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 in the home?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if the home is registered in only one spouse’s name?
- 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 its value alongside pensions and other assets
Our Ripon divorce solicitors can advise on the family home within 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
Full and accurate financial disclosure can help establish the overall financial position before negotiations progress.
Pensions
Pensions can represent a significant proportion of family wealth, particularly following a longer marriage.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit schemes
- Defined contribution pensions
- Public-sector pensions
- Executive pensions
- Other retirement benefits
Pensions should not be overlooked simply because benefits cannot currently be accessed.
Where schemes are particularly valuable or complicated, specialist pension or actuarial advice may sometimes be appropriate.
Business Assets
A divorce financial settlement can become more complicated where one or both spouses own a business, operate through a partnership or hold company shares.
Relevant matters may include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Family businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
North Yorkshire Council describes Ripon as having an active business community and serving as an important service hub for surrounding rural communities. The council is also developing investment priorities focused on business growth, skills and affordable workspace.
Where business value or income is significant or disputed, independent accountancy or valuation evidence may sometimes be appropriate.
Spousal Maintenance
Some divorce settlements involve ongoing financial support 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 within your wider financial arrangements.
Consent Orders
Where separating spouses agree their financial arrangements, a consent order can provide greater legal certainty.
It can deal with:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Without a legally binding order, an informal financial agreement cannot be enforced by the court in the same way if difficulties arise later.