Statistics from the National Federation of Independent Business state that one million businesses are co-owned and managed by married couples. Many married couples decide to run a business together, each performing those tasks that are most closely aligned with their individual skill set.

The simplest solution to handling a business during a divorce is for one partner to buy out the other's interest. In order to achieve this, it is essential to achieve a fair valuation of the company. Beginning this process early and settling as soon as possible is in the best interest of both parties if this solution is chosen. Dragging out the process will only lead to escalating tensions and rising costs, as well as potentially affecting the business operations.

A financial buyout is not always feasible. It may be impossible for the both of you. The party that wishes to continue operating the company may not have the available funding to complete the buyout. Or each party may play a unique role in the company's management that the other cannot easily fill. If it is not feasible for an immediate buyout to occur, then you must reach an alternative agreement.

If one party is capable of managing the business alone and you decide not to perform a buyout, it is possible to reach an agreement where both partners will receive an equitable portion of the income stream generated by the business.

If both partners are essential to the running of the company, or if neither of you is willing to forgo your claim, it may be possible to continue the business relationship despite the breakdown of the personal relationship. This can work in the case of an amicable divorce in which the spouses remain friends.

Another option is to sell the business to a third party and divide the proceeds. This may be heartbreaking if your identity is heavily invested in the company, but may be the only logical way if you and your partner reach an impasse. This will ensure a clean break and avoid many of the pitfalls associated with continuing a family business.