The Family Home
The family home can be one of the largest assets involved in divorce.
Questions can include:
- Will the property need to be sold?
- Can one spouse remain in the home?
- Can ownership be transferred?
- Who will be responsible for the mortgage?
- How will children’s housing needs be considered?
- What happens where there are several properties?
There is no single outcome that applies automatically to every family.
Possible arrangements may include sale, transfer, refinancing or dealing with the property’s value alongside other financial assets.
Savings and Investments
Financial assets can include much more than cash held in a bank account.
A settlement may need to consider:
- Cash savings
- Shares
- Bonds
- Investment funds
- ISAs
- Managed portfolios
- Employee share schemes
- Share options
- Other investment assets
Full financial disclosure is important when determining the overall financial position.
Pensions
Pensions can represent a substantial proportion of family wealth.
Depending on the circumstances, the financial settlement may need to consider:
- Workplace pensions
- Personal pensions
- Defined benefit schemes
- Defined contribution schemes
- Executive pension arrangements
- Overseas pensions
Complex or high-value pensions may require specialist advice or actuarial evidence.
Business and Partnership Interests
A divorce involving a business or professional partnership can require detailed financial analysis.
Relevant interests can include:
- Limited companies
- Professional partnerships
- LLP interests
- Private company shares
- Family businesses
- Start-ups
- Director remuneration
- Dividends
- Retained profits
- Business property
Where business value is relevant or disputed, specialist valuation evidence may sometimes be required.
Spousal Maintenance
Some financial settlements include questions about ongoing support from one former spouse to another.
Whether maintenance is appropriate depends on factors including income, needs, earning capacity and the wider financial circumstances.
Our solicitors can explain how maintenance may fit into an overall settlement.
Consent Orders
Where both spouses agree how their finances should be dealt with, a consent order can be used to ask the court to make those terms legally binding.
GOV.UK explains that financial orders can deal with assets including pensions, property, savings and investments.
Formalising an agreement can provide significantly greater certainty than relying solely on an informal arrangement.