Divorce And Your Money - #1 Divorce Podcast

This episode will cover the options you have if you own a business with your soon-to-be ex-spouse. Under normal circumstances, businesses are very complicated. When you are getting divorced, it is even harder. Because this is such a complicated topic, this episode will not be able to go in-depth, but we will cover the options that you have for dealing with your business in a divorce:   One spouse buys out the other. Both spouses continue to work in the business together. Walk away from the business entirely.   This is one of the most common options in the divorce world. One person retains ownership in the business, and the other no longer has any ownership, but they receive money for the value of their share. For example, let’s say you and your spouse co-own a gym, and your spouse wants to buy you out. How will that work? In a perfect world, you know the value of the gym, and you know the value of your shares. If the gym is worth $100,000, and you own half, your spouse will write you a check for $50,000. Wh