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 applying 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 Swansea 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 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
- Professional practices
- Company shares
- Commercial property
- Director remuneration
- Dividends
- Retained profits
- Business valuations
Swansea has a broad service-based economy. Current council figures show 108,000 employees working in Swansea, with almost 89% employed in service sectors. The city’s economic profile also records employment across financial and insurance activities, professional and technical services, business administration, health, education, retail, manufacturing and hospitality.
For business owners, directors and shareholders, divorce financial disclosure may therefore need to consider both the underlying capital value of a 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 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 cover:
- Property
- Pensions
- Savings
- Investments
- Maintenance
The court cannot approve a consent order until after the conditional order, and the order only takes effect after the final order.