The Family Home
The family home is often one of the largest assets involved in a divorce.
Common questions include:
- Does the property need to be sold?
- Can one spouse remain there?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if only one spouse legally owns the property?
- How will children’s housing needs be considered?
There is no single automatic outcome.
Possible arrangements may include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Considering the property’s value alongside pensions or other assets
Our Newport divorce solicitors can advise on the family home as part of the wider financial settlement.
Savings and Investments
Relevant financial assets can include:
- Bank accounts
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share arrangements
- Other investments
Accurate disclosure can help establish the overall financial position before negotiations progress.
Pensions
Pensions can represent a substantial part of family wealth.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit pensions
- Defined contribution schemes
- Executive pension arrangements
- Other retirement benefits
Pensions should not be overlooked simply because they cannot currently be accessed.
Where schemes are valuable or complicated, specialist pension advice may sometimes be appropriate.
Business Assets
Divorce can become more complicated where one or both spouses own a business, have shares in a company or receive income through a business structure.
Relevant matters may include:
- Limited companies
- Partnerships
- Family businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Newport has a varied commercial base. Newport City Council identifies manufacturing, industrial premises, warehousing and distribution, business parks, technology and research sites among the types of commercial activity supported across the city. The council also highlights local workforce expertise in areas including aerospace, engineering, electronics, telecommunications, IT and financial services.
Where business value or income is significant or disputed, independent accountancy or valuation evidence may sometimes be appropriate.
Spousal Maintenance
Some financial settlements involve ongoing financial support from one former spouse to another.
Whether maintenance is appropriate depends on circumstances including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other available resources
- The overall settlement
Our solicitors can explain how maintenance may fit into the wider financial arrangements.
Consent Orders
If you and your former spouse agree how your finances should be divided, a consent order can provide greater legal certainty.
It can deal with:
- Property
- Pensions
- Savings
- Investments
- Maintenance
The court cannot approve the consent order before the conditional order, and the order only takes effect after the final order.