The Family Home
For many couples, the family home is one of their largest financial assets.
Common questions include:
- Does 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 only one spouse owns the property?
- 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
- Considering the property’s value alongside pensions or other financial assets
Our St Albans divorce solicitors can advise on the family home within the wider financial settlement.
Savings and Investments
Financial assets may include:
- Bank accounts
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share schemes
- Other investments
Full and accurate financial disclosure can help establish the overall financial position before settlement negotiations progress.
Pensions
Pensions can represent a substantial part 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 the benefits cannot currently be accessed.
Where arrangements are 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, hold company shares or receive income through a corporate structure.
Relevant matters may include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Professional practices
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Share options
- Business valuations
Current economic analysis published for St Albans identifies the district as having a particularly entrepreneurial business base. It reports that St Albans has more businesses than any other Hertfordshire district, with around 24% of businesses in professional, scientific and technical activities and approximately 11% in information and communications.
This makes company ownership, consultancy income, professional partnerships, shares and other business interests potentially relevant in some local divorce settlements.
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 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
Where separating spouses agree how finances should be divided, a consent order can provide greater legal certainty.
It can address:
- Property
- Pensions
- Savings
- Investments
- Maintenance
A consent order must be approved by the court to become legally binding. The court cannot approve it before the conditional order, and it only takes effect after the final order.