Dividing up the assets of the family business

When a relationship breaks down, it is very difficult for separating couples to continue together in business. It is almost impossible for people to resolve their personal problems at the same time as working together effectively on a day to day basis with all the pressures that creates.

In the long run, it is generally better to look at separating out each party’s respective interests so that each knows exactly where they will stand in the future.

Once all relevant information has been gathered and the business has been valued, consideration will need to be given as to whether the business is to continue, being run by one party and perhaps others, often other family members, whose interest will also need to be considered. Alternatively, it may be more practical or make better financial sense for the business to be sold. In either case an agreement will need to be reached as to what each party receives. If an agreement cannot be reach you can be confident that we will use all of our endeavours to represent your interests whether through the court system, mediation or any other method of resolving the difficulty.

At Shacklocks we have specialists with appropriate expertise and experience to assist in helping you work out what would be best for you, how that could be put into effect and how any funds could be raised to pay any settlement. Our unique blend of family lawyers, corporate specialists and financial experts will all work as a team on your behalf in looking to achieve your objectives.