A divorce — or the end of any serious breakup, for that matter — is a very difficult experience, and the process itself can be challenging for many reasons. Aside from the emotional unrest of your marriage ending, the division of assets in divorce can also be tough and often a powderkeg for hostility.
Every divorce is different and therefore will require a unique approach, this is why you should always seek the help of a competent and experienced family lawyer. They will be able to guide you through the divorce process and give you the best possible chance of a quick and satisfactory resolution.
On this page, we’ll provide you with essential information regarding the division of assets in divorce, and advise you on the best approach to suit your situation.
A prenuptial agreement is a document that many couples draft up before getting married so that, in the event of them breaking up, they have a plan for how assets will be divided. While this may not be the most romantic of ideas, it can save a lot of time and hassle if your marriage does happen to come to an end.
Your family lawyer will be able to draft up a prenuptial agreement for you, or another option is a postnuptial agreement for couples who want to do the same thing but are already married. You can find more information about this on our prenuptial agreements page.
If you’re someone who doesn’t have a prenuptial agreement in place, you can skip that step, but it’s worth keeping in mind for the future.
Agreed Financial Settlement
Divorces can get very messy. It tends to put a lot of pressure on both parties, which can lead to hostility. While it may seem difficult to reason with your former partner, when it comes to the division of assets in divorce, an agreed financial settlement is a quick and more straightforward option for both of you.
This means you will be able to keep things out of court, therefore saving yourself the expense of extra court fees and having to pay your family lawyer throughout a lengthy divorce. If you want to make your financial agreement legally binding, you can do so by getting your divorce solicitor to draft a consent order for the courts to approve.
For more information on financial settlements, head to our divorce process financial settlements page.
When the Court Decides on Division of Assets
If you’re unable to agree with your former partner about the division of assets or believe that the settlement they are offering is unfair, you can let the courts decide for you. The judge will take a wide range of things into account about both yourself and your ex-partner, such as:
- Your ages
- How capable you are to earn money
- How much property and money is involved
- The cost of living expenses
- Your expected standard of living
- Your contributions to the marriage
- Any assets you had prior to the marriage or other ring-fenced assets
A judge will always look for the fairest way to divide the assets available to the couple based on the circumstances above, with complete neutrality. It’s also worth noting that, if children are involved, it’s always the priority of a court to make sure their wellbeing and arrangements are taken care of first. Divorces can be extremely tough for children both during and afterwards, so ensuring they are taken care of in the future is essential.
How Your Family Lawyer Can Help
The decision to get divorced isn’t an easy one, and the process itself can be complicated, so it’s not something you should face alone. Here at KMJ Solicitors, we have a brilliant team of London family lawyers who specialise in all areas of family law. With such a vast range of knowledge and experience, we can help to make your divorce as quick and hassle-free as possible.
The division of assets in a divorce is something that should always be handled by a divorce solicitor who specialises in family law. This will give you the best chance of getting a fair share of the accumulative assets and ensure that you have financial stability after your marriage has ended.
Are you getting divorced and need advice or assistance with the division of assets? We can help. KMJ Solicitors is a team of experienced and knowledgeable family lawyers who specialise in a wide range of matters pertaining to family law. Get in touch today for a FREE no-obligation consultation.