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To have and to hold: Your company shares … even after the divorce
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As oil tycoon Harold Hamm is ordered to pay close to $1 billion to his wife making it one of the richest divorce settlements in history experts from MLP Law advise on five things all business owners should do to protect their companies and employees from the potentially devastating effects of divorce settlements.
It pays to insulate your business from divorce proceedings
Theo Hoppen head of family law at
MLP Law explains that you don’t have to be worth $18 billion like Harold and Sue Ann Hamm to take steps to ensure your business survives the break-up of your marriage:
'A shareholding in a business would in normal circumstances be treated as part of the pot of joint property held by a married couple and therefore one of the things that needs to be counted in the fair distribution of assets upon divorce.
However unlike a house...
Read the full article here.
