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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Business assets - will they be shared out after divorce?

6 replies

WiggyClawsThe2nd · 07/06/2023 17:48

I have run a service business as a sole trader for 25 plus years. Over that time I have built up a lot of equipment relating to my business, although the majority was owned well before I even met my husband. Will he have any rights to my business equipment if we divorce?

OP posts:
Mumof3confused · 07/06/2023 18:31

My understanding is that it’s unlikely because you need it to support yourself and it’s an illiquid asset. Is it worth a lot?

WiggyClawsThe2nd · 07/06/2023 18:42

Probably around £6000 for everything. But vital for my work yes.

OP posts:
Mumof3confused · 07/06/2023 22:41

I don’t think I would worry about this.

WiggyClawsThe2nd · 07/06/2023 23:00

Mumof3confused · 07/06/2023 22:41

I don’t think I would worry about this.

Good job you don't work in my field really. Trust me, the equipment is essential to do my job!

OP posts:
Mumof3confused · 08/06/2023 07:21

No, what I mean is I think it would be unlikely that any judge would want to touch any business assets such as this, as this is used to produce your income. You can’t sell the asset without it affecting your business or livelihood so it’s not something the court would order.

WiggyClawsThe2nd · 08/06/2023 07:54

@Mumof3confused Oh that's a relief!

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