There may be a number of situations in which a third party may have an interest in the assets being divided on divorce. In certain circumstances, this third party may wish to defend their interest in the asset by intervening in divorce proceedings.

This may apply where:

  • A parent has provided financial assistance to their child (eg. to purchase the family home)
  • Business partners
  • Trustees

If you think that this may apply to you, it is important that you seek legal advice promptly to ensure that your interests are both recognised and properly protected.

Other considerations

Interveners proceedings can be expensive and create further costs for the parties divorcing.

There are civil cost implications if you are unsuccessful with your intervener application thus you must ensure you take advice concerning your risk of exposure to cost claims.

You will require independent legal advice to your son/daughter.

How can I protect the assets I am lending my daughter/son?

To ensure you have the best protection it is sensible to obtain legal advice prior to making the gift or loan.

Methods of protecting you assets could include:

  • Loan Agreement
  • Legal charge
  • Declaration of Trust
  • Holding property as tenants in common in unequal shares
  • Asking the parties to enter a pre or post nuptial agreement
  • Establishing a Trust
  • Shareholders agreement
  • Partnership agreement

When considering the options above you will need advice concerning tax implications. The family team at Howes Percival will always consult with our tax specialists to ensure comprehensive advice is provided. Advice from the commercial team or property team may also be necessary. This advice can be sought in one place, our office, at Howes Percival.

"Howes Percival LLP is ‘friendly and approachable, yet highly professional’."
- Legal 500

Get in touch

To contact us, please fill out this form and we will get back in touch as soon as possible. Your personal data will be processed in accordance with our privacy policy which can be found here.

Speak to one of our family lawyers about a free initial consultation
Legal insights
Related articles
Dominoes property
Protecting Your Interest When You Live Together and Buy Property

Senior Associate at Howes Percival, Gemma Evans, provides some top tips on things to consider when an…

Howes Percival Divorce Post-It Note
Family Law Arbitration

With the Courts in England and Wales struggling with significant backlogs, this is the fourth in a series…

View more related articles Click Here