How do I “divorce-proof” my business?

We deal with many cases involving SME’s and businesses.  The impact on a business of a marriage breakdown can be significant:

  • It can be difficult to focus on your work while you are dealing with the emotional fallout of your separation. This can affect financial performance, the value of the business and the level of your income.
  • The business interest may well be an asset to be considered in the financial settlement.
  • If the business is run as a joint venture by both of you, the future of the business will need to be decided

Could ignoring a court order in your divorce land you in prison?

When you are going through financial proceedings during your divorce, there can be two types of court order:

  • One which sets out the terms of the financial settlement and is either agreed by the parties or imposed by the judge and usually comes at the end of the proceedings; and
  • Within the proceedings, there can be case management orders setting out the documents or information required to progress to a final settlement.

I’m divorced so my money is safe now. Right? Wrong.

A common misconception in divorce is that a financial claim cannot be made once a Decree Absolute has been granted. In reality there is no limitation period for bringing a financial claim after divorce and there have been a number of very high-profile cases recently where financial claims have been brought many years after the marriage had ended.