Divorce and Dividing Assets
Divorce and Dividing Assets
Dividing assets upon divorce is not as straightforward as you might expect, and the court has a large discretion in deciding how the assets should be split.
There are many factors that will be taken into consideration, which are outlined in Section 25 of the Matrimonial CausesAct 1973. These include:
- The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future;
- The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
- The standard of living enjoyed by the family before the breakdown of the marriage;
- The age of each party to the marriage and the duration of the marriage;
- Any physical or mental disability of either of the parties to the marriage;
- The contributions made by each of the parties to the welfare of the family, including any contribution made by looking after the home or caring for the family;
- In the case of proceedings for divorce or nullity of marriage, the value to either of the parties to the marriage of any benefit (for example, a pension) which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.
The first factor the court and your solicitors will consider in determining how matrimonial assets are divided is the welfare of any dependent children under 18.
In addition, the Court will also factor in the idea that marriage is a partnership and therefore the results of that partnership should be shared, as well as whether one spouse should be compensated for the way financial affairs were managed during the marriage, which could have resulted in them missing out on the chance to accrue assets, income or pension provision.
Protecting your Business During Divorce
If you own a business then you will naturally want to protect it if you are going through a divorce, however it will not aid your case if you try to avoid future claims by moving assets or shareholdings.
If you are the sole owner of a business then if you get divorced the business will be treated by the courts like any other asset, in which case it may be divided and shared.
During divorce proceedings the business may be valued, the outcome of which could influence discussions in court. Your business may be scrutinised and its liquidity looked at to assess whether it can be used to meet the claims of the family.
At Rotheras we have the expertise to assist you with this specialised area of law and can also draw on the expertise of our commercial teams where needed.
We would always suggest seeking advice early so that you can best prepare yourself and gain an understanding of how the court process works and what you might plan to do to avoid an outcome you don’t want.
Why use Rotheras for Protecting your Assets during Divorce?
We will work with you to gather information on your financial position and that of your former spouse’s.
If you are a business owner we can advise on drawing up a pre or post-nuptial agreement to limit the claims your spouse can make against the business if you get divorced.
We can advise you on keeping your business assets and your private assets separate and draw on the experience of our commercial teams We can also advise on Matrimonial Home Rights which prevent a spouse from being evicted from the matrimonial home by the spouse who is legally entitled to occupy the property.
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“We handle clients with sensitivity and understanding throughout”
Head of Family Law
"Impressive group with expertise in both matrimonial finance cases and children matters. A strong childcare team handles cases involving physical and emotional abuse, as well as fatalities. Well versed in matters with international aspects, Hague Convention cases, as well as adoption and guardianship issues.
Chambers UK, 2018
Anton Balkitis frequently represents the operators of both goods and passenger vehicles in court proceedings. Clients remark: "He has a commercial understanding of real-life issues and will always provide a balanced view
Chambers UK, 2019
Impressive group with expertise in both matrimonial finance cases and children matters. A strong childcare team handles cases involving physical and emotional abuse, as well as fatalities. Well versed in matters with international aspects, Hague Convention cases, as well as adoption and guardianship issues.
Chambers UK, 2018
My previous dealings with Rotheras have always been excellent-total efficiency and professional. Jayne Smith previously and now Emily Weston. I would always use Rotheras as my solicitors. Thank you.
Chris Powell at Rotheras was recommended to us by a trusted associate within the Transport Industry; without doubt we wouldn’t have had the excellent outcome we did without his and his team’s involvement. The level of professionalism, expert advice and assistance was faultless; we felt reassured and well informed throughout the whole process. It was a pleasure to do business with him and would highly recommend his services!
Julian Brindley - John Brindley Ltd
The team at Rotheras, and Mr Powell in particular, have provided us with an outstanding service. We are extremely grateful for the help and support they gave us in dealing with issues relating to our transport operations and our goods vehicle operators licence. Mr Powell was professional, knowledgable, efficient and effective. He quickly understood our business and the problem we had. He responded with sensible advice and acted quickly on our behalf to resolve the matter. I cannot thank him enough for his help and I would recommend Mr Powell, and the Rotheras team, without hesitation. I am extremely grateful for the help they gave us.
