If you run your family-owned business and are thinking about a divorce, it's understandable to be concerned about the future of your company.
Every business and every family is different. Your family lawyer will advise you on the key features that apply in your case, and what options are open to you.
One consideration will be who owns the business. If you own the business outright, then it's more likely it will be treated as a matrimonial asset in your divorce. If the business is owned by you and other family members, and you have a minority shareholding for example, then it will be the value of your shareholding that is taken into account when negotiating a financial settlement. If other family members own the business and you're simply employed, then what you earn will likely be the focus.
If you do own your business with other people – whether family members or business partners – those other people could ask to be involved in your divorce. This is called “intervening”. It happens when those other people have an interest in the outcome of your divorce and want to protect that interest. People intervene for many different reasons, but there is a fairly standard procedure that has to be followed, which your lawyer will explain to you. Intervening is a costly and time-consuming process and specialist legal advice is essential to navigate this.