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 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 Stoke-on-Trent divorce solicitors can advise on the family home as part of your wider financial circumstances.
Savings and Investments
Relevant 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 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 particularly 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 business, hold company shares or receive income through a corporate structure.
Relevant matters may include:
- Limited companies
- Partnerships
- Owner-managed businesses
- Family businesses
- Manufacturing companies
- Company shares
- Commercial and industrial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Stoke-on-Trent’s current economic strategy identifies advanced manufacturing, digital and crea-tech, and creative industries as important areas for growth. The city’s investment prospectus also highlights ceramics and advanced materials, health and life sciences, green technology and logistics as areas of economic opportunity.
For business owners, directors and shareholders, a financial settlement may therefore need to consider both the underlying value of the business and the income it generates.
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 financial resources
- The overall settlement
Our solicitors can explain how maintenance may fit within 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 matters including:
- Property
- Pensions
- Savings
- Investments
- Maintenance
It is important to consider formalising agreed financial arrangements rather than relying solely on an informal agreement.