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> Share Business After Split
fats1964
post 14.8.2010, 8:28
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my wife and i are getting divorced without solicitors but through the courts

we have a business we have had for 10 years it doesnt make much

she was supposed to be signing it over to me or my son and she has changed her mind saying she needs all income from it for herself, this came yesterday as me and my son were making plans



what can i do without costing much money?

we are all on tax credits as the business is a low earner

i need to move quick as the small amount of earnings was all i had with my tax credits

she has said she might have me removed by police, the business is in her name as a sole trader, but was started together and always run together

we have already sorted other things such as the house



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sufar999
post 16.8.2010, 16:13
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QUOTE (fats1964 @ 14.8.2010, 9:28) *
my wife and i are getting divorced without solicitors but through the courts

we have a business we have had for 10 years it doesnt make much

she was supposed to be signing it over to me or my son and she has changed her mind saying she needs all income from it for herself, this came yesterday as me and my son were making plans



what can i do without costing much money?

we are all on tax credits as the business is a low earner

i need to move quick as the small amount of earnings was all i had with my tax credits

she has said she might have me removed by police, the business is in her name as a sole trader, but was started together and always run together

we have already sorted other things such as the house


Hi, yes it will have to go through the courts, when you both signed the marriage certificate, you also signed a contract promising to share everything you own. The court will honour this contract, so if you can not come to an agreement between yourselves the court will do it for you, usually one party buys the other out and carries on, or if that is not realistic, you may have to sell the business and split the profits. If you can agree to something make sure everything is written down and signed by both parties, dated, etc...and keep copies
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