Divorce is difficult and emotionally taxing, even when the economy is stable.
Added to the already overwhelming financial stress that some families are already experiencing, it can seem like an insurmountable burden.
Divorce and business downsizing have a lot in common.
In both processes the principals involved must analyze their assets and debts, strengths and weaknesses.
In both processes honest evaluation, flexibility, organization, and planning are essential in order to have a reasonably acceptable outcome.
In both processes there is anxiety, loss, and finally, a new beginning.
The process is made more efficient, perhaps even a little less painful by a willingness to accept personal responsibility, simplify, economize, and ending relationships (whether business or personal) that are no longer working.
Although emotions are likely to be running high, it is always important to step back and take a deep breath.
Having family, friends, and professionals on your side that can be trusted to be honest with you while remaining supportive is important.
Information gathering is essential.
It is never too soon to gather information and look at all of your options.
This is especially important if you have complicating factors such as a family run business, high assets or a complicated financial picture.
Divorces can further be complicated by such factors as immigration issues, a child with a disability, or a non-traditional family structure.
A law firm with the expertise to “cross over” into various areas to assist you with the entire picture can make the process easier to handle.