Life is too short to waste it on a relationship that no longer works for you. It’s not a case of working harder at it, it just doesn’t work anymore! So you make that very hard but liberating decision of ending it all. But then, there are legal issues to deal with. As if going through an emotional break up wasn’t … enough, you have the legal side of breaking up with someone you were emotionally involved with.
If you’re living with your partner, you are both legally binding in relation to the property you’re living in, but that might not be an issue anymore because you decide to move out and not deal with the stress of arguing in court who’s entitled to what. It is a lot more common than you can imagine, that one of the parties gets so stressed out both emotionally and mentally, that they will give up the fight before it even started.
But when you’re no longer emotionally attached to a person and your next discussion with them is void of any personal attachments, it will be like two strangers talking about their own interests. If you stopped a stranger on the streets and discussed your personal valuables and business interests, would you consider the interests of that stranger? Probably not. In a relationship that comes to an end, your personal interests and valuables are of no concern to the person you’re breaking up with. They’re busy looking after number one.
So before you have that awkward discussion after a break up, get legal advice from a solicitor. At least you can then say what you need to say, knowing fully well what you’re legally entitled to.
Now some couples share a life together both at home and at work because they’ve gone into business together. It all worked fine until the personal side of the personal/professional relationship suffered a diversion. People can be very grown up about it and protect professional continuity. But unfortunately, life isn’t that simple, ever! How many people do you know remain civil and gracious in relation to money after a break up?
If for instance, you are a manager or director of the company you started with your partner, do you have to resign? Is your partner legally entitled to sack you on personal grounds? You will need a lawyer to help you think about it with a fresh mind and be advised because you are now almost powerless, but legal knowledge gives you power.
Think about it, you’ve lost your partner, you’ve lost your home but… do you have to loose your job as well? And if that’s what you want, shouldn’t you have the opportunity to rebuild your professional life before it ends?
If you’re a shareholder you have many things to consider. Do you keep your shares, do you sell them? What are your options and risks? Remember that trust between you and your partner has broken down and your partner will be driven by emotion infused with resentment, and sometimes even revenge and a search for vindication. So you need to be empowered with legal knowledge.
Either you or your partner can buy out those shares but explore your own investments and the valuation of the company. You’ll need an estimate of your shares, as well as the value of the business, and consider also your fiduciary duty with the company.
Here’s some free valuable advice which is overlooked when people are generally wrapped up in flashbacks of a relationship that has come to an end:
For any legal advice, your first consultation is free, so please give us a call and let’s discuss issues surrounding your entitlements and legal rights. Our services are personable and we believe our clients are people, just as we at DG Law are people, we know how to be human, leave emotions out of the equation and empower you with legal knowledge. By Sandra Garcao
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