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Implications for the business

When a relationship breaks down and there is a business involved, careful consideration will need to be given as to how that business will continue to run in the future.

There will be different considerations depending on whether the couple were in business together or whether it was run or owned principally by one of the parties on their own, whether the couple were married or simply living together and whether there are children to consider.

Businesses can be run in different ways either as a sole trader, partnership or as a limited company. You may be a shareholder, a director or an employee or have no involvement at all. Whatever the case, it will be important to gather as much information about the business as possible.

Inevitably the business will have to be valued. Our highly experienced corporate team will begin the process of looking at how values will be affected by a number of factors. They have access to a range of other specialists we can call upon to fit every situation. This could include for example, the impact on goodwill, tax considerations and valuation of shares.

Here at Shacklocks we will provide firm advice and support at a difficult time whether you are trying to preserve your business from a claim or seeking an interest from it.

Who do I Contact?

Marcella Kilbane, Associate Solicitor, Family Marcella Kilbane

Associate Solicitor, Family

Tel: 01773 822333
Email: marcellak@shacklocks.co.uk

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Ben Stubbins, Partner, Family Ben Stubbins

Partner, Family

Tel: 01773 822333
Email: bens@shacklocks.co.uk

More about Ben Stubbins...