Our client, Mr X was a minority shareholder in a successful online retail company, valued in the region of £10 million.

He had ambitions to take control of that company but had recently separated from his wife so he was concerned about what would happen to his share of the business if he was to divorce in the future.

Mr X had plans to invest and grow the company significantly. He felt it was only fair that if he was taking the risk of taking out bank loans to fund the purchase of the company, not to mention the time, hard work and expertise he would devoting to the company, that his wife’s interest in the business should be limited and that she should not benefit from any increase in company value.

We were instructed by Mr X to advise him on ways to protect his interest in the company before he proceeded with the share purchase.

We were able to assist Mr X in negotiating a settlement with his wife and prepare a post-nuptial agreement which protected his shareholdings in the company. This allowed Mr X to proceed with the share purchase in the knowledge that his interest in the company would be ring-fenced if divorce proceedings should occur in the future.

If Mr X had not entered into a post-nuptial agreement it would have left him open to a claim by his wife on his share of the business, valued at the time of the divorce, which could have resulted in lengthy and costly court proceedings.

What is a Post-Nuptial Agreement?

Post-nuptial agreements are for those who are already married. It is a formal contract between spouses setting out how they wish for financial assets to be accounted for in the event that they separate. They are often used when the couple want to identify specific assets or funds that they do not think should be considered as “matrimonial”.

When should I consider getting a Post-Nuptial Agreement?

There are many circumstances where a post-nuptial agreement could be a good idea. The following are examples:

  • You entered into a pre-nuptial agreement before you were marriage but your financial circumstances have now changed
  • You are investing money accumulated prior to the marriage into a jointly owned property and want to protect this interest
  • You receive inheritance that you want to invest into joint assets
  • You have a share in a business which you want to protect

You can find more information about post nuptial agreements here.

Lupton Fawcett is a leading full-service law firm in Yorkshire. Our dedicated family lawyers can be reached at any of our offices in Leeds, Sheffield, and York.

Within every area of law, we put your interests first. if you are affected by any of the matters raised in our case study and would like more advice on prenuptial agreements, then call today or complete the enquiry form and we will get back in touch with you quickly.

Lupton Fawcett has long been recognised for our expertise in Family law and financial matters and we regularly act for clients across Yorkshire and throughout the United Kingdom including Bradford, Birmingham, Hull, Liverpool, London, Manchester, and Nottingham. We can support your needs wherever you live in England, Wales & Northen Ireland.

Please note this information is provided by way of example and may not be complete and is certainly not intended to constitute legal advice. You should take bespoke advice for your circumstances.

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