Division of assets on divorce or dissolution

If you are going through a divorce or the dissolution of your civil partnership, all of your assets, both solely and jointly owned, will need to be taken into account and shared between you. This includes your family home, earnings, savings, pensions, personal belongings, investments and business interests.

We know that the uncertainty involved in splitting your assets can be stressful and we will work to make the process as easy as possible and ensure that you receive a fair share that gives you and your family the reassurance and support you need for the future.

We will explain the process and advise you clearly on what you can expect from the division of your assets. When children are involved, the Courts will always prioritise their needs. We will go through some of the possible options for making a financial agreement with you and discuss what your priorities are.

Our team includes members of Resolution, the family law group that promotes dealing with divorce and separation in a constructive way with a minimum of conflict. We work wherever possible to resolve issues by negotiation and agreement, without the need for Court.

Our services include dealing with:

• Dividing pensions on divorce or dissolution
• Dividing property on divorce or dissolution
• Dividing investments on divorce or dissolution
• Dividing a family business on divorce or dissolution

Our high level of expertise is the same as you would expect from a city firm, but with a personal approach and outstanding level of service.

If you require further advice or would like to discuss arranging an initial meeting with a member of our family team, please contact us on 01689 323 048 or fill in our Enquiry Form. Our divorce and financial solicitors are based in Orpington and we represent clients in London and across the South East.

For further information about our services, see our family law solicitors page.

Our division of assets expertise

Dividing pensions on divorce or dissolution

Pensions are often a major asset as well as being an important part of your security for the future. We will ensure that all pensions are properly valued, and we will advise you on the outcome you would like to achieve with the assistance of an actuary

There are several options for dealing with the splitting of pensions in divorce, which are as follows:

• Pension sharing, where all or part of one party’s pension is transferred to the other person, so that this person has control over it and can decide when to draw it
• Pension attachment order or pension earmarking, where a share of one person’s pension is paid to the other, but only when the pension holder decides to start taking their pension
• Pension offsetting, where one party keeps their pension and the other party has a larger share of other assets in return, such as the shared home

Dividing property on divorce or dissolution

Working out how to divide the family home can be difficult. The Courts will prioritise the needs of your children if you have any, so they may allow the person with their day-to-day care to remain in the property.

We will discuss your options with you and try to negotiate the result that you want. One party might be able to obtain a mortgage and buy the other out or the property could be sold and the proceeds shared.

Where the property is needed as a family home, it could be agreed that a sale is deferred until the youngest child reaches the age of 18.

Dividing investments on divorce or dissolution

Your investments and savings will be valued before negotiations begin and we will work to ensure you have a fair and reasonable share to provide the security you need.

Dividing a family business on divorce or dissolution

If you or your partner have an interest in a business, this will be treated as a matrimonial asset to be shared, whether this is as a sole trader or a larger organisation and whether or not the other person has been involved in the business.

The business will need to be valued, generally by a professional with relevant experience, such as an accountant. It is sometimes the best option to leave the business with the party involved with it if possible, awarding the other person a larger share of other assets instead.

Division of assets on divorce or dissolution FAQs

What happens to finances and family assets in divorce?

Splitting finances in divorce can be complex. If the Court is asked to decide, it will use a starting point of awarding you both equal shares, but other issues will be taken into account that could mean one party receives more than the other.

The needs of any children involved will be a priority. Following this, the financial needs of each party will be looked at. It may be that one party is in a weaker position, perhaps because they gave up work to raise a family, and the Courts may award them with a larger share of the assets if required to meet their needs.

A range of factors will be taken into account in making divorce financial settlements, including the following:

• Financial and accommodation needs of the children
• Financial and accommodation needs of the parties
• Their income and ability to earn in the future
• Their ages and any disability either party might have
• The length of the marriage
• The standard of living the parties enjoyed during the marriage
• Contributions made by each party to the welfare of the family, such as looking after the children and the home
• Any other information that the Court considers relevant

What am I entitled to in a divorce settlement?

Every situation is different and the Courts’ financial orders reflect this. The Court will aim to make an equal sharing of the assets and to ensure that both parties’ needs are met as far as possible.

The marriage is considered to be a partnership, with the job of raising children and taking care of the home as important as going out to work. It will also take into account the fact that by staying at home, one partner may have a lesser chance of building assets, contributing to a pension and moving up the career ladder.

Taking all of these factors into account means that a financial order will be tailored to the exact circumstances of each case, with no hard and fast rule setting out what you will receive.

Our family law team has many years’ experience in dealing with divorce and finances and we will be able to advise you on how a judge may divide your assets if the matter were in Court, which will allow you to get a picture of what you might expect to receive.

Do you need to go to Court to divide assets in during divorce?

It is not necessary to go to Court to achieve financial orders in divorce and we are regularly able to resolve matters satisfactorily without the need for litigation.

We have extensive experience in negotiating and we generally find that this is a good way of reaching the right division of assets to ensure that our clients have the financial security they need.

Where negotiation does not achieve a resolution, we can represent you through the mediation process. This is where your case will be put before a trained mediator who will help you and your partner to discuss options and explore different solutions.

It is generally the case that you must at least consider mediation before you ask the Court to intervene. This is done by way of a Mediation Information and Assessment Meeting, where a mediator will explain the process to you. You can decide whether to proceed with mediation or, alternatively, the mediator will sign a certificate confirming that mediation has been considered.

If it is possible to achieve an agreement without the need for a Court hearing, we will draft this into a consent order which is signed by the parties and approved by the Court. This will make the terms of your agreement legally binding for the future. This step is vital as, without a financial order of the Court, your former spouse or civil partner could make a claim against you in the future.

Consult our divorce and finance solicitors in Orpington

To discuss how our divorce and dissolution lawyers can advise and represent you in respect of the division of your assets, please contact us on 01689 323 050 or fill in our enquiry form.

Our divorce solicitors are based in Orpington and we represent clients in London and across the South East.