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 requirements be considered?
There is no single automatic outcome.
Possible arrangements can include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Considering the property’s value alongside pensions or other assets
Our Salford divorce solicitors can advise on the family home as part of your wider financial settlement.
Savings and Investments
Relevant financial assets may 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 before negotiations progress.
Pensions
Pensions can represent a substantial 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 pension arrangements
- Other retirement benefits
Pensions should not be overlooked simply because the benefits cannot currently be accessed.
Where pension arrangements are valuable or complex, 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, hold shares or receive income through a company structure.
Relevant matters can include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Company shares
- Professional practices
- Commercial property
- Director remuneration
- Dividends
- Retained profits
- Share options
- Business valuations
Salford City Council describes the city as having an established and growing business base of more than 11,000 companies, supporting over 160,000 jobs, with emerging specialisms including advanced manufacturing and specialised materials, AI and robotics, immersive technology and the creative and digital economy.
MediaCity and Salford Quays are particularly important to the city’s digital, creative and media sectors, while professional and financial services also form part of Salford’s broader commercial economy.
Where a business, partnership or shareholding is significant or disputed, independent valuation or accountancy 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 wider financial settlement
Our solicitors can explain how maintenance may fit within your overall financial arrangements.
Consent Orders
Where separating spouses agree how their finances should be divided, a consent order can make that agreement legally binding once approved.
A consent order can address:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Without a legally binding order, an informal financial agreement cannot be enforced by a court in the same way if problems arise later.