A well run family business can be both a hugely successful enterprise and a rewarding experience.
Where husbands and wives or civil partners work together in a family business, it makes good business sense to consider what might happen in the event that the relationship breaks down. It may be possible to take steps to protect the assets of the business by way of pre-nuptial agreements or post-nuptial agreements, or through shareholders’ agreements or discretionary trusts. These can also be considered for next generation relationships as a measure to mitigate the impact on the assets of the business in the event of a divorce or dissolution.