What do you do if your spouse is director of a limited company and your separating?

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Limited company

My husband is a 50% director of his Ltd company, with his best friend holding the other 50% He is currently taking hardly any dividends out saying that he needs to keep it in the company as that means it doesn't become part of the divorce pot due to it being a limited company Is this correct, can ge do this? It seems unfair as he will definitely expect a share of my savings and surely that's what his retained monies in the company are?!

Ruth at 25.06.2021 21:45:37

Views: 299

Replies

Hi Ruth,

Thank you for your question. Your ex will need to disclose this when you split your finances. If you're planning on submitting a consent order, then all assets, debts, pensions and income will need to be included in the financial disclosure. A judge will decide whether the agreement you have come to is fair. Therefore if the split is not justified or seems unreasonable, a judge doesn't necessarily have to grant the order and may require further explanation. Book in a call with us and we should be able to assist you further.

Holly from amicable at 26.07.2021 11:03:35

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