Family Solicitors – Running a business with your ex-partner


“The BBC News website reports on an American couple who went into business together seven years after their divorce. The man started the business and, recognising his former wife’s skills, decided she was the person to help him. Nevertheless he says he is reminded daily of why they divorced! This is an unusual situation and usually on divorce a husband and wife running a business together can no longer continue. One party takes over and buys the other out or the business is sold. If a buy-out is preferred a lump sum is paid on transfer of shares or stage payments are made depending upon the liquidity of the business. A key issue can be the valuation of the business and shareholdings and expert legal and accountancy advice is usually required to properly assess all the options”.

Nicola Furmston is a family law solicitor at , Suffolk Solicitors

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