While ultimately a personal matter, divorce affects business in time, money, and lost productivity. An employee going through an emotionally troubling time may be less productive, miss work and may involve other employees in the drama. Many business also are concerned about revealing private or sensitive information.
When the business owner is the person involved in the divorce process the consequences on the business can be even more dramatic, if not devastating. If the business owner is distracted, the business suffers. The legal discovery process can be as distressing as a tax audit with even greater economic consequences. A small business may also be destroyed by the need to liquidate assets to affect the community property division. Read more….