If divorce is in the future for you and your spouse, you likely want to keep it as private as possible. You don’t want your soon-to-be ex posting about it on social media or sharing personal details with their friends, colleagues or your children.
If you own a business, are in local politics or otherwise have a high profile, even within your community, having a spouse who shares information about the divorce can be more than embarrassing. It could affect your livelihood. Information that presents you in a negative light (whether accurate or not) could harm your reputation and, therefore, your career.
If that’s the case, it may be worthwhile to seek a confidentiality agreement. To be effective, this needs to be done before proceedings begin and even before any documents are exchanged – such as financial disclosures.
An agreement can protect personal and business information
With the proliferation of social media, divorce confidentiality agreements — which are essentially non-disclosure agreements (NDAs) — are becoming increasingly common. Many businesses require their top executives or partners to get them. That’s in part to keep any financial or proprietary information related to the business from getting out. Of course, a messy divorce by a key player in a business can also affect its bottom line.
A request for a confidentiality agreement, which needs to apply to both spouses, has to be approved by a judge. That approval isn’t a guarantee. If you ask for one, you’ll need to show what’s at stake.
No two divorce confidentiality agreements are the same. Some are broader than others. It’s crucial to be specific about what is considered confidential. This can be personal as well as business-related information. The agreement will likely specify actions that can be taken if the agreement is breached – such as a financial penalty and/or a court sanction.
Whether you’re the one seeking a divorce confidentiality agreement or your soon-to-be ex is, it’s important to learn more about what’s involved and to protect your rights. Having experienced legal guidance is crucial.
