- Divorce & Business Assets -
- Divorce & Business Assets -
- Divorce & Business Assets -
Divorce & Business Assets
How we can help
Top Divorce Lawyers Serving Cheshire & London
Locations we serve:
Cheshire – Hale, Bowdon, Altrincham, Alderley Edge, Prestbury, Wilmslow, Stockton Heath, Macclesfield, Chester, Knutsford, Tarporley, Lymm, Crewe, Frodsham, Malpas, Congleton, Warrington
London – Belgravia, Bloomsbury, Camden, Chelsea, Earls Court, Fulham, Hampstead, Harrow, High Gate, Holland Park, Kensignton, Knightsbridge, Marylebone, Mayfair, Notting Hill, Putney, Pimlico, Regent’s Park, Richmond, Westminster
Can a business be considered an asset?
Some people may think a business, such as a limited company, would not be considered in a divorce, but that is not the case as a business can be considered a marital asset even if only one spouse owns it. The Court will consider factors such as the length of the marriage or civil partnership when the business was established or acquired, each partner’s contributions to the business’s growth, and the needs of any children involved.
How is a business valued during a divorce?
The value of a business is usually assessed by an independent valuer or accountant who will examine the financial statements, assets, liabilities, and future earning potential, as well as external factors such as market conditions and industry trends.
How can you protect a business asset?
Courts are usually willing to leave business structures unaffected by divorce and enable them to continue as a going concern. As a result, whilst you may not have to sell or transfer the business, you may have to find money or other assets to provide for your spouse in lieu of their interest in your business. A business owner may be able to protect their business during a divorce if they have a pre-nuptial or post-nuptial agreement in place that clearly outlines the ownership and division of assets in the event of a divorce. However, it is important that the agreement is properly drafted and meets certain legal requirements to be enforceable.
Buying the other out of the business during a divorce
If one spouse wants to keep the business and buy out the other spouse’s share, they will need to negotiate a fair price for the share.
We always aim for the least stressful, quickest, most economical and amicable way to reach a financial settlement during divorce.
We cover nationwide. We have offices in:
- Wilmslow
- London