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The dangers of divorce for entrepreneurs

While New York entrepreneurs may frequently deal with challenges in their businesses, one of the greatest challenges for an entrepreneur could be keeping a marriage going. There are several reasons that being an entrepreneur might not be compatible with a smooth relationship.

Although they are risk-taking personalities themselves, entrepreneurs might marry people who are less risk-oriented. The partner who prefers more stability may have to suffer through the stress of running low on money, dealing with calls from collections and chasing more funding. Another issue with entrepreneurs is time management. Building up a new company takes an enormous amount of time, and it might leave very little time for the entrepreneur to cultivate the marriage as well.

However, recognizing these potential problems is the first step toward solving them. Communication is key, and it must be done in a calm manner. Both people in the marriage need to learn techniques for reducing their own anxiety and stress. They also need to understand their differences and work out a compromise that will leave both of them satisfied without either person trying to fundamentally change the other.

Unfortunately, communication, stress relief and good intentions still might not be enough to prevent a divorce. The couple may simply decide that their lifestyles are not compatible. If they have signed a prenuptial or postnuptial agreement, the process of property division might be fairly straightforward. Without these agreements in place, it could become a lot more complex. For example, the couple may have a significant amount of debt, but it might be largely incurred by the entrepreneur. On the other hand, the entrepreneur may own a company that has considerable value, and the spouse may be owed a part of that value.

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Trotto Law Firm, P.C.
140 Allens Creek, Suite 3
Rochester, NY 14618

Phone: 585-484-9970
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