The Family Home
For many couples, the family home is their most significant asset.
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 if the home is registered in one spouse’s name?
- How will children’s housing requirements be considered?
There is no single outcome that automatically applies to every divorce.
Possible arrangements may include selling the property, transferring ownership, refinancing or considering its value alongside pensions, savings and other assets.
Our Colchester divorce solicitors can advise on the family home as part of your wider financial settlement.
Savings and Investments
Savings, shares and other investments can form an important part of the overall financial position.
Relevant assets can include:
- Bank savings
- ISAs
- Shares
- Investment funds
- Bonds
- Managed portfolios
- Other investments
Financial disclosure helps establish what assets exist and their value before settlement negotiations progress.
Pensions
Pensions can represent a substantial proportion of family wealth, particularly following a longer marriage.
They should not be ignored simply because pension benefits may not be immediately accessible.
Depending on your circumstances, pension assets may need to be considered alongside property, savings and investments.
More complicated arrangements may require specialist pension or actuarial advice.
Business Assets
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
- Commercial property
- Business valuations
Where the value of a business is significant or disputed, specialist valuation evidence may sometimes be necessary.
Our solicitors can advise on how business interests fit into the wider financial settlement.
Spousal Maintenance
Some divorce settlements involve questions about whether ongoing financial support should be paid by one former spouse to another.
Whether spousal maintenance is appropriate depends on the individual circumstances, including income, needs, earning capacity and the wider financial settlement.
Our solicitors can explain how maintenance may be considered alongside property, pensions and other financial assets.
Consent Orders
An informal agreement concerning finances does not automatically provide the same protection as a legally binding court order.
Where both parties agree how their money and property should be divided, a consent order can be drafted and submitted to the court for approval.
A consent order can address:
- Property
- Pensions
- Savings
- Investments
- Maintenance
- Other agreed financial arrangements
Once approved and effective, it provides a legally binding framework for the agreed settlement.