The Family Home
For many couples, the family home is one of their most valuable assets.
You may have questions such as:
- Will our home need to be sold?
- Can I remain in the property?
- 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 requirements be considered?
There is no single outcome that applies automatically to every divorce.
Possible arrangements can include selling the property, transferring ownership, refinancing or considering the value of the home alongside pensions, savings and other assets.
Our Chelmsford divorce solicitors can advise on the family home as part of your wider financial settlement.
Savings and Investments
Savings, shares, investments and other financial resources may form an important part of the overall financial position.
Financial disclosure can help establish what assets exist and their value.
Our solicitors can advise on the disclosure process and help you understand how different financial resources may be considered during negotiations.
Pensions
Pensions can represent a substantial proportion of family wealth, particularly after a longer marriage.
They should not be overlooked simply because the benefits cannot necessarily be accessed immediately.
Depending on the circumstances, pension assets may need to be considered alongside property, savings and investments.
More complicated pension arrangements may require specialist advice or valuation evidence.
Business Assets
A divorce can become more complicated where one or both spouses own or have an interest in a business.
Relevant issues may include:
- Limited companies
- Partnerships
- Company shares
- Family businesses
- Business income
- Director remuneration
- Retained profits
- Ownership structures
- Business valuations
Where the value of a business interest is significant or disputed, specialist valuation evidence may sometimes be required.
Our solicitors can advise on business interests within the wider financial settlement.
Spousal Maintenance
Some divorces involve questions about whether ongoing financial support should be paid from one former spouse to another.
Whether spousal maintenance is appropriate will depend on the circumstances, including income, financial needs and the wider settlement.
Our family law solicitors can explain how maintenance may be considered alongside other financial arrangements.
Consent Orders
An informal financial agreement does not automatically provide the same certainty as a legally binding court order.
Where both parties reach an agreement, a consent order can formally record the financial terms and be submitted to the court for approval.
The agreement may deal with:
- Property
- Savings
- Investments
- Pensions
- Maintenance
- Other financial assets
Formalising the settlement can provide greater clarity about each person’s financial position after divorce.