What sort of issues may affect your business during a divorce?
Protecting Your Business
A business is part of the marital pot and just like a house or a pension its value will need to be taken into account.
If only one spouse works in the business then allowances will be made that will keep the business working and providing income. A judge would not normally make a ruling that means a business owned by one of the parties must be sold.
If the business is a family concern and the parties could not work together following divorce then arrangements have to be made so that one or other party takes over the business. This is a matter for detailed negotiation and is rarely straightforward.
Is a limited company protected during a divorce?
This depends on the circumstances. Although a limited company is a separate legal entity the value of the share holding is relevant.