Divorce can result in serious damage to a business if appropriate consideration is not given to the business at an early stage. Our family lawyers play a crucial role in our family business offering and specialise in negotiating commercial arrangements which avoid such damage and ensure as little disruption as possible to you and your business. We have close links with top accountants and financial advisors who we work with to ensure you secure the most appropriate arrangement for you individually and your business enterprise as a whole.
Advance protection, in the form of pre and post nuptial agreements, company structuring and Trust arrangements can avoid significant financial and emotional stress should a relationship break down with a family business at the heart of it. We have specific expertise in wealth protection and planning, helping to ensure that appropriate protection is in place for you and your business long before any difficulties are anticipated.
As a business owner or entrepreneur you have more to think about on divorce than yourself. You will already be conscious of succession planning and appropriate business protections. You should also give thought to the relationships of any children and staff who have, or it is anticipated will obtain, an interest in your business.
Our family lawyers and specialist family business team work closely with members of your family and your business to ensure that personal difficulties do not impact on your company’s prosperity.
Q: How do the courts treat businesses on divorce?
A: In order to achieve a binding financial settlement, all of the assets belonging to or available to the parties to the marriage must be disclosed and taken into consideration. For parties who have substantial business interests there is often concern about how the court will treat their interest in the business and whether they may be forced to sell or to share their interest with their former spouse.
Q: How can I protect my business?
A: It is always advisable to consider a pre or post nuptial agreement which can make provision for what should happen to a party’s business interests in the unfortunate event of a relationship breakdown in the future. This is especially important for family business owners who may be considering their succession planning and where retaining the family business and the wealth it provides, for the immediate family, is of the utmost importance not only financially but also emotionally.