25/09/2024
Have you ever caught yourself wondering what happens to your business in the event of a relationship breakdown or divorce?
At Anchored Family Law, we're here to help you navigate this
process from beginning to end. Get in touch via the link in our bio
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Image Descriptions: 10 slides as follows.
Image 1: Cover image - a photograph of a white piggy bank on a desk with a wall calendar in the background, and books and a drink bottle either side. There is a light blue transparency over the image, along with the bright blue text Protecting your business in a separation, followed by smaller black text reading Swipe for more info, and a series of four right directional arrow heads. Lastly, the handle in black text
Images 2-9: Black text on a white background, with a light blue cropped Anchored Family Law at the right of the tile. A series of four right directional arrow heads toward the bottom of each tile. Lastly, the handle in black text toward the bottom left.
Text as follows:
Image 2: "Did you know the Family Law Act has a ‘four step process’ when dividing matrimonial and de facto asset pools? Here at Anchored Family Law, we are here to help you navigate this process from beginning to end."
Image 3: "First, the asset pool must be determined—even assets from before the relationship, or assets in individual names, or held in trust, or another company arrangement. This means your business is part of this matrimonial or de facto pool too, even if your spouse never worked in or on the business."
Image 4: "Second is considering various parties’ contributions. This includes both financial and non-financial contributions, as well as parenting and homemaker contributions."
Image 5: "Third, the future needs of the parties are considered. Could one party need greater or lesser than the other? Factors considered
could include things such as poor health and its impact on your ability to work, care of young children, and even family violence."
Image 6: "Finally, it is considered whether the property settlement is just and equitable. This is not always a 50/50 split. So what does this mean for you as a business owner?"
Image 7: "First, in the event you separate, your business is effectively ‘up for grabs’ in the settlement. And, depending on how the scales balance, that may mean you retain your business rather than another asset, or it may mean your business is sold so the assets of the business can be divided."
Image 8: "If the thought of this happening is worrying, there are steps you
can take prior to separation to protect your business. One of those steps is considering a Binding Financial Agreement which is also known as a BFA or a prenup (even though they can be made at any time, including after marriage)."
Image 9: Sound like something you want help navigating? We’re here for you. You’ll find our contact details on the next slide, or you can jump straight to the link in our bio and reach us there."
Image 10: Infographic with Anchored Family Law contact details
1. Book a free 15-minute consult to discuss your needs. Tap the link in our profile to book.
2. [email protected]
3. 03 7067 8496
4. anchoredfamilylaw.com.au