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 stay in the home?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if the property is registered in one spouse’s name?
- How will children’s housing needs be considered?
There is no automatic outcome that applies to every divorce.
Possible arrangements may include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the property
- Offsetting property value against pensions or other assets
Our Wolverhampton divorce solicitors can advise on the family home within your wider settlement.
Savings and Investments
Financial assets may include:
- Bank savings
- 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 meaningful negotiations take place.
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
- Executive pension arrangements
- Other retirement benefits
Pensions should not be overlooked simply because the benefits may not yet be accessible.
Where schemes are valuable or complex, specialist pension or actuarial advice may sometimes be appropriate.
Business Assets
A divorce can become more complicated where one or both spouses own or have an interest in a business.
Relevant financial matters may include:
- Limited companies
- Partnerships
- Family businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business equipment
- Business valuations
Where the value of a business is significant or disputed, independent professional valuation evidence may sometimes be needed.
Spousal Maintenance
Some financial 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 available resources
- The wider financial settlement
Our solicitors can explain how maintenance may fit into the overall arrangements.
Consent Orders
An informal agreement concerning finances does not provide the same legal certainty as a court-approved order.
A consent order can formally record agreed arrangements covering:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Once approved and effective, the consent order provides a legally binding framework for the settlement.