PROMOTION of alvorce in Divo rce body. e The legal Denition mpetent What can happen business when you divorce? divo fro to your hen a marriage breaks down it that. Having a business valued is just part of the transparent disclosure exercise. If you are the business owner then your priority will be to protect your business. If you are not the business owner then you should take is sensible to take legal advice especially if a business is involved. Business are just one of the assets which may be shared in divorce but do they need to be valued? advice on the best way to remove your fair share without extensively damaging the company. Some businesses do not have a capital value as their purpose is to produce income. If there is nothing to sell, why waste your money on a valuation? Instead, it would be better to consider sharing the income the business produces by way of maintenance order But if one of you either owns the business in their sole name or has a hefty shareholding then a valuation is probably going to be needed. Having a basiness valued does not mean that the business will be sold. This is helpful to remember because to some, having their business valued feels like a threat when it shouldn't. Just like having the family home valued is only a way of understanding how much the house is worth, a business valuation "Having a business valued does not mean that the business will be sold" The family courts take the approach that if possible the business should remain with the owning spouse with the non-owning spouse being compensated in some way, either through receiving a larger share of another asset, like the home, or by way of maintenance. The family court has a wide discretion in ordering or approving settlements and creative solutions can be found. is the same. Working out a fair financial settlement in divorce is a two stage process, the first stage is to work out what there is to divide and the second stage is to agree how to divide If you are in any doubt as to your financial position on divorce then taking advice from an family law specialist is without doubt one of the most important appointments you can make. For further information please contact: Claire O'Finn, High Net Worth Family Law Specialst. 020 3319 3700 claire.oflinn@keystonelaw.co.uk PROMOTION of alvorce in Divo rce body. e The legal Denition mpetent What can happen business when you divorce? divo fro to your hen a marriage breaks down it that. Having a business valued is just part of the transparent disclosure exercise. If you are the business owner then your priority will be to protect your business. If you are not the business owner then you should take is sensible to take legal advice especially if a business is involved. Business are just one of the assets which may be shared in divorce but do they need to be valued? advice on the best way to remove your fair share without extensively damaging the company. Some businesses do not have a capital value as their purpose is to produce income. If there is nothing to sell, why waste your money on a valuation? Instead, it would be better to consider sharing the income the business produces by way of maintenance order But if one of you either owns the business in their sole name or has a hefty shareholding then a valuation is probably going to be needed. Having a basiness valued does not mean that the business will be sold. This is helpful to remember because to some, having their business valued feels like a threat when it shouldn't. Just like having the family home valued is only a way of understanding how much the house is worth, a business valuation "Having a business valued does not mean that the business will be sold" The family courts take the approach that if possible the business should remain with the owning spouse with the non-owning spouse being compensated in some way, either through receiving a larger share of another asset, like the home, or by way of maintenance. The family court has a wide discretion in ordering or approving settlements and creative solutions can be found. is the same. Working out a fair financial settlement in divorce is a two stage process, the first stage is to work out what there is to divide and the second stage is to agree how to divide If you are in any doubt as to your financial position on divorce then taking advice from an family law specialist is without doubt one of the most important appointments you can make. For further information please contact: Claire O'Finn, High Net Worth Family Law Specialst. 020 3319 3700 claire.oflinn@keystonelaw.co.uk