If you and your spouse own a Rhode Island medical practice together, you will need to take some extra steps to make sure that the divorce goes as smoothly as possible. Trying to split up a business can be difficult, but you can do it if you’re both willing to work together.
Evaluate the business
When it comes to evaluating the business, you will need to take a few different things into account. This includes figuring out what the business is worth, how much each person owns, and what debts are associated with the business. Understanding all of this will help you to determine how to best move forward with the divorce.
Create a separation agreement
If you and your spouse are able to come to an agreement about the business, you will need to create a separation agreement. This document will outline everything that you have agreed upon, including who gets what share of the business. It is important to have this agreement in writing so that there is no confusion later on.
Keep communication open
It is important that you and your spouse keep communication open throughout the entire process, especially if you’re considering selling the business. You will need to be on the same page in order to make sure that everything goes smoothly. This means being respectful and honest with each other about what you both want. You may need to come up with a plan for how you will communicate, such as setting up regular meetings or using a mediator.
Consider getting help from a mediator
If you and your spouse are having trouble agreeing on the terms of the divorce, you may want to consider getting help from a mediator. A mediator is a neutral third party who can help you come to an agreement. This can be a helpful option if you’re having trouble communicating with each other.
Whether you want to keep the business or sell it, you will need to take these important steps in order to make sure that the divorce goes smoothly.
