My son has separated from his wife after 20 years. We have put over £45,000 into his (successful) business over the years, and we’re now worried that his wife will be able to claim half of it if they divorce. Their children have now left home, and she has never worked.
A starting point in a marriage of this length is for the wife to receive half of the family assets on divorce. But there are no fixed rules: a court would look at a wide range of factors, including both spouses’ needs and the contribution each has made to the welfare of the family. The amount of money you have paid into the business could well be taken into account when it comes to determining the wife’s share, but the fact that she is capable of earning a living now will also be important.