Assets in divorce - Businesses
All businesses may be regarded by the Court as a matrimonial asset in divorce cases. Every business is unique and imaginative ideas are required to enable constructive proposals to be put forward.
The firm’s close connection between the commercial department and the family department means that Sills & Betteridge are not only in a strong position to offer clients advice on future separation but are also in a position to apply commercial and other skills to the negotiation of business assets.
There will be numerous things to consider in each individual case.
- If relevant, can the husband and wife continue to work alongside each other?
- Is a new business structure appropriate?
- Is one spouse able to raise funds to buy out the others interest and thereby leave the remaining spouse to run the business unimpeded?
- Can claims be met out of non matrimonial assets?
- Is a sale the only practical solution?
Whether or not you have hands on experience of running the business, we will work closely with you to ensure the best outcome. With our commercial department assisting if necessary, we will think creatively around settlement and how capital can be extracted without damaging the business.