The Family Home
For many couples, the family home is their largest financial asset.
Common questions include:
- Will our home need to be sold?
- Can one spouse remain in the property?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if the property is held in one spouse’s name?
- How will children’s housing needs be considered?
There is no single solution that automatically applies to every divorce.
Possible arrangements may include selling the home, transferring ownership, refinancing or considering its value alongside pensions, savings and other assets.
Our Durham divorce solicitors can advise on the family home within your wider financial settlement.
Savings and Investments
Savings and investment assets can form an important part of the overall financial position.
These may include:
- Bank savings
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share arrangements
- Other financial investments
Full financial disclosure can help establish the assets available before settlement negotiations progress.
Pensions
Pensions can represent a substantial proportion of family wealth, particularly following a longer marriage.
They should not be overlooked simply because the benefits may not be immediately accessible.
Relevant arrangements can include:
- Workplace pensions
- Personal pensions
- Defined benefit pensions
- Defined contribution schemes
- Executive pensions
- Other retirement benefits
Complex pension 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 matters can include:
- Limited companies
- Partnerships
- Family businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Where a business interest is valuable or disputed, independent valuation evidence may sometimes be required.
Our solicitors can advise on how business interests fit into the wider financial settlement.
Spousal Maintenance
Some cases involve questions about whether ongoing financial support should be provided 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 position.
Our solicitors can explain how maintenance may be considered alongside property, pensions and other assets.
Consent Orders
An informal financial agreement does not provide the same certainty as a legally binding court order.
Where both parties have agreed how their finances should be divided, a consent order can formally record the terms.
It can cover:
- Property
- Pensions
- Savings
- Investments
- Maintenance
- Other agreed financial arrangements
The agreement becomes legally binding once it has been approved by the court and takes effect in accordance with the applicable divorce stage.