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How to preserve and protect a business through divorce

Posted by Jenny Buchanan

06-10-2014

I AM often approached by people with family businesses who are concerned with how a divorce will affect the company. Some often mistakenly believe that they can’t divorce because it puts the business at risk and therefore the income they rely on.

But this isn’t so. Companies can be preserved through divorce. Also, you don’t necessarily have to spend time and money fighting through the Court to protect it.

A business is often seen in the eyes of the law, as ‘the Goose that Lays the Golden egg,’ as it is a provider of income for the family. Either spouse, whether they’ve been involved in the business or not, is entitled to a share in the company because the Courts view the ‘homemaker’ as no less significant as the ‘breadwinner.’

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Jenny Buchanan

Partner
Family Law

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