Lawyers, mate about to divorce needs advice

[MaxAndRuby]

A mate of mine(really) is about to get divorced. He has a share of a company which he had prior to getting married. He believes that as the firm existed prior to him getting married, his wife will have no rights to any equity that he holds in this business. I'm sceptical, but offered to put it to the PH massive for their opinions.

Thanks in anticipation for any qualified views.

[FPC]

MaxAndRuby said:

A mate of mine(really) is about to get divorced. He has a share of a company which he had prior to getting married. He believes that as the firm existed prior to him getting married, his wife will have no rights to any equity that he holds in this business. I'm sceptical, but offered to put it to the PH massive for their opinions.

Thanks in anticipation for any qualified views.

WRONG! It's all in the pot for division, even if obtained pre-marriage.

[abdulaziz]

He's in for a rough ride

[MaxAndRuby]

FPC said:

MaxAndRuby said:

A mate of mine(really) is about to get divorced. He has a share of a company which he had prior to getting married. He believes that as the firm existed prior to him getting married, his wife will have no rights to any equity that he holds in this business. I'm sceptical, but offered to put it to the PH massive for their opinions.

Thanks in anticipation for any qualified views.

WRONG! It's all in the pot for division, even if obtained pre-marriage.

That's what I thought.

What happens if nearly all the guy's wealth is tied up in a company that he couldn't possibly liquidate in order to pay out?

[Flintstone]

Is this the latest 'ab@ and Jenney' thread?

[MaxAndRuby]

Flintstone said:

Is this the latest 'ab@ and Jenney' thread?

Seriously, it's a real life situation!

[Flintstone]

<Serious head on>

If it's that serious then wouldn't he be better off with a real, live solicitor rather than we pretenders of t'net?

[FPC]

MaxAndRuby said:

FPC said:

MaxAndRuby said:

A mate of mine(really) is about to get divorced. He has a share of a company which he had prior to getting married. He believes that as the firm existed prior to him getting married, his wife will have no rights to any equity that he holds in this business. I'm sceptical, but offered to put it to the PH massive for their opinions.

Thanks in anticipation for any qualified views.

WRONG! It's all in the pot for division, even if obtained pre-marriage.

That's what I thought.

What happens if nearly all the guy's wealth is tied up in a company that he couldn't possibly liquidate in order to pay out?

Parties argue over a valuation (accountants for ach side) then agreed sum gets added to the overall pot.

[MaxAndRuby]

FPC said:

MaxAndRuby said:

FPC said:

MaxAndRuby said:

A mate of mine(really) is about to get divorced. He has a share of a company which he had prior to getting married. He believes that as the firm existed prior to him getting married, his wife will have no rights to any equity that he holds in this business. I'm sceptical, but offered to put it to the PH massive for their opinions.

Thanks in anticipation for any qualified views.

WRONG! It's all in the pot for division, even if obtained pre-marriage.

That's what I thought.

What happens if nearly all the guy's wealth is tied up in a company that he couldn't possibly liquidate in order to pay out?

Parties argue over a valuation (accountants for ach side) then agreed sum gets added to the overall pot.

That seems logical, but what if he can't pay and there is no-one who wants to buy his shares?

[jeff m]

Not a lawyer, but.
I believe there is some protection for pensions.

[FPC]

jeff m said:

Not a lawyer, but.
I believe there is some protection for pensions.

No - pensions are in the pot as well. In fact, they are usually very contentious.

[Seight_Returns]

MaxAndRuby said:

That seems logical, but what if he can't pay and there is no-one who wants to buy his shares?

How is this any different from the thousands of poor souls getting divorced whose most significant joint possession is a house nominally worth £XYZk but in a market like today's with virtually no buyers and so no liquidity ?

[MaxAndRuby]

They also have a child together, anyone know of an average likely percentage split?

[Olivero]

MaxAndRuby said:

... any qualified views.

Drop me an email if your want the details of my (Very) good London lawyer.

[Flintstone]

MaxAndRuby said:

They also have a child together, anyone know of an average likely percentage split?

Arm and a leg each.

[MaxAndRuby]

Flintstone said:

MaxAndRuby said:

They also have a child together, anyone know of an average likely percentage split?

Arm and a leg each.

[FPC]

MaxAndRuby said:

They also have a child together, anyone know of an average likely percentage split?

Impossible to say depends entirely on circumstances (financial and relationship).