dd share of business

Here's hoping so seasider

Hi Gilly DD would prefer to remain in the business which is doing well and is her job. I have had a long discussion with SIL as has DD and he seems to be coming round to the idea now he is calmer. Still think DD needs to clarify her legal position and protect her interest but maybe it can be sorted amicably.

seasider

It was a very expensive mistake I made (basically trusting him - probably your daughter also trusted her husband to play fair). There's nothing you can do about ownership of the company but you can protect her right to income from it (that, he cannot keep all to himself as it forms part of the assets). You do need to move quickly - don't give him time to start moving assets about that ends up with your daughter needing a forensic accountant (which is what I would have needed) to track them down.

by making her a shareholder

If the husband is the sole, or majority, shareholder, it is unlikely that he would willingly put shares up for sale (and he is under no legal obligation to do so).

I just wonder if it is necessary for DD to have anything out if the business at all seasider Can things not continue the way they are or have things got too nasty? Perhaps making your DD's position within the company more secure legally, by making her a shareholder might be a better way forward. If the business is successful it would seem pointless to strip it bare when everyone involved could continue to do well out of it. Just a thought.

The fact your daughter was married should offer some protection seasider. I'd get some legal advice sooner, rather than later.

Sorry to hear that Hollydaze I suspect she will need a solicitor eventually but it is sad to go down that route.

If she wasn't a shareholder, then she has no legal ownership of the business (a trap I fell into).

I know solicitors are horrendously expensive but if the business is a successful one, then I would advise you find a law firm that understands this type of problem and ask for their advice (many will give a free 30 minute consultation so you have nothing to lose by that).

I suggest that your DD asks CAB for advice. I'm afraid that the advice will probably be that she needs to have a solicitor to sort out the complications of her financial involvement in the business. Alternatively, mediation might work, but any agreed settlement needs to be rubber stamped by the county court, for her own and the children's future protection.

If they have a legal battle over the business, the only winners will be the solicitors. I was divorced from my ex without using solicitors but there wasn't a business involved and the children were adults.

Perhaps someone on the forum may have more practical advice about the legalities of this situation but I think your DD has to keep trying to talk it through in a reasonable manner with your SIL.