Divorce is difficult, no matter what. When the divorce can affect the survival of a family business, it can be even more emotional. Nearly 40% of first marriages end in divorce and 60% of second marriages end in divorce. When we consider that small family businesses make up 80-90% of all businesses in America, the repercussions are enormous.
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Although divorce has always been a concern, it has become much more commonplace in the last 50 years. Divorce rates have skyrocketed in both first and second marriages. Today, nearly 40-50% of first marriages end in divorce and 60% of second marriages end in divorce.
While divorce is not a cheerful topic or a happy time in a couple’s life, it is a reality for millions of Americans who divorce or who are considering calling it quits with their spouse. The struggles are the same for everyone between who was right, who was wrong, who gets the kids on the weekend, the house or the dog. Divorce is difficult, but understanding the do’s and don’ts and how to start the divorce process is crucial for ensuring a smooth, healthy transition from marriage to divorce.