Protecting Your Wealth

There are no legal ways of protecting your wealth when involved in divorce proceedings.

The process requires full disclosure and to “forget” or “avoid” mentioning or declaring assets will have serious consequences if found out.

All items of income (current and future such as pensions) and material assets must be declared to the court and the judge will decide how these are distributed after hearing the representations from both sides and taking into account the reasonable needs of each of the parties.

Future capacity to earn will also have a bearing on the final decision.

Negative wealth or debt must also be declared and the judge will make allowances for this and will seek that the settlement repays debts where possible

It is often thought that 50/50 is the guiding rule but this is not so. The judge will also consider needs and ability to meet needs before dividing the declared wealth. Major considerations will be children, future earning capacity and cost of suitable housing in the area.

There are guidelines but each case really is different and will need to be negotiated.

This is a job for an expert solicitor as the cost of getting it wrong, or conceding where it wasn’t necessary or justified can be high.

Get In Touch.

We can help you with all aspects of family law from children's issues, financial issues, divorce and separation to pre-nuptial agreements and family businesses. Get in touch today:

Diane Genders Specialist Solicitors
Resolution House
Crusader Road
Lincoln
Lincolnshire
LN6 7AS