LEGAL VIEW
IN ASSOCIATION WITH:
• Companies: Addressing how the value of any shareholdings should be reflected in a settlement
• Liabilities: Determining responsibility for any shared financial obligations
• Pensions: Assessing pension pots and agreeing a fair division, often requiring actuarial advice
• Spousal and child maintenance: Agreeing on ongoing financial support, where appropriate
The significance of company assets
When one or both spouses hold interests in a business, the valuation of shareholdings and method of realising that value become central to negotiations. Issues that arise include:
• Valuation: Determining the true market value of a business
NEW YEAR, NEW START
Every January, family lawyers across the country brace themselves for a spike in divorce enquiries as people use the New Year to take stock of their lives, reassess relationships, and, for some, make the difficult decision to seek a new start.
Why January?
The festive season, with its heightened expectations and family pressures, can bring underlying tensions to the fore. By January, when the decorations are packed away and normality resumes, people are more inclined to act on long-standing doubts.
New Year’s resolutions often include ambitions for personal happiness and fulfilment, motivating individuals to address issues that may have been simmering for months, or even years. One of the consequences of these resolutions, is an increase in divorce enquiries, with Napthens’ family team seeing January rates double, compared to December and February.
You are not alone
This can be a frightening time for people as their lives suddenly take a different turn. It’s important
to note that while many people understandably feel they are venturing down this pathway alone, they have various avenues of support.
Family, friends, work colleagues and legal professionals who can provide emotional and practical advice to ensure people fully understand their options and the implications of each decision.
Key financial issues
Divorce is not just a matter of ending a marriage, but a huge financial event too. The process can feel overwhelming, but with the right guidance, it is possible to achieve fair and workable outcomes for all parties.
The main financial matters that need to be considered prior to divorce proceedings commencing, and resolved during those proceedings, include:
• Property: Deciding whether the family home and any other properties will be sold, retained, or transferred
• Bank accounts and savings: Splitting joint accounts, savings, and investments
• Liquidity: Assessing whether it is realistic to divide the business, whether the business can fund a settlement figure or whether offsetting value against other assets is preferable
• Continued operations: Ensuring the business remains viable as a going concern
An empathetic and supportive approach
Divorce is not just a legal transaction, but a life-changing event. Every person’s situation is unique, whether that involves protecting business interests, safeguarding family assets, or simply ensuring peace of mind for the future. Therefore, everyone needs tailored, empathetic support throughout the process.
If you find yourself contemplating significant changes in the new year, know that you are not alone and that with the right support, the path ahead can be navigated with dignity and clarity.
▸ Feature in the next issue of Lancashire
Business View Opportunities to raise your profile with 50,000 readers include:
▸ Business Essentials: Pensions and Retirement
For financial advisers, accountants, legal advisers and business owners.
▸ Business Growth: Landlords and Tenants
By Matthew Taylor, Partner, family team, Napthens
For landlords, agents, legal advisers, insurers and property professionals.
For advertising opportunities please contact Joanne Hindley on 07442 949697 or email
joanne@lancashirebusinessview.co.uk
Napthens Group has been supporting businesses and people with legal advice and guidance for more than 100 years.
As a group, we support a wide range of businesses and individuals across the north west and UK, helping them navigate the legal aspects of both life and business.
For more information on the range of legal services we provide, including guidance and support on navigating any changes to your family and marital circumstances, please use the QR code.
exposure
napthens.co.uk Online
8,000 Email
subscribers 30,000
Page views per month on
the website
37,500 Social media followers
LANCASHIREBUSINES SV
IEW.CO.UK
33
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76
