As discussed in previous issues of BVWire—UK, business valuation experts who do divorce work can anticipate increased inquiries. While HM Courts & Tribunals Service normally accepts about 2,000 applications for divorce a week, that number has increased to 3,000 since the Divorce, Dissolution and Separation Act 2020 came into force on 6 April.
Couples waited for the new act: The long-delayed change allows married couples (and their financial experts) to issue divorce proceedings without assigning blame. Only a statement of irretrievable breakdown is needed, and it also makes it possible to file for divorce jointly, so couples can submit a mutual agreement on all points, including the value of jointly owned business assets. Previously, the only alternative to blaming one partner of adultery, desertion, or unreasonable behaviour was to go through a period of separation.
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