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Separating and Have a Business?

Reasons to choose Wilson Browne

At Wilson Browne, we often represent local business owners in divorce.

Initially, the Court has to consider the value of any business asset. When a formal valuation is obtained though, it is a “guide” rather than an absolute and the value is not akin to cash in the bank.

You may argue that the business is a “non-matrimonial” asset, particularly if it was established before the marriage, was inherited or significantly grows after separation due to your efforts. This may impact on a final order, although the “needs” of your spouse may take priority, if there aren’t enough “matrimonial” assets to meet them.

Some business owners are horrified to discover that the Court can order a sale. They can, but try not to. If both of you are shareholders the Court will often order the transfer to one of you, so as not to create later ties.

Expert advice is essential and the Family Law team at Wilson Browne Solicitors are here to help.

Sally Robinson

Posted:

Sally Robinson

Partner

Sally is a Partner in our Family Team. She advises on all family law issues; working with clients to protect their wealth at the start of relationships, to advising on all matters when relationships breakdown.