The first working Monday of the year is dubbed 'Divorce Day' by family lawyers, but if you’re in business with your partner, things can get complicated. One of our own family lawyers, Helen Hunt actually wrote about this very problem: 'Protecting Your Business Assets From Divorce' last year over on the blog. Have a read for her helpful and clear suggestions.
A divorce is one of those things you don’t anticipate, plan or want to be party to. It’s tough to go through, especially when children are involved, but throw a business into the mix and there will be even more to consider. In an ideal world, you will have a pre- or post-nuptial agreement, your house ownership will be clearly documented, and your business will have a partnership or a shareholders’ agreement. But divorces do happen and they can be bad for business if not handled correctly – in the worst-case scenario, it could be the end of your business as well as your marriage. I