Both parties are expected to make full and frank disclosure of all of the assets that they own. The court takes a very dim view of people who try to hide assets.
The Courts in England and Wales have a wide discretion regarding the division of assets. The law which governs this area is complex, and it is crucial that you take early advice from a member of our team who will be able to help you understand your options. We will explain the financial claims which can be pursed on your behalf and will discuss what is suitable for you based on what you want for the future.
The types of orders which the court can make are:
- spousal maintenance
- a sale or transfer of property
- a sale of business
- payment of lump sums
- a share of any pensions
We will discuss with you whether these claims are applicable to your circumstances. We will also explain the factors which are considered when working out how assets should be divided.
If you do not know the value of an asset, such as a property or a business, then arrangements can be made for there to be a formal valuation. If we are able to agree values with the other party then that might save the cost of an expert.
Once we understand the assets and their values, we will then consider your needs. It may be that you need a variety of orders to ensure that your future needs are met and to result in a fair distribution of assets between you and your spouse.
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