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Will my business be taken into account in a divorce?

Yes, the value of a business will be relevant – this is a complicated issue and specialist legal and accountancy advice is required. The divorce courts rarely if ever order the sale of a business unless that is agreed. They and their lawyers try to assist the couple to arrive at a clean break and to separate their situations including business interests. To do that fairly the court needs to understand the value of the business and usually if this is not agreed there will be an independent report by a jointly appointed specialist accountant to assist on the value. This is then factored into the overall position of the couple and often the business owner will “buy out” the interest of their spouse to achieve a clean break. The other relevant consideration is if the business is inherited in which different considerations will apply – see this FAQ.

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