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.