PROMOTION How divorce can "matrimonial pot for distribution. The valuation of the business will almost always be based upon the current market valuation. Normally the valuation will affect a family business be by a single joint expert who will be an independent qualified accountant. n the event of a divorce, it is important that the needs of the family business lare protected as quickly as possible for its survival and commercial viability for the future, now more than ever. changed and the law has leaned towards fairness and dividing the matrimonial assets, and courts will only depart from equality where there is good reason to do so. What could happen to the family Iusiness? The final stage of the process is to decide Layla Babadi, family law expert at Nelsons, discusses the key things to consider in relation to the family business when getting a divorce: how to deal with the family business as a settlement between a divorcing couple. Typical options include: Putting the business up for sale: Buying out the other spouse's interest; Co-owning the family business. Understanding the business structure The first step in resolving the family business is to understand the business structure, of which there are three main Who will get what? Historically, the family court and trial judge would seek to protect the family business from being heavily involved in a matrimonial settlement in order to avold the business having to be sold. However, following the White v White case back in 2001, the position The sole trader; How Nelsons can help It is important for divorcing spouses to Partnerships: A limited company. ensure the correct perofessional experts are instructed to ensure the business How is the family business valued? The valuation of the family business is is not at risk going forward, whilst achieving a settlement which is fair and reasonable. crucial as this determines what is in the H you would ike acvice on any of the above, you can contact Layla Babadi on 01332 372 372 or email layla.babadienelsonslaw.co.uk who will be happy to help. SPACE FOR HALF PAGE ADVERT PROMOTION How divorce can "matrimonial pot for distribution. The valuation of the business will almost always be based upon the current market valuation. Normally the valuation will affect a family business be by a single joint expert who will be an independent qualified accountant. n the event of a divorce, it is important that the needs of the family business lare protected as quickly as possible for its survival and commercial viability for the future, now more than ever. changed and the law has leaned towards fairness and dividing the matrimonial assets, and courts will only depart from equality where there is good reason to do so. What could happen to the family Iusiness? The final stage of the process is to decide Layla Babadi, family law expert at Nelsons, discusses the key things to consider in relation to the family business when getting a divorce: how to deal with the family business as a settlement between a divorcing couple. Typical options include: Putting the business up for sale: Buying out the other spouse's interest; Co-owning the family business. Understanding the business structure The first step in resolving the family business is to understand the business structure, of which there are three main Who will get what? Historically, the family court and trial judge would seek to protect the family business from being heavily involved in a matrimonial settlement in order to avold the business having to be sold. However, following the White v White case back in 2001, the position The sole trader; How Nelsons can help It is important for divorcing spouses to Partnerships: A limited company. ensure the correct perofessional experts are instructed to ensure the business How is the family business valued? The valuation of the family business is is not at risk going forward, whilst achieving a settlement which is fair and reasonable. crucial as this determines what is in the H you would ike acvice on any of the above, you can contact Layla Babadi on 01332 372 372 or email layla.babadienelsonslaw.co.uk who will be happy to help. SPACE FOR HALF PAGE ADVERT