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When a Partner Divorces
Going through a divorce can be tumultuous for everyone involved. When one of the parties is a partner in a law firm, those challenges are sometimes elevated for both the partner and the law firm. If you happen to be that partner, open communication with your spouse and your law firm is essential to minimize conflict with your spouse and maintain your relationship with your firm. If you are the law firm, working with the partner to protect the firm and its clients, while understanding the personal challenges the partner faces, will minimize the disruption to the firm and its clients.
As a partner divorcing his or her spouse, it is vital to be as transparent as possible regarding financial information. When you are a partner in a law firm, it is common for a spouse to request documentation about the law firm itself, such as the partnership agreement, revenue reports, tax returns, profit and loss statements, balance sheets, and information about equity and non-equity partnership. If you are cooperative with your spouse regarding production of information about your income and financial interest in the law firm, you may be able to avoid involving the law firm directly.
For example, when responding to discovery (or your spouse's informal requests), provide complete tax returns and supporting documentation, rather than just the first two pages of the return; provide entire account statements rather than just the summary page; and provide monthly credit card statements rather than just the yearly summary. The more information that the partner provides directly (remember transparency), the less inclined the partner's spouse may be to issue a subpoena to the law firm. After all, no one should want to kill the goose that lays the golden eggs.
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