Richard Hitchcock - Hitchcock & King
I would highly recommend James Briggs, solicitor at Rotheras. He has been extremely helpful, patient and thorough whilst helping me with affairs following the death of my husband. Even during lockdown (covid) he maintained communication and kept me informed of what was happening. He successfully achieved the outcome I needed and I would not hesitate to recommend him.
We are in the middle of launching our own packaging agency and contacted Rotheras for some professional legal advice with regards to contracts. After an initial call with Billy, he made it clear what we needed and asked plenty of questions to understand what it was we needed. He was very responsive to our questions, whether it be over the phone or via emails and made the process really simple. We had little experience in this area so it was fantastic to work with Billy, who explained everything concisely. We were also really pleased with the quick turnaround and great value offered. Would thoroughly recommend working with Rotheras.
Tom Burden, Director of Rightbox Ltd
Billy understood our requirement from the get go and really nailed down on what we needed in our commercial agency agreement. Billy kept us informed every step of the way and showed great professionalism. We would recommend his services to any start-up business who is in need of legal advice and guidance with commercial contracts.
Axl Barber, Sales Director of Rightbox Ltd
I was extremely pleased with the service that Kerry provided in order to sell my mothers house. Good, prompt communication and all questions dealt with or answered as requested. Consequently I would recommend yours services to others.
Anton has substantial experience acting for commercial goods hauliers and other transport operators. He advises on a range of contentious issues including operator licence, maintenance and tachograph matters, with a wealth of experience acting in public inquiries before Traffic Commissioners."Anton is a highly informed and personable lawyer.
Chambers UK, 2020
Chris Powell focuses his practice on road transport issues, regularly representing haulage, transport and logistics companies. He has considerable experience in regulatory matters involving operator licences and compliance failings, as well as more serious criminal investigations relating to fraud.
Chambers UK, 2020
Ann-Marie Bowman is Partner and Chairwoman of Nottingham based law firm Rotheras. Ann-Marie remains highly committed to her fee-earning work in Family law, dealing with all aspects of children matters.
Paul Cobb is Head of the Family department and is a family and matrimonial solicitor, specialising in collaborative law, at Nottingham-based law firm Rotheras Solicitors.
Rebecca Emeleus is Talent & Resourcing Partner at Rotheras Solicitors. Rebecca has over 25 years’ of litigation experience and is based within the family team in our Lace Market office.
Joanne Millward is a Family Law solicitor with over 30 years’ experience dealing in all areas of Family Law.
Sally Hartland is a Family, Matrimonial and Child Law specialist based at our offices in The Lace Market. Sally specialises and regularly represents both parents and grandparents in care proceedings.
Emma Adcock is a family and matrimonial specialist based at The Lace Market and West Bridgford offices.
Jasmine Jackson is a Solicitor in Rotheras’ Family and Child Care department and is based at our Lace Market Office.
Gabriella Kent is a Solicitor in Rotheras’ Family and Child Care department and is based at our Lace Market office.
Rebecca Lister is a Solicitor within our Family Department and specialises in children and child care proceedings, regularly representing parents during care proceedings.
Emily Sherwood is a Trainee Solicitor in Rotheras’ Family department and is based at our Lace Market office in the heart of Nottingham City Centre.
Sarah Singh is a trainee solicitor within Rotheras Family and Matrimonial Department and is based at the firm’s Nottingham Lace Market office.
Chris specialises in children matters and provides support to Ann-Marie Bowman.
Beccy Rodham is a Senior Paralegal in Rotheras Family Law department and is based at our Lace Market office.
Susan White is a Senior Paralegal in Rotheras Debt Recovery and Family Law department.
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