If you’re a business owner, it’s highly likely that your company will be considered as part of the financial proceedings when getting divorced or dissolving a civil partnership. Our specialist divorce solicitors have ample experience in dealing with complex matters including protecting your business in a divorce.
We can offer comprehensive guidance, supporting you to handle your business assets when getting divorced or dissolving a civil partnership. No matter what the specifics of your situation, we’ll ensure that you understand your full range of options, helping you to achieve the most favourable outcome.
Our experts can support clients with limited company divorce settlement matters, including:
- Protecting your business in a divorce
- Business valuation during divorce
- Divorce and the family business
- Mediation processes to reach a financial settlement
- Representation in court proceedings
- Pre-and post-nuptial agreements
Speak to us about limited companies and divorce today
Take advantage of a free 30-minute telephone appointment to talk through your situation. We will explain your options and how we can help. You will find that our lawyers are friendly, approachable and knowledgeable.
How our limited company divorce settlements solicitors can help you
Protecting your business in a divorce
If you’re going through a divorce and you’re concerned about the implications for your business, our specialist solicitors can provide you with expert advice tailored to your circumstances. Limited company divorce settlements can be incredibly complicated, particularly if there is some level of conflict between yourself and your ex-partner.
We appreciate that you may be concerned about what could happen to your business and that you’ll want to protect the company that you’ve built. Our experts can offer company directors and owners divorce advice to make sure business assets are protected.
Business valuation during divorce
If you’re getting divorced and you or your partner owns a limited company, it’s important that the company is valued correctly so that it can be properly factored into the division of assets.
At Woolley & Co, we can help to achieve a fair, independent valuation for a business based on the operational income and capital assets. As well as reviewing the company accounts, the valuation process involves assessing cash flow and comparative company models.
Our solicitors can liaise with accountants on your behalf, taking into consideration various factors while also reviewing the tax implications. We’ve supported many individuals with limited company matters on divorce, so can talk you through all of the issues and give you a clear appreciation of your legal standing.
Divorce and the family business
Where a divorcing couple own and run a family business together, dividing the business between the two parties can be complicated. Where you are facing this predicament, both parties are advised to gain independent legal advice early on.
Our solicitors can offer expert guidance and support divorcing couples in this situation. There are several options to divide a family business during a divorce, for example:
- One individual ‘buys out’ the other
- One person takes sole ownership of the business, while the other accepts a maintenance or compensation payment
- One party carries on operating the business and transfers shares to the other party
- The business is sold, and both parties split the proceeds
- Both individuals decide to become shareholders and enter into a shareholder’s agreement
Mediation processes to reach a financial settlement
Our family lawyers can help you to reach a limited company divorce settlement as part of your divorce proceedings. We can assist you through a mediation process, supporting you to negotiate with your partner and avoiding a court hearing if possible.
Reaching a settlement can be difficult and there are various underlying factors which must be taken into account. We will ensure that you have all the information you need to understand the procedure and prepare yourself. Together we will work towards the best divorce settlement to suit your needs.
Representation in court proceedings
Under some circumstances, it may be necessary to go to court to reach a financial settlement, particularly if there is dispute regarding your divorce and limited company. We understand that the prospect of a court hearing can feel overwhelming and are here to offer constructive and sensitive guidance throughout the entire process.
Pre-and post-nuptial agreements
If you’re entering into a marriage and you’d like the option of protecting your business interests, we can support you to create a pre or post nuptial agreement. A pre-nuptial agreement is a legal document that’s drafted before you get married. The document outlines how assets would be shared in the event of a divorce. A post-nuptial agreement includes the same information, however, it is drawn up after the couple have married.
When you’re preparing to get married you probably won’t be thinking about the prospect of a divorce. Regardless, making these plans now can help you to protect your future interests and potentially your business if you do get divorced later down the line.