Financial Remedies on Divorce

Often one of the most valuable assets in a case, understanding the potential impact of sharing (or not) your pension within financial remedy proceedings is vital. It is important to seek clear advice on what can be done with your pensions on divorce and what each option means.

The general rule is that pensions that have been accrued during a marriage, to include any period of pre-marital cohabitation, should be shared equally. However, that is only a guide and it may often be appropriate not to share the pensions equally.

In some cases, the parties may prefer not to share the pensions and instead, for one party to receive a greater share of the capital in lieu of a pension investment. For example, it may suit the family for one party to retain the family home and for the other party to retain their pension instead of receiving a share in the family home.

We work closely with specialist pension experts to ensure that pension assets are properly valued and fairly considered within any settlement.

The family home is often both the most valuable asset and the asset clients feel most emotionally connected to.

Deciding what should happen to the family home following separation can be one of the most difficult aspects of reaching a financial settlement. While some couples agree to sell the property and divide the proceeds, others may wish to explore options that allow one party, or the children, to remain in the home.

Our team regularly advises clients on a wide range of property-related matters and can help you understand the options available to achieve a fair and practical outcome tailored to your circumstances, and put you in touch with our conveyancing team should this be appropriate.

Modern remuneration packages are increasingly complex and often extend far beyond basic salary and annual bonuses.

These concepts become more involved when they are no longer a simple cash salary bonus based on prior endeavour, but tied to future performance, continued employment or long-term business growth, and many schemes require a determination between income and capital treatment.

Many incentive schemes are designed in a way that relies on future endeavour, often to performance or retention.

For example:

• Restricted Stock Units
• Carried Interest
• Long Term Incentive Plans

Our team works alongside forensic accountants and financial experts where necessary to ensure these assets are properly understood and valued.

With values that can fluctuate vastly and transactions that may be more difficult to trace, cryptocurrency brings unique challenges to divorce proceedings. Understanding the asset and what that value might be is becoming essential for navigating modern financial disclosure.

Our team understands the practical and legal complexities associated with digital wealth and works with specialist experts when required.

Businesses frequently represent years of hard work and may provide both capital value and future income. Careful consideration must therefore be given to valuation, liquidity and the ongoing operation of the business.

We regularly advise:

• Company founders
• Directors
• Shareholders
• Family-owned businesses

We also have corporate, commercial, and employment departments who can assist in any follow-up work such as shareholders and separation agreements, to keep your services in one place.