Guide to money & property
Money & property when seperating
We aim to give clear and positive advice to assist you in reaching a fair and cost effective solution to the financial issues arising upon separation.
We have specialists in resolving complicated and high net worth cases. Whatever your financial circumstances, a member of our family law team will be able to assist.
Dividing assets
This section will deal with the liquid assets of the relationship and the theory behind their division.
Following the House of Lords decision in White v White, HL (2000) 2 FLR 981 and subsequent cases the court has decided that the main objective to be achieved when apportioning capital assets between parties should be one of fairness.
Although the Judges did not decide that the starting position should be one of equal division, but in practice it is recommended this should be considered and departed from only if there is good reason.
The court has reinforced the need to apply the criteria set out at S25(2) of the Matrimonial Causes Act 1973 (as amended). It is on this basis that we will assist you in the consideration of and negotiations necessary to fairly divide the marital assets.
Both parties will be required to disclose all their assets.
Valuations of those assets and details of all liabilities (e.g. mortgages) will be obtained.
Once we have full information we will then advise on the most appropriate division of assets.
We may refer you to outside experts for advice on the following issues:-
- Life and endowment policies - we may need advice from Independent Financial Advisors or our in-house investment services team on the merit of keeping, transferring or cashing in policies or the cost of replacing the same.
- Business and shares - we may need tax and valuation advice from accountants regarding any business interests (i.e directorships and/or shareholdings) of either party or the assistance of our corporate team regarding the long term implications of any decisions made.
- Pensions - Please see the separate section on this special issue.
Most cases do result in an agreed settlement rather than a court imposed order, although it may be necessary in certain cases to commence court proceedings in order to obtain sufficient information to enable a negotiated settlement to be achieved.