Division of property on marriage breakdown

The best way to protect your business during a divorce is to designate it as separate property in a prenuptial agreement. Your pre-nuptial agreement will serve as a protection because it ensures that your business is still a separate entity no matter how much your spouse contributes.

No, a limited company is not protected from divorce. Business assets such as shares in a limited company, assets owned as a sole trader, or an interest in a partnership can be considered part of your divorce financial proceedings.

Yes, a business is considered marital property, especially if acquired during the marriage and with joint funds. If this is the case, then its value should be shared by the couple equally upon divorce.

When you separate or divorce, you could be forced to share the inheritance with your spouse if you are not careful with what you do with it. As long as you received your inheritance during the marriage, you can exclude the value of the inheritance you left on the date of separation from your net family property.

If you are legally divorced, then most likely, the division of all of your assets and debts occurred at the time of divorce, your ex spouse would have no right to property acquired after the divorce, including inherited money or personal property received after the divorce.

Future inheritances are not taken into account when dealing with the financial aspects of a divorce, but if it is expected that the person making the bequest will die in the near future, and if the inheritance is likely to be substantial, it may be.

Yes you can. What you can do now is for you and your wife to designate the second home as the matrimonial home, and register it as matrimonial home before the land registry office. After doing so, the first home that you purchased using your inherited money will no longer be considered a matrimonial home. In this case, you can now exclude the amount you paid to purchase the first home from the net family assets.

No. You cannot exclude an inherited property that was already used and no longer existing at the time of separation.