The Family Home
For many couples, the family home is their largest financial asset.
Common questions include:
- Will our home need to be sold?
- Can one spouse remain in the property?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if the property is registered in one spouse’s name?
- How will children’s housing needs be considered?
There is no automatic solution that applies to every divorce.
Possible arrangements can include selling the home, transferring ownership, refinancing or considering its value alongside pensions, savings and other financial assets.
Our Ely divorce solicitors can advise on the family home as part of your wider settlement.
Savings and Investments
Financial assets can include:
- Bank savings
- ISAs
- Shares
- Investment funds
- Bonds
- Managed portfolios
- Employee share arrangements
- Other investments
Full financial disclosure can help establish the complete financial picture before settlement negotiations progress.
Pensions
Pensions can represent a substantial proportion of family wealth, particularly after a longer marriage.
They should not be ignored simply because pension benefits may not be immediately accessible.
Relevant arrangements can include:
- Workplace pensions
- Personal pensions
- Defined benefit schemes
- Defined contribution schemes
- Executive pensions
- Other retirement benefits
More complicated pension arrangements may require specialist pension or actuarial advice.
Business Assets
Some divorce settlements involve questions about whether one former spouse should provide ongoing financial support to the other.
Whether spousal maintenance is appropriate depends on the individual circumstances, including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other available resources
- The wider settlement
Our solicitors can explain how maintenance may fit into your overall financial arrangements.
Spousal Maintenance
In some circumstances, financial support from one former spouse to the other may need to be considered.
Whether maintenance is appropriate will depend on factors specific to the parties and their financial circumstances.
Consent Orders
An informal financial agreement does not provide the same certainty as a court-approved order.
Where you and your former spouse have reached agreement, a consent order can formally record the terms.
It may cover:
- Property
- Pensions
- Savings
- Investments
- Maintenance
- Other agreed financial arrangements
A judge will consider the proposed order before approving it, and once effective it provides a legally binding framework for the agreed settlement.