Valentines Family Law Event – Will you say I do to a pre-nup?
Valentine’s day brings a lot of joy to the hearts of lovers: decisions to take the relationshi...
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Levels of self-employment have jumped dramatically in recent years. If you own shares in a company, or your spouse does, it is imperative to seek expert legal advice when divorcing to ensure your best interests are protected.
If part of the matrimonial assets involves a business, issues such as valuation and liquidity are essential to ensuring a fair division. But before that, disputes may erupt around whether the company is, in fact, matrimonial property, especially if one spouse began the business long before the marriage took place.
Our family law team has a deep understanding of family law as it relates to business. In addition, we operate a paperless office; thereby reducing the time you need to spend considering documents. We are also members of Resolution, a team of 6,500 Solicitors who advise and represent clients with a philosophy of respect and non-confrontational methods.
See our client testimonials. Meet our team of skilled lawyers. Contact us today for help with your case.
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Expert valuation is a vital part of establishing how the company and other business equity should be divided in a divorce financial settlement. Factors that indicate a professional valuation should be done include:
If the business is a sole trader or freelance model, it is unlikely a valuation will be required.
In valuing a business, your Solicitor may consider issues of liquidity and how money can be withdrawn from the business to fund a settlement or the extent to which the business provides income to meet ongoing periodical spousal maintenance payments.
Courts do not treat valuations as absolute; rather they are seen as a guide.
In UK divorce law the starting point is that of equal sharing. However, the Courts must consider the factors listed in Section 25 of the Matrimonial Causes Act 1973 when making a Financial Order. For example, in the past, the Courts have adjusted awards where one spouse has made significant contributions post-separation towards increasing the value of a business before the sale (JB v MB [2015] EWHC 1846(Fam)). In another case, the Court awarded the wife 28.75% of the couple’s overall wealth because they had always kept their finances separate and the assets that grew during the marriage were predominantly the husband’s business assets (XW v XH [2017] EWFC 76).
The key point is that the Court has full discretion when making a Financial Order. Therefore, your representation is critical. Our family law team, led by Rakhi Singal, has years of experience representing high-net-worth clients in negotiations, mediations, and Court. Rakhi is also a well-regarded specialist in cases involving complex financial arrangements.
Shares constitute property under section 24(1)(a) of the Matrimonial Causes Act 1973, and therefore the Court can order a transfer from one spouse to another. If you and your spouse become shareholders in a business post-divorce, our team will ensure a robust Shareholders’ Agreement is in place to prevent any party from improper conduct. If appropriate, our business team can also establish separate classes of shares for further protection.
It is extremely rare for the Court to order the sale of a business as it is often the sole source of family income. Instead, one party may receive greater equity in the family home or be given time to raise the cash to pay a lump sum to the other spouse.
By investigating all options available to you, we can advise on which one protects your best interests. We take the time to find out what success means to you and will work resolutely to achieve it.
In divorces involving a business experience, intelligence, and business knowledge count. To find out how we can advise and represent you, please contact our London office on 020 3372 5125 or complete our online enquiry form to make an appointment.
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Excellent service for my wife’s spousal visa from Lusine: very detailed advice, friendly and approachable. Also flexible in contact by email and provided an excellent cover letter.
I highly recommend Dr. Lusine Navasardyan, as she is professional, intelligent, hard worker and cheerful, she helped us from the beginning of our case until the very end, when she prepared a strong bundle with over 385 pages, which helped us get a successful victory in our Asylum case . I strongly recommend her as I really appreciate all the professional work that she has done . Many thanks to her.
Dr. Lusine has been working on my case. She has been very professional and a reliable person. She was always attending to my queries and she has always been very friendly throughout my case.
I am very happy with the level and quality of service I got from Dr. Lusine Navasardyan. She is very professional while creating a friendly and comforting relationship with her clients. The service from Lusine was professional,efficient and well organised. Lusine worked extremely hard at resolving my all issues while getting the best result.
So Rakhi Singal of RVS has just handled my divorce, it was a very complex case and I came to Rakhi at the very last minute on a friend’s recommendation. My case was a mess and I stood to lose everything.
Dealing with Rakhi was more like having In-House counsel than hiring a law firm, she does not approach her clients as a cash machine like many law firms do, she works with you to manage and minimise your costs and de-escalate conflict rather than throw wood on the fire.
She took a huge personal interest in my case, she was always available on the phone, very quick to respond to emails and is very honest and trustworthy.
My ex had huge spending power and used a team of high profile solicitors against me, Rakhi literally saved me from complete ruin and helped me get a very fair deal with me spending 6 times less than my ex on legal fees.
Thank you, my new family and I will be forever grateful!!!!
Could not be more pleased with the results!
I approached RVS solicitors as they were highly recommended and now I completely understand why. Soon as I contacted Rakhi I knew I wanted to use her, she was so professional and easy to get along with. I was faced with clients who were refusing the pay invoices, Rakhi immediately reassured me that she was able to help me and recoup these costs. She dealt with the whole process very professionally.
Really impressed with Rakhi’s dedication to our case and her knowledge and experience on dealing with the case. She communicated with us throughout the process, providing me with regular updates. Thank you so much, I cannot vouch for her work enough and RAW Invites are happy for you to continue to act for all their matters in the future.
Our expert team of family law solicitors specialise in all disciplines including financial settlement, divorce, civil partnership dissolution and child law. For advice or a free assessment call 020 3372 5125 or complete our online enquiry form.
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