We offer initial legal advice about family business money matters in divorce or separation. Call our Divorce Solicitors on 03306069626 or contact us online and we will help you.
At Co-op Legal Services we will agree our fee with you upfront before any work starts. Once we have provided you with a written quote for the agreed work to be done in your divorce case, that price will not change.
Our Divorce Solicitor rates start from £175 per hour (£210 including VAT).
Our specialist team of Divorce Solicitors have many years of experience dealing with complex family business issues for businesses including SME's, Limited Companies and Partnerships. Our Head of Family Law has particular expertise in dealing with high net worth divorce cases involving farming partnerships, dental and veterinary practices and care homes.
What Happens to the Family Business in Divorce?
If you and your spouse or partner are in business together, there are things you will need to consider if you get a divorce, separate or dissolve a Civil Partnership. This is because if the Courts become involved in how your financial assets should be divided up, the Court will have to take your family business money matters into account.
The Court has a very wide discretion in how it deals with arrangements in financial applications when couples break up. When deciding how to divide up a family business the Court will consider:
- How the business was originally set up.
- What contribution each of you has made to it and your current roles.
- Whether any other people are involved running the family business.
- The commercial prospects for the business.
- If any assets can be realised without affecting day to day business operations.
- What your ultimate intentions for the business were.
Valuing the Business
Some family businesses that have no underlying capital value, simply provide an income stream. These do not need valuing since they can be shared by way of a Maintenance Order. However if one spouse owns a family business outright or has a significant shareholding then it is usual for the business to be valued as part of the divorce financial settlement.
Valuing a family business can be difficult and normally it is necessary to instruct an expert accountant or valuer with particular expertise. This is a complex area and there are many issues to consider, for example, a Consultancy based on the skills or knowledge of one person may be affected if that person leaves the business.
In addition to this there will be business tax issues that need careful consideration and expert legal, accountancy and forensic advice may also be required.
For initial legal advice about family business money matters in divorce call our Divorce Solicitors on 03306069626 or contact us online and we will call you.
As part of the Co-op Group our values of openness, honesty, social responsibility and caring for others are core to the service we provide, and our customers consistently rate the quality of our legal advice and services at 4.4 out of 5 stars. See customer testimonials for Family Law.
Our Promise to You
- No Nasty Surprises. We will provide a written quote before we start work.
- The fee we quote you in writing for the agreed work on your divorce is the fee you pay us.
- No Legal Jargon. We will take time to understand your needs and provide clear explanations so you completely understand what’s going on every step of the way.
- To help you reach the best possible outcome for you and your family with the least possible distress.
- To treat you as an individual. We do not believe in a one size fits all approach and we can work with you to find the solution which is best for you.
- To handle your case with sensitivity. Our Divorce Solicitors and legal specialists are experts in divorce and have specialist training to ensure they can help you through the challenges you are facing.
- Fair Pricing. Our agreed upfront price means you know how much your legal work will cost.
Call our Co-operative Divorce Solicitors on 03306069626 or contact us online and we will call you.
The family law team at Co-op Legal Services includes specialist Family Solicitors, Divorce Solicitors and Children Law Solicitors with Resolution Accreditation and Resolution accredited experts in child abduction, co-habitation, domestic abuse, property disputes, high net worth money matters and financial advocacy.
Co-op Legal Services has over 600 staff working in different businesses with offices in Manchester, Bristol, Stratford-upon-Avon, Sheffield and London.