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 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 its value alongside pensions or other assets
Our St Davids 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 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 pensions
- Other retirement benefits
Pensions should not be overlooked simply because they cannot currently be accessed.
Where pension arrangements are valuable or complicated, specialist pension or actuarial advice may sometimes be appropriate.
Business Assets
A divorce settlement can become more complicated where one or both spouses own a company, partnership or family business.
Relevant matters can include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Family businesses
- Holiday accommodation businesses
- Hospitality businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Pembrokeshire County Council’s long-term economic strategy highlights the importance of tourism, food and agriculture and traditional and emerging green-energy industries. The strategy notes that Pembrokeshire attracts millions of visitors and has a growing food and agricultural sector.
These local characteristics can make business valuation, seasonal income, commercial property and business ownership particularly relevant in some St Davids divorce settlements.
Where business value or income is disputed, independent accountancy or valuation evidence may sometimes be appropriate.
Spousal Maintenance
Some financial settlements involve ongoing support from one former spouse to another.
Whether maintenance is appropriate depends on the individual circumstances, including:
- Income
- Financial needs
- Earning capacity
- Housing requirements
- Other financial resources
- The overall financial settlement
Our solicitors can explain how maintenance may fit into your wider 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.