Divorce and my business :Protecting Your Small Business During Divorce
Divorce and my business are the number one questions that we often get asked. What happens, and how can we manage the damage when going through a divorce?
We are here to help, as divorce can be hard, emotional and full of financial traps. When your ex-partner is also tied into your small business, the financial and emotional toll can be overwhelming.
At Gartly Advisory, we understand that the end of a relationship isn’t just personal—it’s business. And it’s where you may have questions on how divorce and my business will end up.
Whether your partner was a co-owner, silent investor, or actively involved in the day-to-day operations, separation can trigger a perfect storm of emotional stress and financial complexity.
That’s where we come in.
When Love and Business Collide in the divorce battle – so what happens in a divorce
Running a business with your spouse might start out feeling like a dream team. You share the highs and lows, the wins, the ideas. But when the relationship ends, it’s no longer about who’s picking up the kids—it’s about who owns what, who’s liable, and whether your business will survive the fallout. Divorce and my business became a significant issue, especially when one partner’s primary need is for future income sources.
We’ve helped many clients navigate situations like:
- A partner who controls the Xero file and won’t let the other one in
- Joint personal and business spending through a single bank account.
- Customer relationships that are tied more to your ex than to you.
It’s not just a breakup—it’s a financial strategy that requires careful planning. And you don’t have to face it alone.
Why Gartly Advisory Should Be Your First Call
As soon as cracks begin to show in your relationship, talk to us. We’re not just accountants—we’re your financial advocate, divorce accountants, and business support during difficult transitions.
We act as a forensic accountant, which allows us to use various accounting measures to investigate the financial aspects of your matrimonial accounts, your business and then allows you to comprehend where the money’s been spent or taken from.
At Gartly Advisory, we can help you discuss divorce and its implications for your business.
- Clarify your business exposure: Who really owns what? Are shares, roles, or obligations correctly documented?
- Protect your cash flow: Monitor transactions, prevent unauthorised withdrawals, and stop personal spending from draining the business.
- Maintain separate personal and business finances: Having clean, reliable records is critical in court proceedings and for long-term financial stability.
- Prepare legal-grade financial documentation: We ensure your business financials are court-ready, accurate, and defensible.
- Facilitate independent valuations: So your ex’s guesswork doesn’t dictate what the business is worth.
Once a divorce has taken place, if you have control of the business, it needs to be restored to its pre-event state. Our role is to assist you so you can move forward and recover profitability and normality.
If we’ve been serving both of you, we’ll guide you on the next steps and, where necessary, refer you to an independent adviser to avoid conflicts of interest. Our goal is to ensure you have the clarity, support, and facts you need to move forward.
Divorce Makes Your Business a Legal Battleground
If you’re a small business owner, your business is more than a source of income—it’s your legacy.
Unfortunately, under Australian family law, it may also be considered part of the marital asset pool, even if you started it before the relationship began.
This means the courts could:
- Order a business split.
- Force a share transfer or payout.
- Even require a full or partial sale.
Gartly Advisory helps you fight back—with facts and strategy:
- 📊 Business Valuation Support: We collaborate with trusted valuers to obtain a fair and objective market valuation.
- 📉 Cash Flow Forecasting: Can you afford to buy out your ex? What’s the impact on staff, suppliers, and your tax obligations?
- 🧩 Restructure and Strategy Advice: Should you change your structure, protect assets via trusts, or set up a new entity? We help you make the best move, not just the fastest one.
Emotional Sabotage? We’ve Seen It All
Divorce can bring out the worst in people—even those you once trusted implicitly.
We’ve helped clients deal with:
- Deleted databases.
- “Convenient” drops in sales leading up to the separation.
- Gifting of assets to friends or family.
- Business credit cards are used for revenge spending.
At Gartly Advisory, we know what to look for—and how to protect you. We offer forensic reviews, transaction monitoring, and secure backup strategies to ensure your business isn’t collateral damage.
Rebuilding with Gartly: One BAS at a Time
When the dust settles, it’s time to rebuild—not just your personal life, but your business.
At Gartly Advisory, we support you every step of the way. Our post-divorce services include:
- Setting up new financial systems and roles, primarily if your ex previously handled them.
- Introducing clean, automated reporting tools that help you stay on top of your cash flow.
- Helping you build a new business plan, focused on your vision and future.
- Being your sounding board through the next phase—calm, clear, and always on your side.
You might feel bruised, betrayed, or burned out—but your business doesn’t have to.
Divorce and your small business – it can be the Start of a new financial start.
At Gartly Advisory, we’ve seen clients emerge from divorce with a renewed sense of purpose.
Sometimes, losing the wrong partner helps you rediscover why you started the business in the first place.
We help you ask the tough but necessary questions to rebuild the business for the next chapter.
Let’s take the time to ensure the business model is working effectively, including the tax structure, with you to discuss what you would like your business to become now that you’re in control.
As divorce and forensic accountants, we understand the complexities of divorce and how it affects your business—and we know how to help you navigate through it.
Don’t let divorce take your business down with it.
📞 We can help you get through the breakup—stronger, sharper, and in control of your financial future. Contact us for an appointment and confidential discussion
