Marriage is a Partnership – Legal Counsel for the Business of You

Posted by Betsy Pruitt

The Business of You is made up of the same departments as a traditional company. Simply flipping the script on how you see these departments in your own life can be key to taking your career to the next level. Today, let’s look at the Legal department in the Business of You.

One of the biggest legal decisions many of us will make in life is marriage.  That’s when the Business of You expands from a sole proprietorship to a partnership. And just like the Business of You can have a terrible employee or a great one (that’s you), you can have a great partner (aka your spouse) or an awful one.

Businesses hire an attorney or employ an entire legal department to provide advice on protecting its assets and minimizing liabilities that could limit continued success.  Essentially, the legal department looks out for the business’s best interests.  That’s exactly what a great partner does, too. Spouses should help each other achieve more success than either could accomplish alone. In fact, your personalities and skill sets should compliment each other and combine to form a more well-rounded business.

Sure, you should absolutely marry for love, but if you forget to consider the business side of the marriage equation, you’re in for a lot more than heartache. Here are a few telltale signs that you might not be marrying a good business partner.

• Joint checking account? “NEVER gonna happen.”
  If you don’t trust your potential spouse enough to share a checking account together (or vice versa), you’ve got more than accounting issue.  Don’t kid yourself into thinking, “It will just be easier if we keep things separate.” One of you is worried that the other will blow the bank, and that’s counterproductive for the Business of You.  I highly recommend the Financial Peace University 6-week course, which my husband and I took before we even got engaged.  It’s a great way to get on the same page financially.
• Premarital counseling? “Get real!”
  If you ever do have marital problems, it’s kind of nice to know what your spouse might be like in a bad situation. No, I’m not saying you should do something awful just to see how they react. I’m suggesting you go to premarital counseling with your minister, a therapist, or even the Financial Peace University class I mentioned above for a couple of months before you get too far into the wedding planning.  Not only will these exercises prepare you for discussing difficult topics together, it’s also an indication of the willingness of your spouse to compromise and work toward the success of your marriage.  If your partner refuses to do any form of premarital counseling, they’re probably going to be difficult business partner.
• Spending time with the in-laws? “Darn, I’ve got to work late.”
  If your potential in-laws hate you or you hate them, you’re always going to have conflict brewing. And, anytime you’re engaged in a combative relationship like that it can be damaging to all facets of your life, including your career. In a marriage, the counsel of your spouse should take precedence over all else.  If your spouse gives more weight to his or her parents’ advice, your sole proprietorship just jumped straight to a corporation with a board of directors.  You may feel like its impossible to have in-laws that are wonderful and with whom you enjoy spending time, but it’s not.  I just kept dating until I found a husband AND an extended family I love.

When the Business of You makes the legal move from a sole proprietorship to a partnership,  I hope you find a partner who is as committed to your success as you are.  I have a wonderful husband that helps me brainstorm for marketing and business ideas daily and happily proofreads every post on this blog, so that I have the best shot at sharing ideas that bring value to your day. Without each other, we wouldn’t be as creative or confident.

What have been some telltale signs that you hadn’t found the right business partner yet?