By Jacqueline A. Leary (Botchman) (co-written by Gena B. Lavallee)
As published in NH Bar News (November 2019)
The end of marriage can spell the end of a married couple’s business relationship.
In family businesses, particularly those owned and operated by married couples, boundaries are often blurred between the affairs of the family and the management and ownership of the business. The finances of the family and those of the business are closely tied. Although familial bonds often lead to great success in businesses, there are challenges associated with the family business structure. Well drafted, protective, contractual provisions can help keep the family business operating and allow management and employees to remain focused on the day-to-day operations of the business, particularly in the midst of an emotionally charged divorce between the owner-operators of a company.
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