The business you marry into may not be the business you separate from.
What happens when a business that was relatively modest at the time of a marriage grows substantially over the years?
That’s one of the issues Briony Robertson, Partner and Head of Family Law at Taurus Legal Management explored in a recent interview with Pat Panetta on 3AW, discussing binding financial agreements and the role they can play in managing financial risk within a relationship.
Briony also discussed the separation of Lululemon founder Chip Wilson, noting that the significant growth of the business during the course of the relationship has become relevant to the couple’s financial circumstances as they now separate.
It’s a useful reminder for business owners that planning for relationship risk isn’t simply about protecting what you have today. It’s also about thinking carefully about what may happen as your business, wealth and circumstances evolve (and let’s not forget your Tupperware collection!).
A BFA can be an important part of that broader planning conversation, particularly where there is a business, family wealth or future growth involved.
Listen to Briony’s full interview below.
If you’re considering a BFA or want to understand how one may help manage financial risk within your relationship, contact our team to arrange a confidential discussion with Briony.