How can business owners preserve their privacy during a divorce?

On Behalf of | Feb 6, 2024 | High Net Worth Divorce |

Divorce can be a complex and emotionally trying experience for anyone, but for individuals with sizable assets and business interests, the stakes are often higher. Privacy during a divorce is not just a personal preference for business owners in New Jersey; it is a necessity. Divorce proceedings can attract unwanted attention, which can potentially impact client relationships, business negotiations and overall market standing.

Below are strategies to help business owners preserve their privacy while they work through their divorce.

Choose an alternative dispute resolution method

Litigation is a public process, and the details of a court case can often become a matter of public record. To avoid this exposure, consider alternative dispute resolution (ADR) methods. These private and confidential methods often lead to a more amicable settlement. You would also have more control over the outcome of your divorce.

Request to seal records

If your case goes to court, your attorney can file a motion to seal the divorce records. While the decision is at the discretion of the court, if granted, it can prevent sensitive information from becoming publicly accessible.

Engage discreet professionals

Work with attorneys, accountants and other professionals who value discretion and have experience handling high-profile cases. They will know how to manage sensitive situations discreetly.

Keep settlement discussions private

During the negotiation of your divorce settlement, be careful about where and how you discuss the details. Private meeting spaces and secure communication channels are essential to make sure that information does not leak to parties outside of the negotiations.

Educate your inner circle

It would be best to let friends, family, employees and close business associates know and understand the importance of maintaining your privacy. The people closest to you can unintentionally become sources of leaks if you do not make them aware of your privacy needs.

Divorce is never easy, and for business owners in New Jersey, protecting privacy is a significant part of the process. With the right team and appropriate strategies in place, you could keep important matters private even when problems and conflicts arise during the divorce process.