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Business Owners & Professionals
“Business interests may form part of the marital pot. This doesn’t mean, however, that any business or businesses should have to be sold.”
Debra Emery, Partner and Head of Family
It is often assumed, wrongly, that any business interests, owned by one partner or owned jointly, do not form part of the marital pot. In many cases, they do. Equally, it is often assumed that the business will have to be sold once the relationship has broken down. In most cases, it does not. We are highly experienced in dealing with relationship breakdown where businesses and business assets are involved.
We advise our clients on the most cost- and tax-effective solution, taking into account your personal situation and settlement arrangements. We consider trading profit, assets and liquidity in order to achieve a fair settlement, rather than forcing a sale. Whether in joint names or in the sole name of one partner, the business interest may form an important element of the ‘overall pot’ and is often the main source of future income, so we give this issue very careful consideration. We can also advise on tax implications and pension fund arrangements.
Our clients frequently have investment portfolios including property in the UK and abroad. We regularly advise couples with assets well in excess of £1 million and create fair, workable settlements based on their specific needs.