No matter what your circumstances may be, going through a divorce will never be easy. That is certainly true if you or your partner owns a business, as coming to a financial agreement can become extremely complicated without the right legal support. Our expert divorce solicitors are on hand to ensure you are fully informed of your rights and what you can expect from a divorce involving a business.
At Sharp Family Law, our divorce and business solicitors have a wealth of combined experience in working with couples where one or both parties are business owners or have a substantial stake in a company.
Our divorce solicitors always take a collaborative approach to separations, including those which involve high-value assets such as businesses. We always look to remove any unhelpful animosity from proceedings, which will help to save you time and money, as well as increase the chances of achieving a positive outcome.
Even if a divorce involving your business appears to be incredibly difficult to solve, or if there are other high-value assets to consider, our team focus on using a variety of methods to reduce conflict as far as possible, including collaborative law, constructive negotiation and mediation.
Sharp Family Law accept work in person and electronically, by email or by filesharing on various platforms. We offer conferences in person, at our offices and by Skype for business, Microsoft Teams, Zoom, and Facetime or other video systems, or by telephone if preferred.
To arrange an initial meeting with one of our divorce and business solicitors, whether that is in person or electronically, please give us a call or use our online enquiry form to request a call back.
Our divorce and business services
Dividing a business owned by one party
If either you or your partner owns a business, there may understandably be some confusion over what arrangements will be made upon divorce. Many people assume that assets are split evenly during divorce proceedings, though this is usually not the case in practice.
While a 50/50 split of assets tends to be the starting point for negotiations, it is usually possible to find a solution that reflects certain concerns, such as having the value of a business accurately reflected in a financial settlement.
Our divorce and business solicitors can work alongside you to make suitable arrangements where business assets are concerned. We can advise you on your available options and the most sensible way forward, ensuring your needs are met while disruption is kept to a minimum.
Dividing a business between joint owners
If you and your spouse own a business together, this could potentially add extra complications to your divorce. For instance, you may have conflicting ideas about what you want to do with the business, whether that involves selling it outright, dividing it or continuing to run it together.
Our divorce and business solicitors can work with your closely to help form a clear plan that ensures that your personal interests are well protected, while also ensuring the future of your business is clearly mapped out.
Making additional financial arrangements
Our divorce and business solicitors can work alongside you to help establish how your business assets will form part of a larger financial settlement that is both fair and provides assurance for the future.
When dividing a business, it may be necessary to offset its value with other assets, such as pension funds, savings and investments or international assets. It may also be necessary to take factors such as the family home, child maintenance and spousal maintenance.
These arrangements can often be made out of court, but where this is not possible, we can provide practical advice about applying to a Family Court for a Financial Order. This will allow a court to decide how your financial arrangements, including what happens to your business, should be determined.
Why choose Sharp Family Law for advice about divorce and business?
Sharp Family Law is one of the largest family law firms in Bath and Bristol. We have specialist expertise in helping couples through the divorce process, including when business assets are involved.
We are committed to providing a carefully tailored and highly personal service to each and every one of our clients. We understand that every case is unique, particularly those involving businesses, and we ensure our advice is geared towards reaching the best possible outcome for your individual circumstances.
If this is the first time you have had to deal with complex financial or familial arrangements, we can also offer one to one guidance on specific matters, as well as refer you to specialists such as financial or pension advisors where appropriate.
Independent recognition for our family law expertise includes:
- The Legal 500 - Tier 3 for Family in the South West
- Chambers & Partners – Band 2 for Family/Matrimonial in the South West
- Richard Sharp is personally ranked Band 3 in Chambers & Partners
Our team’s training and professional memberships include:
- Several members of Resolution – the professional network for family lawyers committed to taking a non-confrontational approach to family law
- Richard Sharp is a trained collaborative lawyer and family mediator in both the UK and USA
To find out more about our family lawyers’ individual expertise, please take a look at our team.
Our main approaches to divorce and business
The collaborative law process will involve both you and your former spouse meeting with one another to discuss your divorce in order to reach a voluntary agreement out of court. This is where you will have the opportunity to discuss the practical elements relating to your divorce, including what will happen to the business in question.
Collaborative law is governed by a Collaborative Agreement. This is signed by both parties and their respective lawyers, committing everyone to make the process a success. Those same lawyers are prevented from representing their clients in court.
Constructive Negotiation prompts round-the-table discussions geared towards helping you reach a settlement out of court.
You and your former partner are encouraged to have detailed conversations about the details of your divorce and the way you intend to divide your assets – including your business assets. This helps to avoid the potential for conflict further down the line.
Family mediation also sees you sit down to speak with your former spouse, with the main difference being that you will be joined by a neutral family mediator.
A family mediator is present to mediate the conversation and nothing more. They will help you to resolve any potential conflict related to your divorce and are not allowed to give legal advice or take sides.
While we will always strive to help you resolve your divorce out of court, sometimes this is not possible. In these situations, it may be necessary to engage in court proceedings to reach a positive outcome.
Where court is the only viable approach, our solicitors can offer you robust representation to help you secure a result that protects your financial interests and sets you up for the future.
Get in touch with our divorce and business solicitors in Bath and Bristol
To arrange an initial meeting with our divorce and business solicitors in Bath and Bristol, whether that be in person or electronically, please give us a call or use our simple online enquiry form to request a call back.