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Thomas
Thomas, Solicitor
Category: UK Family Law
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Experience:  BA (Hons), PgDip, Practising Solicitor
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Would my wife be entitled to 50% of my share in the value of

Resolved Question:

Would my wife be entitled to 50% of my share in the value of my business, which i have worked alone in?
Submitted: 3 years ago.
Category: UK Family Law
Expert:  Thomas replied 3 years ago.

Hi

Thanks for your question.

To enable me to answer your question could you please respond to the following:-

  • 1. How long have you been married?
  • 2. Do you run your business as a sole trader/partnership/limited company or other

Kind regards.

Tom

Customer: replied 3 years ago.
I have been married for 20yrs. My business is a limited company , was in financial services.
Expert:  Thomas replied 3 years ago.

Hi,

 

Thanks for your Reply/.

 

A marriage of your length is classed as a long marriage for the purposes of determining the financial settlement of the matrimonial assets pursuant to divorce. There is a presumption that each party retains a 50% share in the assets of the marriage, this can be rebutted so that one party receives greater than 50% if (most commonly and to a greater extent) there are minor children of the marriage who are to reside with one resident parent or (to a much lesser extent) if there is a large disparity between earning capacities of the parties or where one requires more in order to cope with the financial burden of living with a health condition.

 

If these do not apply to you then one would not expect a court to depart far at all from 50% of the matrimonial assets. This means that she would be entitled to argue that 50% of the value of the shares be taken in to account in determining what is a fair financial settlement. It does not mean that she would get the shares obviously, but the value would be included in coming to a calculated settlement.


Sorry it could not be better news.

 

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I will answer your follow up questions you may have.


Kind regards,


Tom

 

Thomas, Solicitor
Category: UK Family Law
Satisfied Customers: 6305
Experience: BA (Hons), PgDip, Practising Solicitor
Thomas and 2 other UK Family Law Specialists are ready to help you

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