The Family Home
For many couples, the family home is their largest financial asset.
Common questions include:
- Will the property need to be sold?
- Can one spouse remain there?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if only one spouse legally owns the property?
- How will children’s housing requirements be considered?
Possible arrangements may include:
- Sale of the property
- Transfer to one spouse
- Refinancing
- One spouse remaining in the home
- Offsetting the property’s value against another asset
The appropriate approach depends on the overall financial circumstances.
Savings and Investments
Relevant financial assets can include:
- Bank savings
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share schemes
- Other investments
Accurate financial disclosure can help establish the overall financial position before settlement negotiations progress.
Pensions and Divorce
Pensions can represent a substantial part of family wealth.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit pensions
- Defined contribution schemes
- Executive pensions
- Other retirement benefits
Pensions should not be overlooked simply because benefits may not yet be accessible.
Where pension arrangements are particularly valuable or complicated, specialist pension advice may be appropriate.
Business and Professional Interests
Some divorce settlements need to consider business or professional interests.
These can include:
- Limited companies
- Partnerships
- Professional practices
- Owner-managed businesses
- Company shares
- Commercial property
- Director remuneration
- Dividends
- Retained profits
Winchester City Council describes the wider district as having more than 8,200 business enterprises, with strengths spanning digital and technology, professional and knowledge-based work, tourism, hospitality, agriculture and other sectors.
Where the value of a company or partnership is significant or disputed, professional valuation evidence may sometimes be required.
Spousal Maintenance
Some divorce settlements involve ongoing financial 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 resources
- The wider settlement
Our solicitors can explain how maintenance may fit into your overall financial arrangements.
Consent Orders
Where separating spouses reach agreement about their finances, a consent order can formalise the terms.
It may address:
- Property
- Pensions
- Savings
- Investments
- Maintenance
A consent order provides greater legal certainty once approved by the court.