Protecting your business when going through divorce

By Donna Amos

12 Nov 2024

Donna Amos new

The life of a business owner is stressful – add getting divorced to the mix and it can make life overwhelming!

Your business is considered an asset, so it must be disclosed during the divorce process and may be taken into account when considering the marital assets to be divided.

However, there are some ways that can help you protect yourself and your business.

• Enter into a post-nuptial agreement or separation agreement to address how your assets will be shared in the event of a breakdown of the marriage.
• Offset other assets – for example, by offering your partner a larger share of the equity in the family home, savings or investments to offset
a claim against your business.
• Ensure that your business is valued accurately and comprehensively to get a fair picture of its financial health.
• Seek professional advice. Divorce is more complex with the added challenge of business interests. Specialist family lawyers, accountants
and financial advisors can offer carefully considered advice that is tailored to your circumstances.
• If you are not yet married, take pre-emptive measures to protect your business by entering into a pre-nuptial agreement which can help
shield your business from the fall out of divorce.

Ultimately, the Family Court will seek to ensure that both parties’ and any dependent children’s housing and financial needs are met.

For tailored legal advice on your separation, please get in touch with Donna Amos at Barker Booth & Eastwood and mention ‘Lancashire Business View’ when making an appointment.

Enjoyed this? Read more from Donna Amos

Latest news

1

University-led 4.9 million initiative to turbocharge North West England’s cyber ambitions The data immersion suite at Lancaster University

University-led 4.9 million initiative to turbocharge North West England’s cyber ambitions

20 Nov 2024

2

Staci UK earns Great Place to Work® certification, amid major expansion plans Staci UK Fulfilment teams

Staci UK earns Great Place to Work® certification, amid major expansion plans

20 Nov 2024

3

Harrison Drury merges with specialist Merseyside law firm John Chesworth, Adele Spence, John Osborne

Harrison Drury merges with specialist Merseyside law firm

20 Nov 2024

4

Better transport links are key if Lancashire is to drive up productivity Katie Day strategy director at Transport for the North

Better transport links are key if Lancashire is to drive up productivity

19 Nov 2024

5

Farleys strengthens Private Client Team with Preston appointment Katy Shakeshaft and Victoria Marsh from Farleys

Farleys strengthens Private Client Team with Preston appointment

19 Nov 2024

PC PrestonMacan GIF980x120
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
The Lancashire Festival of Business
FOB 315
Exhibitions
30 Jan 2025

The Lancashire Festival of Business

Impact Conferencing, Burnley, BB12 6QP

09:00 - 16:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
11 Jun 2024 - 04 Dec 2024

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 16:30

Skills Bootcamp in Procurement - Cohort 2
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Seminars
15 Oct 2024 - 17 Dec 2024

Skills Bootcamp in Procurement - Cohort 2

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

Emergency First Aid at Work
Chamber Logo1.png.png
LBV Hub Seminars
21 Nov 2024

Emergency First Aid at Work

FGH Training, 3rd Floor, Storey House, White Cross Business Park, Lancaster, LA1 4XQ

09:00 - 05:00

SPARK The Apprenticeship Marketplace
UCLanAerialCampus.jpg.jpg
LBV Hub Networking
21 Nov 2024 - 21 Nov 2024

SPARK The Apprenticeship Marketplace

University of Central Lancashire, Preston, PR1 2HE

09:30 - 13:00

Blackburn & Darwen Youth Zone Quiz Returns for 10th Year!
Quiz Pic.jpg.jpg
LBV Hub Fundraisers
21 Nov 2024 - 21 Nov 2024

Blackburn & Darwen Youth Zone Quiz Returns for 10th Year!

Accrington Stanley Football Club, Accrington, BB5 5BX

17:00 - 20:30

NLP Diploma Foundations
nlp nov 24.png.png
LBV Hub Seminars
22 Nov 2024 - 24 Nov 2024

NLP Diploma Foundations

Unlocking Possibilities training venue, 166 Waterloo Road , Blackpool, FY4 2AF

09:00 - 17:00

Lancashire Business Day 2024
231124LBVLancashireDayEventweb 5782
Networking
22 Nov 2024

Lancashire Business Day 2024

Blackburn Rovers Football Club, Blackburn, BB2 4JF

12:00 - 17:00

CQI and IRCA Lead Auditor Training Course ISO 9001 – Quality Management Systems (QMS) - REMOTE
IRCA-Certified-Course.jpg.jpg
LBV Hub Webinar
25 Nov 2024 - 29 Nov 2024

CQI and IRCA Lead Auditor Training Course ISO 9001 – Quality Management Systems (QMS) - REMOTE

Via MS Teams Link - RKMS Group , Blackpool, FY4 2DP

09:00 - 17:00

Preston Freelancer Meet-Up
Freelancer-Meet-Up-Nov.png.png
LBV Hub Networking
26 Nov 2024 - 26 Nov 2024

Preston Freelancer Meet-Up

Society1 Coworking Space, Preston, PR1 3LT

10:00 - 11:00

Chamber Breakfast Networking
Chamber Logo.jpg.jpg
LBV Hub Networking
27 Nov 2024 - 27 Nov 2024

Chamber Breakfast Networking

Lancaster Golf Club, Ashton Hall, Lancaster, LA2 0AJ

08:00 - 10:00

Kickstart Networking - End of Year Celebration
Gold White Simple Christmas Party Instagram Post (Square).png.png
LBV Hub Networking
29 Nov 2024

Kickstart Networking - End of Year Celebration

Esc CC, Clitheroe, BB7 2DA

17:00 - 21:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV118 Online Graphic
Subscribe now

Weekly news bulletin