If this is a serious business, create a partnership agreement now.

In the comments, you mention that you are operating without a partnership agreement (or perhaps with the default imposed by the incorporating authority in your locality). If your desire is to keep the partnership together, create an agreement ASAP. Include expectations of each partner and vest interests over time and variably with contributions.

That being said, there are a few different options you should consider, depending on your assessment of the situation:

1. The family issues are real - support your colleague through a troubled period. If the challenges your partner is facing outside of the venture are real, be patient and caring toward your colleague. Part of having a partner is being able to lean on him/her when needed. Your partner needs some help until the trouble passes.

2. The family issues are made-up, but your partner still has an ownership mindset - address the lying and consider updating your agreement. Lying is never acceptable, but it doesn't mean your partner doesn't care about the venture. If you're both still dedicated to growing the business, consider adjusting the partnership agreement to reflect the different amount of time spent.

3. Your partner has lost interest - it's time to break up. A disinterested partner, or an owner who doesn't act like one is likely to become a persistent drag on the business. If you can find a path to an amicable break-up, do it sooner rather than later.

With regard to (2), you might want to explore some other partnership agreements to see how they are structured. At least, you should be aware that:

• Partnership agreements (charter, articles of incorporation, etc.) can always be changed, usually for free when all partners agree.
• Ownership interest, financial interest, and decision interest are all separate quantities to be distributed in an agreement. 50/50 ownership doesn't automatically mean 50/50 split of the profits. Each quantity can be assigned separately and variably.
• Interests are typically assigned through vesting in early ventures. Instead of assigning interests upfront, individuals earn them by meeting milestones or putting in hours - even in 2-person ventures.
• The default agreements available from incorporating authorities are universally poor. Find a lawyer that specializes in new ventures or small business to create a well-functioning agreement for your business specifically if you haven't already.

I wish the best for both you and your partner, regardless of whether you continue in the venture together or part ways.

There are a few different options you should consider, depending on your assessment of the situation:

1. The family issues are real - support your colleague through a troubled period. If the challenges your partner is facing outside of the venture are real, be patient and caring toward your colleague. Part of having a partner is being able to lean on him/her when needed. Your partner needs some help until the trouble passes.

2. The family issues are made-up, but your partner still has an ownership mindset - address the lying and consider updating your agreement. Lying is never acceptable, but it doesn't mean your partner doesn't care about the venture. If you're both still dedicated to growing the business, consider adjusting the partnership agreement to reflect the different amount of time spent.

3. Your partner has lost interest - it's time to break up. A disinterested partner, or an owner who doesn't act like one is likely to become a persistent drag on the business. If you can find a path to an amicable break-up, do it sooner rather than later.

With regard to (2), you might want to explore some other partnership agreements to see how they are structured. At least, you should be aware that:

• Partnership agreements (charter, articles of incorporation, etc.) can always be changed, usually for free when all partners agree.
• Ownership interest, financial interest, and decision interest are all separate quantities to be distributed in an agreement. 50/50 ownership doesn't automatically mean 50/50 split of the profits. Each quantity can be assigned separately and variably.
• Interests are typically assigned through vesting in early ventures. Instead of assigning interests upfront, individuals earn them by meeting milestones or putting in hours - even in 2-person ventures.
• The default agreements available from incorporating authorities are universally poor. Find a lawyer that specializes in new ventures or small business to create a well-functioning agreement for your business specifically if you haven't already.

I wish the best for both you and your partner, regardless of whether you continue in the venture together or part ways.

There are a few different options you should consider, depending on your assessment of the situation:

1. The family issues are real - support your colleague through a troubled period. If the challenges your partner is facing outside of the venture are real, be patient and caring toward your colleague. Part of having a partner is being able to lean on him/her when needed. Your partner needs some help until the trouble passes.

2. The family issues are made-up, but your partner still has an ownership mindset - address the lying and consider updating your agreement. Lying is never acceptable, but it doesn't mean your partner doesn't care about the venture. If you're both still dedicated to growing the business, consider adjusting the partnership agreement to reflect the different amount of time spent.

3. Your partner has lost interest - it's time to break up. A disinterested partner, or an owner who doesn't act like one is likely to become a persistent drag on the business. If you can find a path to an amicable break-up, do it sooner rather than later.

With regard to (2), you might want to explore some other partnership agreements to see how they are structured. At least, you should be aware that:

• Partnership agreements (charter, articles of incorporation, etc.) can always be changed, usually for free when all partners agree.
• Ownership interest, financial interest, and decision interest are all separate quantities to be distributed in an agreement. 50/50 ownership doesn't automatically mean 50/50 split of the profits. Each quantity can be assigned separately and variably.
• Interests are typically assigned through vesting in early ventures. Instead of assigning interests upfront, individuals earn them by meeting milestones or putting in hours - even in 2-person ventures.
• The default agreements available from incorporating authorities are universally poor. Find a lawyer that specializes in new ventures or small business to create a well-functioning agreement for your business specifically if you haven't already.

I wish the best for both you and your partner, regardless of whether you continue in the venture together or part ways.

If this is a serious business, create a partnership agreement now.

In the comments, you mention that you are operating without a partnership agreement (or perhaps with the default imposed by the incorporating authority in your locality). If your desire is to keep the partnership together, create an agreement ASAP. Include expectations of each partner and vest interests over time and variably with contributions.

That being said, there are a few different options you should consider, depending on your assessment of the situation:

1. The family issues are real - support your colleague through a troubled period. If the challenges your partner is facing outside of the venture are real, be patient and caring toward your colleague. Part of having a partner is being able to lean on him/her when needed. Your partner needs some help until the trouble passes.

2. The family issues are made-up, but your partner still has an ownership mindset - address the lying and consider updating your agreement. Lying is never acceptable, but it doesn't mean your partner doesn't care about the venture. If you're both still dedicated to growing the business, consider adjusting the partnership agreement to reflect the different amount of time spent.

3. Your partner has lost interest - it's time to break up. A disinterested partner, or an owner who doesn't act like one is likely to become a persistent drag on the business. If you can find a path to an amicable break-up, do it sooner rather than later.

With regard to (2), you might want to explore some other partnership agreements to see how they are structured. At least, you should be aware that:

• Partnership agreements (charter, articles of incorporation, etc.) can always be changed, usually for free when all partners agree.
• Ownership interest, financial interest, and decision interest are all separate quantities to be distributed in an agreement. 50/50 ownership doesn't automatically mean 50/50 split of the profits. Each quantity can be assigned separately and variably.
• Interests are typically assigned through vesting in early ventures. Instead of assigning interests upfront, individuals earn them by meeting milestones or putting in hours - even in 2-person ventures.
• The default agreements available from incorporating authorities are universally poor. Find a lawyer that specializes in new ventures or small business to create a well-functioning agreement for your business specifically if you haven't already.

I wish the best for both you and your partner, regardless of whether you continue in the venture together or part ways.