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 home is registered in one spouse’s name?
- How will children’s housing needs be considered?
There is no single automatic outcome that 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 Southampton divorce solicitors can advise on the family home as part of the wider financial settlement.
Savings and Investments
Relevant financial assets may include:
- Bank accounts
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share schemes
- Other investments
Full and accurate financial disclosure can help establish the overall financial position before settlement negotiations progress.
Pensions
Pensions can represent a significant part of family wealth and should be considered alongside property, savings and investments.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit schemes
- Defined contribution pensions
- Public-sector pensions
- 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
A divorce financial settlement can become more complicated where one or both spouses own a company, operate a business, hold shares or receive income through a corporate structure.
Relevant matters can include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Company shares
- Commercial property
- Director remuneration
- Dividends
- Retained profits
- Share options
- Business valuations
Southampton City Council identifies the city’s maritime and logistics sector as a major part of its economy, alongside financial and professional services and a developing technology and innovation base. The council states that Southampton’s maritime and logistics sector contributes around £2.5 billion to the UK economy in a typical year.
Where the value of a company, partnership or shareholding is significant or disputed, independent accountancy or valuation evidence may sometimes be appropriate.
Spousal Maintenance
Some settlements involve ongoing financial support from one former spouse to another.
Whether maintenance is appropriate depends on individual circumstances, including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other available resources
- The wider financial settlement
Our solicitors can explain how maintenance may fit within your overall arrangements.
Consent Orders
Where separating spouses agree their financial arrangements, obtaining an appropriate court order can provide greater legal certainty.
Financial arrangements may address:
- Property
- Pensions
- Savings
- Investments
- Maintenance
It is important to consider formalising financial arrangements rather than relying only on an informal agreement.