divorcing and business

[pawsedforthought]

I finally reached the end on Friday and told H that I was done with him (drugs and alcohol on top of 3 episodes where sectioned for cannabis psychosis)

I'm resigned to him having half the house he hasn't contributed to for 18 years but was hoping that someone with experience can give me an idea what will happen about our businesses.

Mine sole shareholder but joint directors. He has never actually worked in business but has drawn a salary equivalent to mine of approx pa, business makes a small profit after wages etc but not significant. All wages paid into joint account to just about cover bills.

His joint shareholders, he is sole director, but loss making, no payroll more of a hobby he has drunk and smoked all the income from.

Would it be unreasonable to hope we could just say what's mine is mine and what's yours is yours and for me to not have to pay him anything? If not will I be expected to continue to fund his lifestyle when he has done sweet fa?

TIA

You need to consult a solicitor. No-one on here can tell you what will happen. However, both businesses will go into the pot to be divided between you. The courts prefer not to disrupt operations if possible. That may mean you keep your business and, as it is worth more than his, he gets more of the other assets to compensate. However, it is not guaranteed he will be entitled to half the matrimonial assets. A range of factors are taken into account which may result in him getting more or less than half.

thank you, I am waiting on callbacks from solicitors, I think it's more knowing whether i will have to expect to pay him a "wage" or maintenance or whether I can expect him to support himself after the household is split x

The courts prefer a clean break wherever possible, so prefer to give a lump sum instead of spousal maintenance.

Whether he gets a share of the value of your business depends on what kind of business it is. If you are effectively a sole trader then chances are it is worth nothing except the assets held and cash in the bank.

As someone who went through this it was incredibly complicated as our pensions owned one of the business properties and a surprisingly high value was attached to him getting several thousand pounds in to his pension every year.
but calculations were made as to the value I had accrued before we got together and various other elements.
It took a long time to resolve partly as his alcoholism spiraled and getting him to engage was impossible. Ultimately his lack of work was put down to a choice he made rather than due to supporting me in my business.

@Collaboratethanks for that, professional practice for mine with myself being only qualified fee earner, no physical assets x

@Needanadultgapyearas he has gone full DARVO I'm expecting him to make it as difficult as possible (told me I needed to leave HIS house when he hasn't contributed for 18 years sigh)

Likely then that the business has no inherent goodwill as it stays or leaves with you. The business is worth its balance sheet value.