Divorce is often a challenging and emotional process, particularly when it comes to dividing assets. For many couples, shared property, finances, and other assets represent not only significant financial investments but also emotional ones.
At Wayman and Long, we understand how critical it is to approach the division of assets with fairness, clarity, and dedication to achieving the best possible outcome for our clients. Our experienced team of family law solicitors provides essential guidance through each step, ensuring your rights are protected and your assets are divided equitably.
Here’s how we work with you to make sure that the division of assets is handled fairly during divorce proceedings.
Before diving into negotiations or legal proceedings, it’s essential to gain a complete understanding of all assets involved. At Wayman and Long, we start by helping you identify and document all assets—this includes property, bank accounts, investments, pensions, personal belongings, heirlooms, and any jointly or individually owned businesses.
We also take the time to clarify assets that may be less obvious but could have a significant impact, such as hidden investments, shares, or overseas property. By conducting a thorough asset review, we ensure that no assets are overlooked and that each item is accurately assessed and valued.
A fair division of assets starts with an accurate valuation. Determining the true value of each asset can be complex, particularly when dealing with assets that will continue to increase in value. Our team works with experienced valuers and financial professionals to establish accurate and fair valuations for all items in question.
In cases where there are disputes over valuation, we advocate for mediation or involve independent experts to provide objective valuations. This approach helps ensure that neither party is at a disadvantage due to incorrect or biased appraisals.
The division of assets during a divorce is guided by specific legal frameworks, primarily focused on achieving fairness. The court takes into account factors such as:
At Wayman and Long, we carefully examine these factors in relation to your unique circumstances. Our solicitors are highly experienced in all aspects of divorce and property division, which allows us to create a strategy that aligns with your needs whilst respecting the legal requirements.
Fair division isn’t only about dividing physical assets. The court also considers non-financial contributions made by each spouse. For example, if one spouse focused on a career while the other managed household duties or child-rearing responsibilities, the latter’s contribution is valued and acknowledged.
We advocate for a holistic approach, recognising the value of non-financial contributions. Our solicitors work to ensure that our client’s efforts and sacrifices are fairly reflected in the final settlement, especially when they have made significant contributions to family life without direct financial remuneration.
Pensions are a significant part of asset division during a divorce. Often, pensions represent one of the most valuable assets, particularly for couples who have been married for a long time.
At Wayman and Long, we help clients understand how pensions can be divided fairly, whether through pension sharing orders, offsetting (where one spouse receives other assets to compensate for the pension value), or pension attachment (where a portion of the pension is paid to the ex-spouse when it matures).
In addition to pensions, we also address other investments like stocks, bonds, and ISAs. Dividing these types of assets can be intricate due to fluctuations in value, and we work with financial advisors to make sure these assets are divided in a way that is fair and reflects their current and potential future value.
For most couples, the family home is one of the most valuable shared assets. Deciding what happens to the home can be one of the toughest aspects of divorce. Options for dividing property include selling the home and splitting the proceeds, one spouse buying out the other’s share, or one spouse retaining the home (often when children are involved) whilst compensating the other with different assets.
At Wayman and Long, we help clients evaluate which option best suits their circumstances and future needs. We offer guidance on property valuation, transfer processes, and practical solutions that take into account both short-term and long-term financial security.
If children are involved, the division of assets may be influenced by the need to provide stability for their welfare. Courts prioritise the best interests of children, and settlements may be structured to allow children to remain in the family home or to ensure sufficient funds for their education and well-being.
Our solicitors are dedicated to achieving arrangements that benefit children and minimise disruptions to their lives. We work closely with clients to develop asset division strategies that balance fairness for both parties with the ongoing needs of children, offering solutions that protect the family’s future.
In many cases, the most efficient way to achieve a fair division of assets is through Alternative Dispute Resolution (ADR) methods such as mediation or collaborative law. These approaches allow couples to reach mutually agreeable settlements outside of court, which can be less adversarial and more cost-effective.
At Wayman and Long, we promote ADR as a first step whenever possible. Our solicitors can represent you in mediation sessions, where we negotiate on your behalf to reach an agreement that suits both parties. This approach not only preserves a level of civility but also speeds up the process, allowing you to move forward more quickly.
Once a settlement is reached, whether through mediation or court proceedings, it’s essential to document the agreement clearly and ensure it is legally binding. We draft detailed agreements that cover all aspects of the division of assets, protecting you from future disputes or claims.
We also manage the formalities required to make agreements legally enforceable, offering peace of mind that your rights are protected and that the division of assets is respected by both parties.
If you’re facing a divorce and want to ensure that your assets are divided fairly, contact Wayman and Long for an initial consultation.
We’ll take the time to understand your circumstances, explain your options, and work with you to reach your desired outcome. With Wayman and Long by your side, you can rest assured that you and your assets are in safe hands.
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