The Family Home
For many couples, the family home is one of their largest financial assets.
Common questions include:
- Will 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:
- Sale of the property
- Transfer to one spouse
- Refinancing
- One spouse remaining in the home
- Considering the property’s value alongside pensions and other assets
Our Nottingham divorce solicitors can advise on the family home as part of the wider financial settlement.
Savings and Investments
Relevant financial assets may include:
- Bank accounts
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share arrangements
- Other investments
Accurate financial disclosure can help establish the overall financial position.
Pensions
Pensions can represent a substantial proportion 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 particularly valuable or complicated, specialist pension or actuarial advice may sometimes be appropriate.
Business Assets
Divorce can become more complicated where one or both spouses own a business, hold company shares or receive income through a company or partnership.
Relevant matters can include:
- Limited companies
- Partnerships
- Professional practices
- Owner-managed businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Nottingham City Council’s current economic growth plan describes Nottingham as a major East Midlands economic hub with strengths in sectors including creative and digital industries, health and life sciences, low-carbon technology and advanced manufacturing.
This means some local divorce cases may involve financial arrangements extending beyond ordinary salary and residential property.
Where business value or income is significant or disputed, independent accountancy or valuation evidence may sometimes be appropriate.
Spousal Maintenance
Some settlements involve ongoing payments from one former spouse to another.
Whether maintenance is appropriate depends on individual circumstances including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other available resources
- The overall financial settlement
Our solicitors can explain how maintenance may fit into your wider arrangements.
Consent Orders
If you and your former spouse agree how finances should be divided, obtaining a consent order can provide greater legal certainty.
A consent order can deal with:
- Property
- Pensions
- Savings
- Investments
- Maintenance
An informal agreement is not legally binding in the same way, and the court cannot enforce it in the same manner if problems arise later.