Many businesses are founded and run by a husband and wife team.
What happens to the business if they divorce?
The ‘clean break’ principle
The Family Court’s position is that whenever possible, there should be a clean break between ex-spouses. This means a property settlement, with the combined asset pool being broken into two chunks. When the assets include a business, the property split can take place in a number of ways…
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A story by Greg Parker for mybusiness.com.au