The Family Home
For many couples, the family home is their largest financial asset.
Common questions include:
- Will the 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 home is registered in one person’s name?
- How will children’s housing requirements be considered?
There is no single automatic outcome that applies to every divorce.
Possible arrangements may include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Offsetting the property’s value against pensions or another asset
Our Lichfield divorce solicitors can advise on the family home within the wider financial settlement.
Savings and Investments
Financial assets can include:
- Bank savings
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share arrangements
- Other investments
Full and accurate financial disclosure can help establish the overall financial position.
Pensions
Pensions can represent a substantial proportion of family wealth, particularly after a longer marriage.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit schemes
- Defined contribution schemes
- Executive pensions
- Other retirement benefits
Pensions should not be overlooked simply because the benefits may not yet be accessible.
Complex pension arrangements may require specialist pension or actuarial advice.
Business Assets
Divorce can become more complicated where one or both spouses own a business or hold shares in a company.
Relevant issues may include:
- Limited companies
- Partnerships
- Family businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Where a company’s value is significant or disputed, independent professional valuation evidence may sometimes be required.
Spousal Maintenance
Some financial settlements involve ongoing financial support from one former spouse to another.
Whether maintenance is appropriate depends on the individual circumstances, including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other available resources
- The wider financial settlement
Our solicitors can explain how maintenance may fit into your overall financial arrangements.
Consent Orders
An informal agreement concerning money and property does not provide the same legal certainty as a court-approved order.
A consent order can formally record agreed arrangements relating to:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Once approved and effective, the order makes the financial agreement legally binding.