Your partner in entrepreneurial divorce
As a business owner, a divorce presents numerous challenges; not only personal and emotional aspects, but also business, financial and tax-related issues. The overlap between family law and corporate law requires specialised legal expertise across multiple areas. At Banning Advocaten, we provide this expertise under one roof. In the event of a divorce, we can provide you with the necessary legal advice to keep your business running.
What does divorce mean for business owners?
A divorce for business owners often goes beyond standard calculations of maintenance or division of assets.
The value of your business and/or maintenance must be determined, which can be more complex for business owners. It must be established to what extent your partner may claim (part of) the value of your business, depending on your marital property regime or prenuptial agreements and whether claims for spousal maintenance may apply.
For many entrepreneurs, their business is not only their source of income, but also their pension provision and largest asset.
A divorce can have immediate consequences for business operations, liquidity, and continuity. Employees, clients, suppliers, potential buyers, and financiers can be affected by the uncertainty surrounding a divorce.
Our experience with divorce for business owners
Challenges that business owners may face during a divorce include:
- Prenuptial agreements – preventive legal advice or explanation regarding the potential implications of existing prenuptial agreements in the event of a divorce
- Asset settlement – collaboration with financial advisors to determine an appropriate valuation method for shares and financing options, allowing settlement with your partner without endangering business continuity
- Tax optimisation – working with tax specialists to map out consequences and optimise tax opportunities
- Maintenance and determining business income – expertise in establishing needs and capacity based on future earnings
- Mediation and collaborative divorce – out-of-court solutions tailored for entrepreneurs to continue running their business
When should you consult a lawyer with experience in business owner divorce?
As a business owner, it is crucial to seek specialised legal assistance in a timely manner. Preventive advice can save you many problems and costs.
At the start of your marriage, it is important for entrepreneurs to proactively consider the scenarios in prenuptial agreements. These can protect your business against potential unwanted consequences of a future divorce. Without prenuptial agreements, any business assets acquired during the marriage fall into the marital community property.
During your marriage, changes may occur that make it desirable or necessary to adjust your asset regime or prenuptial agreements. Starting a new business, expanding business activities, or making significant investments are times when reassessment and review of asset implications, whether married in community of property or under prenuptial agreements, is valuable. Regular analysis to ensure the current situation still meets your needs deserves careful attention.
At signs of relationship problems, it is wise to seek discreet legal advice. Many business owners wait too long, causing options to disappear and legal and tax positions to deteriorate. Seeking advice early gives you control.
During a divorce, specialised guidance is indispensable. The choices between different dispute resolution methods can have major consequences for your business. Mediation or collaborative divorce can limit financial damage compared to costly and time-consuming legal proceedings, where the desired outcome is not always guaranteed.
The combination of corporate law and family law requires a multidisciplinary approach, which we at Banning Advocaten can provide as we cover multiple legal areas under one roof.
Our approach
At Banning Advocaten, we adopt a structured and strategic approach for divorces involving a business.
In the first meeting, we analyse both your personal and business situation. We assess which businesses are involved, how financing has been handled, ownership structures, and the potential impact of a divorce.
We discuss a strategy with you that takes both personal and business interests into account. We advise you on the most suitable approach: mediation, collaborative divorce, or how to conduct court proceedings if required.
In complex divorces, we frequently work with external independent experts, such as business valuers or tax advisors. We coordinate this process, ensuring that all aspects are carefully and expertly considered during negotiations or court proceedings.
Our goal is to achieve a sustainable and realistic solution that protects your business and allows you to focus on your entrepreneurial activities.
Why choose our lawyers with expertise in business owner divorce?
Entrepreneurs choose the specialised divorce lawyers at Banning because of:
- Specialisations – We specialise in family and inheritance law where business owners are involved
- Experience with business owners – Our firm advises and guides entrepreneurs and understands the specific challenges of running a business
- Business continuity first – Our approach focuses on safeguarding your business continuity during a divorce
- Multidisciplinary team – A combination of family, inheritance, and corporate law lawyers under one roof
- Rapid response – We can act quickly if measures are needed to protect your business interests
- Network of experts – Collaboration with independent business valuers, tax advisors, and other specialists to make responsible and accurate decisions
- Preventive approach – Advice prior to marriage or on the interpretation of marital property law in relation to division, community property, or prenuptial agreements, to provide a realistic understanding of future legal and financial decisions
- National practice – Offices in 's-Hertogenbosch and Amsterdam for optimal accessibility
- Results-oriented approach – Focused on practical and implementable solutions
- Legal support for entrepreneurs: for valuations for divisions or settlement claims, insight into financial statements and cooperation with independent financial advisors (possibly in relation to maintenance obligations) is important
- Mediation/Dispute resolution: Cases are regularly presented to one of our family law lawyers in their role as mediator, or in more complex matters, co-mediation, where each party has their own mediator (possibly under a coach) and financial advisors to reach a suitable and sustainable arrangement
- Second opinion: it is possible to request a second opinion
- Assessment of success chances in court proceedings
- Cost-benefit analysis – We help you evaluate which approach is most effective given your specific situation
Are you struggling as a business owner with a complex divorce issue? Do not hesitate to seek our help. Contact our specialised lawyers for a free consultation regarding your situation. Schedule an appointment or explore our other services in corporate and family law.