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Original poster

Divorce when you own a business

14 replies

BlueGingerale · 23/10/2019 18:34

I’m planning to leave my H in 3 years when my youngest DS turns 18

However I own a successful business which my H has never worked in. We’ve been married 20 years and always both worked. Neither of us took time off to raise the kids.

H is currently unemployed and when drunk he said if I divorce him he’ll take half my company.

And I’m worried. Can he do that? He hasn’t contributed to it at all.

OP posts:
WhoKnewBeefStew · 23/10/2019 18:39

The starting point for any financial settlement will be 50/50 of all assets, house, pensions, savings, and your business too I'm afraid.

WhoKnewBeefStew · 23/10/2019 18:40

Get yourself a shit hot lawyer and get proper advice

NeedAnExpert · 23/10/2019 18:41

and your business too I'm afraid.

Not if she’s the only shareholder of a ltd company he won’t.

Drabarni · 23/10/2019 18:43

If he isn't a director of her company he will have no rights to it. It's the way she earns a living and nothing to do with him.

Hey1256 · 23/10/2019 18:44

You need to go to a family law specialist.

Without knowing your situation in detail it's impossible to get advice for something like that on an Internet forum (or at least if you want accurate advice that is)

Drabarni · 23/10/2019 18:44

Why wait 3 years, much better for your child to leave now.

Original poster
BlueGingerale · 23/10/2019 18:52

Yes I’m planning to get myself a lawyer. Was just trying to get a feel from you guys first.

At the moment he’s unemployed so I don’t know how he can move out. And I’m certainly not selling the home until all kids have left school.

If he got a job I might ask him to leave sooner.

I just think mostly it will be simpler to get a divorce if we have no minors?

OP posts:
WhoKnewBeefStew · 23/10/2019 19:00

Not if she’s the only shareholder of a ltd company he won’t

If there's any assets etc, these maybe taken into account.

NeedAnExpert · 23/10/2019 19:05

They’d be assets of a company with a legal identity of their own separate to the OP.

user1479305498 · 23/10/2019 19:13

Make sure he isn’t a director at all and that stuff like websites etc that may be necessary for the company functioning (may not be as don’t know what you do) are registered to the company and not to you individually

Original poster
BlueGingerale · 23/10/2019 19:40

He isn’t a director. All websites etc are owned by the company.

I employ 2 members of staff full time. Company has a turnover of approx 100K. Makes a profit but off the top of my head can’t say how much.

Company is a software business so don’t think it really has any assets?

Should I register IP in my name?

OP posts:
filka · 23/10/2019 20:22

Three years is a long time to be planning. You need a lawyer and probably an accountant to look at all the options for protecting your business.

millymollymoomoo · 23/10/2019 20:24

Repost in legal as I think some of the advice here is incorrect

But you’ll definitely need a solicitor

Popcornfan2 · 23/10/2019 20:30

if no dependent children then usually be 50/50 on all assets but not a limited company where he is not a shareholder or plus any part in it. If he had shares it would be different.

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