
Could Your Business be Sold to Fund Divorce Settlement?
Could your business be sold to fund a divorce settlement?
A landmark Family Court ruling in LE v EL (2024) highlights the potential impact of divorce proceedings on family-owned businesses, with the court ordering the sale of a company to achieve a fair financial settlement.
In an article for Wealth Briefing, Anna Patsalides, Senior Associate in our Family department, and Toby Walker, Senior Associate in our Corporate & Commercial department, explore the implications of the judgment and why business owners should consider the potential impact of divorce when planning for the future.
The article examines how the court’s decision could affect business owners, the importance of considering business valuations and shareholder agreements, and how pre-nuptial and post-nuptial agreements may help establish how business assets are treated in the event of divorce.
With the potential for a business sale to have significant implications for its owners and operations, early planning can help protect both personal and business interests.
You can read Anna & Toby’s full article here: Could Your Business be Sold to Fund Divorce Settlement? – Wealth Briefing
Disclaimer: General Information Provided Only
Please note that the contents of this article are intended solely for general information purposes and should not be considered as legal advice. We cannot be held responsible for any loss resulting from actions or inactions taken based on this article.
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