Some advice really

[ricky776]

Hello

Not really sure where to start.

Me and my long term partner are getting married next year we both in our early 30s no children but after seeing what a divorce can do to a business with a family member having this problem and losing everything I was wondering what could I do to protect my two companies ltd and a soul trader

I know this might look bad as I’m not looking at breaking up never even crossed our minds but I have built everything up over the past 10 years and we have been together for only 4-5 years

We are buying our first home together this year and I 100% agree that’s 50/50 but I was thinking should I get a prenup agreement where it says anything business related etc. is mine vans/offices etc. Everything else can be 50/50

I have spoken to my partner and she said 100% agrees that my businesses are mine should anything happen she wouldn’t want anything anyway as I have put the hard work in but agrees what I said with everything else

Again sorry to put a downer on this but I guess I would rather be safe then not to be

 

[STDFR33]

Is she a shareholder in any of the businesses?

 

[ricky776]

no nothing at all

 

[STDFR33]

So she has no direct interest in the company.

However, company shares in England, Wales and Northern Ireland are 'matrimonial assets' and are generally accounted for during divorce proceedings.
It's different in Scotland where I believe it is only shares held in companies set up or acquired after you were married.
I'm not sure whether or not a prenup will help - I'd recommend visiting a solicitor in this area of law.

 

[MT360]

Hi, there are a few ways you could add some extra protection in this situation.

One way might be to utilise a corporate capital trust. In essence, you need to transfer your equitable interest in the co, but retain control.

PM me and I will point you in the right direction.

 

[Newchodge]

This is a specialist area and you need formal legal advice.