More Tips for Business Owners Contracting Into, During and Out of a Relationship
When entrepreneurs and small business owners are transitioning their personal relationships such as cohabiting or separating is to learn about their right to secure their wealth and prepare for an orderly distribution if that relationship doesn’t succeed. Another time of transition requiring a good look at securing wealth is upon the transfer of an inheritance.
Domestic contracts will be respected by the courts if the terms are reasonable, unambiguous and meet the legislated formal requirements, among other requisite considerations. Here are few to consider. This is a companion blog to Tips for Business Owners Contracting Into, During, and Out of a Relationship
- Emotions Need Attention, too: Divorce can be a wickedly difficult surprise to face especially when you didn’t see it coming. So can being asked to sign a prenup agreement 10 days before a wedding. Your strength is in seeking a counsellor or therapist to help you understand how those emotions can hijack your logical mind, to help you grieve or to heal at your pace as you need.
- No Idea is Off the Table: In the collaborative process, you’ll be invited to present your best options for resolution at the negotiation table. You won’t find that level of interest in your ideas in front of a judge at court. From randomness comes clarity and new ideas worth investing more time.
- Keep the Children Out of the Conversation: Children very likely know what’s happening at home. They are not part of the conversation between the spouses and are not the decision makers. Continue to love them, support them and guide them. And do your negotiations outside the family home.
- Reducing the fears: Letting your mind wander into unknown territory generates fears. Get all the facts first before you commence negotiations on support, property division, and the children’s best interests. Stay grounded by acknowledging what has been accomplished: a reorganization schedule, a succession strategy or the parenting plan is empowering and calming.
- Ask questions – they’re all valid: It’s all new. There are always surprises and the chance roadblock to deal with. Ask as many questions of your lawyer and advisors until you are satisfied. And allow them to ask you for information to help them give you the best advice they can.
- For business owners to learn more about the Collaborative Approach and Mediation relating to your unique circumstances please contact Lorisa Stein directly