Kelly Byrnes & Danker, PLLC

Divorce stress can impact performance of executives and owners

Business owners and members of upper management in Virginia often have a lot at stake when they negotiate their divorces. Decisions about the division of real estate, retirement accounts and business assets often involve tension or outright disputes. The possibility of paying child or spousal support could add to their concerns. The stress could spill over into workplace performance, or the divorce could alter the ownership of a company.

People who hold stock in their companies might succeed in retaining a controlling interest by offer former spouses other marital assets. The distraction of negotiating the transfer of valuable assets, however, could alter the workplace performance of CEOs and owners. A researcher from Stanford's Graduate School of Business found that people in this situation might struggle to concentrate at work. Their productivity might plunge. If stock is lost during a divorce, influence over business decisions and strategy could erode.

Although problems are possible, people can combat the distraction of a divorce by acknowledging the emotional nature of the situation. They should temper their feelings with a willingness to compromise and focus on financial priorities during negotiations. A conscious effort to be practical could spare someone a prolonged court battle.

During a high-asset divorce, a person might gain some predictability if a prenuptial or postnuptial agreement was executed. These contracts, however, are not immune to legal challenges. The advice of an attorney might help someone know what to expect when responding to challenges or initiating negotiations. The lawyer might strive to defend a person's position during discussions with the other party. If litigation becomes necessary to pursue an equitable settlement, then an attorney may present evidence that supports the person's rights to certain shares of property. Legal support might also encourage reasonable decisions about child support or alimony.

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Kelly Byrnes & Danker, PLLC

Kelly Byrnes & Danker, PLLC

3975 Fair Ridge Drive
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Fairfax, VA 22033

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