CRILF) indicates that couples who choose to avoid the courts and instead use alternative dispute resolution processes such as collaborative family law and mediation benefit from resolving their dispute quicker and lower with legal fees over the traditional litigation process.
Our Kitchener family law lawyers have the benefit of experience in related areas of family law, and as a result can advise our clients on matters related to the divorce proceeding, such as the rearrangement of complex business holdings, variations to estate planning, and issues affecting real estate.
For over 40 years, clients have trusted in our ability to explain their rights and obligations in a separation or a divorce. We are confident that you will appreciate our professional and personalized service. We invite you to browse our website and read the positive things others have to say about us. To benefit from our knowledge and experience with respect to real estate, business, and estate planning and their effect as part of your separation or divorce, please contact 519-884-0034 or send us an email. Many of our clients are referred to us by former and current clients, as well as by lawyers, accountants, and financial advisors. We serve clients in Kitchener, Waterloo, Cambridge, Guelph and surrounding areas.
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