When you’re getting a divorce, all of your assets will be taken into account when sorting out your finances. This includes the value of the family business, which is considered to be a ‘matrimonial asset’.
All of your matrimonial assets need to be divided fairly between you and your former partner. This doesn’t always mean taking 50% of everything, but is based on your individual circumstances.
If one of you decides that you don’t want to take any part of the family business, then you don’t have to. But just because you may be more involved in the business than your former partner, it doesn’t mean they’re not entitled to a part of it as well.
We know that dividing all of your shared assets in divorce can be stressful and can cause a lot of animosity between you.
Our Divorce Solicitors are experts at reducing conflict in separation and we can advise you on the fairest way to divide your assets amicably in divorce.