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Articles : July 2008

Divorce and family law explained 

Divorce and business - will you have to sell the golden goose

By Woolley & Co, on Thursday July 31, 2008 at 1:03pm

A family business is no longer safe if a couple divorce.Historically, courts would seek to protect a business venture from being heavily involved in a divorce settlement to prevent the threat of it having to be sold off to meet the terms. Instead, a partner’s “reasonable needs” would be catered for as part of the settlement, with the business owner retaining the majority of those assets. However, a landmark ruling in 2000 in the...

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