Family Businesses on Separation
When couples separate, a very difficult matter to resolve is what should happen to the family business. A family business can often have been built up over many years and be a valuable financial resource. The Court is conscious that often such a business is there to provide income for the benefit of the family and any dependent children.
We have significant experience in handling all the significant matters and issues which arise when considering how such business assets should be approached within family proceedings. This will not only include obtaining a proper value, but also considering issues such as liquidity and the tax implications arising from the payment of monies out of the Company to one or both of the spouses. We also are able to call upon relevant expertise evidence if required.
The Court has many powers when considering such family businesses. The Court can even order shares in a business to be transferred if not sold.
Family Business Solicitors
Our specialist Divorce Solicitors provide a tailored service and free initial telephone consultation for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.