Divorce lawyers prepare for a busy New Year

The New Year is traditionally a busy time for divorce lawyers, when prospective new clients call in with plans and queries about how to instigate a breakup.

Michelle Mone, co-owner of MJM International Ltd (including the Ultimo lingerie brand) is just one of the many business owners announcing a marriage breakup following the Christmas and New Year’s break. Divorce can be a complicated process, particularly for business owners such as Mone, who founded her company in 1996 with her husband of 19 years, and is one of the UK’s most successful businesswomen.

Due to the financial crisis many businesses are suffering. Among divorce lawyers there are competing theories about the effect of an economic downturn on relationship breakdown.

One is that at times of economic uncertainty, which can include negative equity, job security and the inability to fund two homes, couples are reluctant to introduce further instability into their lives by separating. The other is that the financial pressures of recessionary times can actually pressure some to strategically end a relationship in order to secure a more favourable settlement.

Business owners may not only be looking at the New Year dissolution of their marriage but also the division of their business assets. When quantifying what is in the ‘marital pot’, the value of any business asset is likely to be taken into account and it is essential that business owners are well informed about protecting and distributing their business assets during the difficult times of a separation.

For more information on divorce, separation or dissolution please contact our divorce lawyers, at Myers Lister Price Solicitors on 0845 0738 445 or email info@mlpsolicitors.co.uk