The Family Home
For many couples, the family home is one of their largest financial assets.
Common questions include:
- Will the property need to be sold?
- Can one spouse remain in the home?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if only one spouse legally owns the property?
- How will children’s housing needs be considered?
There is no single automatic outcome.
Possible arrangements may include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Considering its value alongside pensions and other assets
Our Norwich divorce solicitors can advise on the family home within your wider financial circumstances.
Savings and Investments
Financial assets may include:
- Bank accounts
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share schemes
- Other investments
Accurate financial disclosure can help establish the overall financial position.
Pensions
Pensions can represent a substantial proportion of family wealth, particularly following a longer marriage.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit pensions
- Defined contribution schemes
- Executive pension arrangements
- Other retirement benefits
Pensions should not be overlooked simply because they cannot currently be accessed.
Where pension arrangements are particularly valuable or complicated, specialist pension or actuarial advice may sometimes be appropriate.
Business Assets
Divorce can become more complicated where one or both spouses own a business, hold company shares or receive income through a company or professional structure.
Relevant matters may include:
- Limited companies
- Partnerships
- Professional practices
- Owner-managed businesses
- Company shares
- Commercial property
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Norwich City Council describes the city as having a growing economy with strong creative, digital and technology talent, universities and research centres. Its economic analysis has also identified financial services, life sciences, advanced manufacturing, food and drink, digital, creative industries and knowledge-intensive business services among important growth sectors.
For separating business owners, directors or professionals, the financial settlement may therefore involve assets and income beyond ordinary salary and residential property.
Where business value or income is significant or disputed, specialist accountancy or valuation evidence may sometimes be appropriate.
Spousal Maintenance
Some financial settlements involve ongoing payments from one former spouse to another.
Whether maintenance is appropriate depends on individual circumstances, including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other financial resources
- The overall settlement
Our solicitors can explain how maintenance may fit into your wider financial circumstances.
Consent Orders
Where you and your former spouse agree how finances should be divided, a consent order can provide greater legal certainty.
A consent order can address:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Without a legally binding order, an informal agreement cannot be enforced in the same way if problems arise later.