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 the property is registered in one spouse’s name?
- How will children’s housing needs be considered?
There is no single outcome that automatically applies to every divorce.
Possible arrangements may include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Considering the property’s value alongside pensions or other assets
Our Plymouth 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
Full financial disclosure can help establish the overall financial position before settlement discussions progress.
Pensions
Pensions can represent a substantial proportion of family wealth and should be considered alongside property, savings and investments.
Relevant arrangements can include:
- Workplace pensions
- Personal pensions
- Defined benefit pensions
- Defined contribution schemes
- Public-sector pensions
- Armed Forces pensions
- Executive pension arrangements
- Other retirement benefits
Pensions should not be overlooked simply because the benefits cannot currently be accessed.
Where pension arrangements are particularly valuable or complicated, specialist pension 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 corporate structure.
Relevant matters may include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Company shares
- Commercial property
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Plymouth has significant economic activity across marine and defence, advanced engineering, digital technology, construction, creative industries, health and business services. The council also identifies Plymouth as a major centre for marine science and technology and advanced manufacturing.
Where one or both spouses have business interests in these or other sectors, financial disclosure may need to consider both capital value and ongoing income.
Independent accountancy or valuation evidence may sometimes be appropriate where business value is significant or disputed.
Spousal Maintenance
Some divorce settlements involve ongoing financial support from one former spouse to another.
Whether maintenance is appropriate depends on the circumstances, including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other financial resources
- The wider financial settlement
Our solicitors can explain how maintenance may fit into your overall arrangements.
Consent Orders
Where separating spouses agree their financial arrangements, a consent order can make the agreement legally binding once approved by the court.
A consent order can cover:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Without a legally binding order, an informal agreement cannot be enforced by the court in the same way if problems arise later.