Why it’s important to be honest in divorce proceedings

When a marriage breaks down and is headed for divorce, both parties are encouraged to be fair and honest with each other regarding their finances. This allows for the court to reach a settlement which is reasonable. There is a temptation for spouses to misdirect their partner and the courts over the value of their assets, but as two recent cases show this is rarely a good idea.

Sharland and Gohil

An example of the importance of being honest about your finances is the case of Sharland and Gohil. These two high-profile cases involved divorce claims which were brought back to court on the basis that finances were deliberately concealed and the court misled.

Do I need to give my employee a contract?

In the UK it is a legal requirement that if someone is working with you for longer than two months that you provide them with a written statement of their terms and conditions of employment. While this is not an employment contract, it does include lots of information about the working relationship such as payment, shift patterns, working location and holiday entitlement.

A written contract expands on these key points and tailors them towards your business needs, providing you with security and recourse should things go wrong. So it is a smart decision for businesses to provide their employees with a written contract.

How to limit the damage to your business from divorce by planning ahead

One of the biggest mistakes that you can make as a business owner is to not give your company adequate protection against a marital breakdown. Business entrepreneurs often put in place contingency plans for a number of different scenarios from insurance for fire and disasters to company policies which prevent data theft and cyber attacks. Why then do so few businesses prepare for what will happen to their business if a business owner’s marriage breaks down?