eet itigate any liabiliy PROMOTION A fair division - how a business is factored in on divorce mor volatile andare decion Share transter Suceession planning For family businesses that ate thinking about wacceion a pre- er post npeial agreement for all incoming sharebolders partaers isa wise thing to have in place before the basiness is hows the Cout shouad facor Iit is decided thatonly o pary that in particularly by giving the busines owmer time to ralne fund powible that the esiting spouse's by t their spouse's share. Ahernatively spousometimes stay in buniness and we work with place. hewevet, there should be them emalise the besis on ahould remaina shareholder, i shares can be trassdereed to the remaining spouse. Ifthin ls to take samese marimal passed on to the nest will set out to the business in the event assets t ageneration which that will happen pose divorce ensue thar the esiting spouse is compensated for relinquishing their isieres in the company There may be sasconsequences The Court in groerally very neluctant pon the share tranafer, however, or spouses teremain tied upina ntancy advice should company gether, however in some beenarly anpeile twh at should happen When beth speuses remain shareholders of a relationship beeakdown. Acorrectly drathed pre or post-nuptial agreement changes the Courer'ormal aring polat on divane Along with the usual stresses placed on a couple going through a divorce, it can be even more worrying for business owners when they find out the Court's powers extend to transferring ownership of business interests. Sarah Wals, a partner at Stephens Scown LLP, discusses the key considerations beinga S050 diviaion ofa counle'sarts and the starnting le heemesthe gement. In srder to be folloeed by Court, pre and postuptial greementsme be entered in toeely andia fullunderstanding good working relationship. Input from accountants i again of the terms of the agreement. imperative, as they will be able e important to seek independent In some ciecumscancen, lamily business. hvelimited poshle for the company to options is terma of ahernave buybek the eiting spouse's shares in che cempany BER "he sarting polar for property. ISAs and othe avings the elemenes ed the larm and n contrast, the salurol many busineses factuteand arerladen orma of emplopmeat, and have dividing assets on divarce potentially dividing the busines. is generally a sese divislon berween the spoes although thee Insome canes whereabualness y farmers geing was buik up before the nelationahip with anybody else. Howevet, the impact of a tarming divorce can Ieh ciumtances, we divonced is ne les cemmon than woeld strongly advise a detailed 10advise as e the viabry of this legal advice from asolicitor with eaperience ls this field. Sowhil bosiness valutons ae helptul hey are only ever Ourexperienced Corporate team order to authoriae the buyback, anapabot and ir la the nature of a business and the erlationship berween the couple that will impact en the Con'approach. shaneholders agreement which opcion. Ifthere ae addional egulates how the company obe run, minimise contict. shareholders, theie input islikely se be nguied in can be easons fora deperture started some ofs valeil be such as inheritanre or needs ened asonaimenial propertys ineways be more catastroph. The inherently risk-laden natune of some businesasets can also nd theoefore not necessarily Primarily because farming is not imply a job butaway otie. Regandless of the legal framewurk of the busines sharrahle with the spo can work with un in oeder to envure not least because the overall bea reason for deparring from a even split, with the spouse who continus toown the busines business type he peatest level of securiky for che hare strucure of the company shanvholders and for the company ialiketye change au Variations depending on many farming enterprises emain essenally family attairs This means that any break up a worth considering ithe nature of the business in asessing the estet acknowledge the risk hey take on. of the risk asociated with ita valur. of the business can have When a farmiievolved in divorce proceedings, for intance, there are oben addicional i that need o be considered,vecha valuing Many assets have a ftairly secure and stable value. These are ofen known an "copper botomed asetsand could inchade an impact well beyond the finances of the couple involved In comparison, sharm in aprivate company ane mach Serat Was aaspecialet tamly lawyer in the francial anpects of tonario breskdown Sarah peciales nngh va and compien francial work. The incuons compicated penson in, tax and valuation ssus came aganet truats, bunreon and tama, hertance oand preacgired woth To contact the family law toam, please cal, omail or visit our wobsto stephens-scown.co.uk 01392 210700 FamilyFinance.Exeterostephens-scown.co.uk