Legal Advice for Business Owners on Divorce
We often represent business owners going through a divorce, who understandably want to protect and maintain the years of hard work and success in building up their business.
Business assets won’t necessarily be treated in the same way as other assets, but can be considered a resource that one spouse has the benefit of and so relevant to a financial settlement.
In the worst case scenario it is open to the Court to order, in certain circumstances, the sale of business assets or the business itself if necessary to meet the needs of the family after divorce.
It is important that business owners take legal advice at the earliest opportunity if a divorce is likely so that they can help protect themselves and their businesses as far as possible from any claim by their spouse.
Legal advice and assistance may also be relevant if a business owner is intending to marry and wants to protect their business by way of a pre-nuptial agreement. Or to find out how to bring to an end any ongoing maintenance claims following a divorce, particularly if planning to set up a new venture that they would like to protect.
We can assist by looking at all the options available and determining the best course of action for you.