divorce

Your Business on Divorce/Dissolution

Your Business on Divorce/Dissolution

Business assets On the breakdown of a relationship, any business owned jointly, solely or contains an interest, will need to be valued and perhaps, need to be restructured to effect any settlement. Settlements now centre on contributions to the business and homemaking during the marriage or civil partnership, with both regarded as of equal merit. It is important to understand the nature of your business and how it operates. Full and frank financial disclosure is required including examination of up to five sets of audited accounts and up to date management accounts, if they exist. Since the landmark decision of White v White (2000), where there are more than sufficient assets to meet the needs of the parties, as a starting point the court must consider a 50:50 division as a measure of equi... »