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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: UK Family Law
Satisfied Customers: 13405
Experience:  25 years experience of all aspects of family law
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My wife and I jointly own an s-corp in CO, although we

Customer Question

My wife and I jointly own an s-corp in CO, although we currently reside in he UK. She has not worked in the business for 3 years - at first due to an illness but has not returned due to communication issues between us. The business has a small amount of debt, but we have a lot of personal debt that has accumulated during our marriage. Our debts are mostly unsecured credit card debts. Last year we were living in the US and she took our son to the UK for a holiday (she is British). She refused to return home from holiday. After some negotiation I agreed to move to England as long as she agreed to support me getting a spousal visa and that we would work on keeping our family together and that she would not move for divorce for several years until I could get an unrestricted visa - in the meantime we would try to make it work. She started to threaten me with making me move out as soon as I arrived in the UK - which would invalidate my visa. We have been unable to sort out enough communication to allow us to work together and all the fighting has taken my energy away from running our business effectively. She is now saying that she wants to stay married for our sons sake, and that she is willing to sell me her half of the business. She has been talking about getting some kind of financial separation agreement so whereby I agree to take on the debts and she gives me her half of the business. She also wants me to sign a post-nuptial agreement specifying that her property in the UK is separate property. I'm not sure how this "financial separation" is separate from a post-nup which would only take effect if we divorced. I'm also not sure if an agreement giving me the business would stand up in court if she wanted a percentage anyways if we get divorced later in spite of whatever agreement we make now.
Is there such a thing as a financial separation short of divorce?
And would an agreement to buy her out of the business now keep it from being revisited in divorce proceedings later?
Submitted: 1 month ago.
Category: UK Family Law
Expert:  Clare replied 1 month ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

Where is the divorce (if there is one) likely to take place?

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