If you’re going through a relationship property dispute, you’ll know that even though you’re fighting over money (or your other assets), there’s more than money to think about. When a business is involved, it’s even more complicated.
Having an angry ex-spouse is never fun, but however irrational they were prior to the split, they might be a whole lot more irrational now. You might be millions of dollars apart on what you think a business is worth, especially when there are other assets in the mix.
When things are emotional, it’s hard to cut a deal that everyone thinks is fair, and sometimes the best thing to do is have someone come in from outside.
What has value?
Usually when a business is involved in a relationship property dispute, you’ll need a valuation. But that doesn’t mean there’s just a one-off payment for the shares and you’re done. There are a lot of moving parts, and it’s hard to weigh up the value of some of those things.
If all your income in a relationship has come from a business (or group of businesses), should there be disparity of income payments? Or a lump sum share purchase? What if the businesses were affected by some global economic problem at the date of valuation (not naming names, covid)? What if there are lifestyle benefits for whoever keeps the business? What if the business has sentimental value to you both?
Getting to an agreement
Obviously, relationship property agreements are (usually) more complicated than normal shareholder disputes, and we might need to be more involved in the process. This can mean attendance at mediation to help cut through to the issues, or appearing in court.
Because we’re pretty quick at cutting through the emotion and getting to the crux of the deal, we’re told that we’re really helpful in getting to a deal that works for everyone.
Next steps
If you need a bit of help pulling together ideas of how you’re going to get yourself untangled from your spouse or partner, we’re happy to have a confidential, complimentary catch up to see if we’re a good fit.