eet itigate any liabiliy PROMOTION A fair division - how a business is factored in on divorce mor volatile andare decion Share transter Suceession planning For family businesses that ate thinking about wacceion a pre- er post npeial agreement for all incoming sharebolders partaers isa wise thing to have in place before the basiness is hows the Cout shouad facor Iit is decided thatonly o pary that in particularly by giving the busines owmer time to ralne fund powible that the esiting spouse's by t their spouse's share. Ahernatively spousometimes stay in buniness and we work with place. hewevet, there should be them emalise the besis on ahould remaina shareholder, i shares can be trassdereed to the remaining spouse. Ifthin ls to take samese marimal passed on to the nest will set out to the business in the event assets t ageneration which that will happen pose divorce ensue thar the esiting spouse is compensated for relinquishing their isieres in the company There may be sasconsequences The Court in groerally very neluctant pon the share tranafer, however, or spouses teremain tied upina ntancy advice should company gether, however in some beenarly anpeile twh at should happen When beth speuses remain shareholders of a relationship beeakdown. Acorrectly drathed pre or post-nuptial agreement changes the Courer'ormal aring polat on divane Along with the usual stresses placed on a couple going through a divorce, it can be even more worrying for business owners when they find out the Court's powers extend to transferring ownership of business interests. Sarah Wals, a partner at Stephens Scown LLP, discusses the key considerations beinga S050 diviaion ofa counle'sarts and the starnting le heemesthe gement. In srder to be folloeed by Court, pre and postuptial greementsme be entered in toeely andia fullunderstanding good working relationship. Input from accountants i again of the terms of the agreement. imperative, as they will be able e important to seek independent In some ciecumscancen, lamily business. hvelimited poshle for the company to options is terma of ahernave buybek the eiting spouse's shares in che cempany BER "he sarting polar for property. ISAs and othe avings the elemenes ed the larm and n contrast, the salurol many busineses factuteand arerladen orma of emplopmeat, and have dividing assets on divarce potentially dividing the busines. is generally a sese divislon berween the spoes although thee Insome canes whereabualness y farmers geing was buik up before the nelationahip with anybody else. Howevet, the impact of a tarming divorce can Ieh ciumtances, we divonced is ne les cemmon than woeld strongly advise a detailed 10advise as e the viabry of this legal advice from asolicitor with eaperience ls this field. Sowhil bosiness valutons ae helptul hey are only ever Ourexperienced Corporate team order to authoriae the buyback, anapabot and ir la the nature of a business and the erlationship berween the couple that will impact en the Con'approach. shaneholders agreement which opcion. Ifthere ae addional egulates how the company obe run, minimise contict. shareholders, theie input islikely se be nguied in can be easons fora deperture started some ofs valeil be such as inheritanre or needs ened asonaimenial propertys ineways be more catastroph. The inherently risk-laden natune of some businesasets can also nd theoefore not necessarily Primarily because farming is not imply a job butaway otie. Regandless of the legal framewurk of the busines sharrahle with the spo can work with un in oeder to envure not least because the overall bea reason for deparring from a even split, with the spouse who continus toown the busines business type he peatest level of securiky for che hare strucure of the company shanvholders and for the company ialiketye change au Variations depending on many farming enterprises emain essenally family attairs This means that any break up a worth considering ithe nature of the business in asessing the estet acknowledge the risk hey take on. of the risk asociated with ita valur. of the business can have When a farmiievolved in divorce proceedings, for intance, there are oben addicional i that need o be considered,vecha valuing Many assets have a ftairly secure and stable value. These are ofen known an "copper botomed asetsand could inchade an impact well beyond the finances of the couple involved In comparison, sharm in aprivate company ane mach Serat Was aaspecialet tamly lawyer in the francial anpects of tonario breskdown Sarah peciales nngh va and compien francial work. The incuons compicated penson in, tax and valuation ssus came aganet truats, bunreon and tama, hertance oand preacgired woth To contact the family law toam, please cal, omail or visit our wobsto stephens-scown.co.uk 01392 210700 FamilyFinance.Exeterostephens-scown.co.uk