MYTH: The Court will not take into account business assets in a divorce
REALITY: A business is considered to be as much of an asset as the matrimonial home. The Court will therefore consider the value of any businesses, whether jointly owned or owned individually, together with all the other family assets, when determining the financial settlement. It may therefore be necessary to get the business professionally valued, which can be a complicated and expensive exercise. It is therefore important to get legal advice on this subject and the Family team would be pleased to assist.
These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice.