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Divorce: What Happens to My Small Business?

You have worked hard to build your small business in Tampa Bay or Greater Sarasota.  Your dreams and future are intertwined with your company.  But, now, you are facing divorce, and you are worried about how this will affect your small business.  You know there are quite a few issues that you will have to deal with.  Child custody, division of property and debts, and child and spousal support all need to be addressed.

Small Business and Collaborative Divorce

Small Business & Collaborative Divorce

But what happens to your small business?

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Cordover Provides Continuing Education at Tampa Accounting Firm

Florida’s Department of Business & Professional Regulation Division of Certified Public Accounting requires CPAs to complete a certain amount of continuing education units to remain licensed.

On May 3, 2016, Family Diplomacy managing attorney Adam B. Cordover, alongside collaborative professionals Sonya Johnson and Monica Epstein, provided continuing education units for the accountants of Cohen & Grieb, P.A.  Cordover, Johnson, and Epstein gave a workshop on “Collaborative Family Law: The Smart Alternative to Courtroom Divorce.”

The workshop, held during National Small Business Week, focused on the effects that divorce can have on small businesses, and how collaborative family law can help ameliorate those effects.

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Florida Collaborative Divorce: A Flowchart

Many people come to my Tampa office because they heard collaborative divorce is private, respectful, conducive to co-parenting, and usually quicker than the traditional courtroom divorce.  But they do not quite understand logistically how the collaborative process works.

The first thing to understand is that each party is represented by his or her own attorney whose sole purpose is to help the parties reach a settlement.  The attorneys are contractually barred from engaging in costly, damaging contested court battles.  If parties want to fight one another in the court system, they must choose different litigation attorneys.

A neutral facilitator, who usually is licensed in a mental health profession, is involved in most collaborative cases.  The facilitator not only helps the parties (and attorneys) focus on the future rather than rehash the arguments of the past, but he or she also teaches the parties communication and dispute resolution techniques that will help them and their families long after the divorce is finalized.

A neutral financial professional is also oftentimes used to efficiently ensure financial transparency between the parties, to develop personally-tailored options for support and the division of assets and debts, and to help the clients budget to give them the best chance for financial security once their divorce is finalized.

Some folks are visual learners, and so my firm has created a flowchart that shows how a collaborative case might proceed.  Please understand that, depending on the facts of your case and the needs of your family, your collaborative divorce process may be customized differently:

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Collaborative Divorce Video: A True Life Story Part 2

Just as more divorcing spouses in Tampa are seeking an alternative to the usual courtroom battles, the use of the collaborative family law process is growing around the country.  Collaborative Practice California has produced a video which follows an actual couple going through a collaborative divorce.

I previously posted Part 1 of the video.  After the jump, Part 2 of the video shows how the couple handles difficult emotional and financial issues in the collaborative process:

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