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 in the home?
- Can ownership be transferred?
- Who will continue paying the mortgage?
- What happens if the property is registered in one person’s name?
- How will children’s housing requirements be considered?
There is no single automatic outcome that applies to every divorce.
Possible arrangements can include:
- Selling the property
- Transferring ownership
- Refinancing
- One spouse remaining in the home
- Offsetting property value against pensions or other assets
Our York divorce solicitors can advise on the family home within the wider financial settlement.
Savings and Investments
Financial assets may include:
- Bank savings
- ISAs
- Shares
- Bonds
- Investment funds
- Managed portfolios
- Employee share arrangements
- Other investments
Accurate financial disclosure can help establish the overall asset position before settlement negotiations progress.
Pensions
Pensions can represent a substantial part of family wealth, particularly following a longer marriage.
Relevant arrangements may include:
- Workplace pensions
- Personal pensions
- Defined benefit schemes
- Defined contribution pensions
- Executive pensions
- Other retirement benefits
Pensions should not be ignored simply because the benefits may not yet be accessible.
Where pension arrangements are valuable or complicated, specialist pension or actuarial advice may sometimes be appropriate.
Business Assets
Divorce can become more complicated where one or both spouses own a business or have an interest in a professional partnership.
Relevant matters may include:
- Limited companies
- Partnerships
- Professional practices
- Family businesses
- Company shares
- Commercial premises
- Director remuneration
- Dividends
- Retained profits
- Business valuations
A business may represent both a capital asset and an important source of ongoing family income.
Where its value is significant or disputed, independent professional valuation evidence may sometimes be required.
Spousal Maintenance
Some divorce settlements involve questions about whether one former spouse should provide ongoing financial support to the other.
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
An informal financial agreement does not provide the same certainty as a legally binding court order.
A consent order can formally record agreed arrangements concerning:
- Property
- Pensions
- Savings
- Investments
- Maintenance
Once approved by the court and effective, it provides a legally binding framework for the settlement.