The Family Home
For many families, the home is one of their most significant assets.
Common questions include:
- Does the property have to be sold?
- Can one spouse remain in the home?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if the house is in one spouse’s name?
- How will children’s housing requirements be considered?
There is no single outcome that applies automatically to every divorce.
Potential arrangements can include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Offsetting property value against pensions or other assets
Our Leeds divorce solicitors can advise on the family home as part of your wider financial settlement.
Savings and Investments
Financial assets can include:
- Bank savings
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share schemes
- Other investments
Full financial disclosure can help establish the overall financial position.
Pensions
Pensions can represent a substantial proportion of family wealth and should not be ignored simply because they cannot yet be accessed.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit pensions
- Defined contribution schemes
- Executive pension arrangements
- Other retirement benefits
Complex pensions may require specialist pension or actuarial advice.
Business Assets
A divorce can become more complicated where one or both spouses own a business, hold shares or have a professional partnership interest.
Relevant issues may include:
- Limited companies
- Professional partnerships
- LLP interests
- Family businesses
- Private company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Where value is disputed or significant, independent valuation evidence may sometimes be required.
Spousal Maintenance
Some financial settlements involve ongoing payments from one former spouse to another.
Whether maintenance is appropriate depends on issues including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other available resources
- The wider financial settlement
Our solicitors can explain how maintenance may fit into the overall settlement.
Consent Orders
If you and your former spouse reach agreement about your finances, a consent order can formalise the terms.
A consent order can cover:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Without court approval, an informal agreement is not enforceable in the same way as a legally binding consent order.