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Matrimonial & Non-Matrimonial Wealth

Duncan Lewis High Net Worth Divorce Solicitors – Matrimonial & Non-Matrimonial Wealth

 

Divorces in England and Wales, will usually be based on matrimonial assets. Non-matrimonial assets will only be considered if the matrimonial assets cannot make adequate provision for the needs of one of the parties. This means that it is important to define which assets are matrimonial and which assets are non-matrimonial.

 

Overall, assets will be said to be matrimonial if they were acquired after the marriage but before the separation. Assets acquired before the marriage are only likely to be considered matrimonial if it can be made known that they were treated as matrimonial assets. For example, if one party owned a property prior to their marriage; however it became the family home where the parties live together and raised a family. Conversely, a property acquired after separation by one party as suitable alternate property in which to reside is extremely unlikely to be a matrimonial asset.

 

Duncan Lewis High Net Worth Divorce Solicitors offers clients going through High Net Worth Divorce a highly professional and objective service and will appoint experts to give specialist advice on financial planning for High Net Worth Divorces, including:

  • Forensic Accountants
  • Industry Experts who can help with the valuation of property and businesses
  • Tax professionals

 

Forensic Accountants

 

Forensic accountants are useful for locating hidden assets and additional income. Whether someone has an income producing stock portfolio, or makes additional income, a forensic accountant can be beneficial in determining the situation. Any hidden assets, or additional income is then included when dividing assets and determining spousal maintenance where appropriate.

 

Industry Experts and Specialists

 

Property experts can offer valuable advice about the value of property and businesses. This includes the family home and properties situated globally. Additionally, they can determine the value of income producing rental property where one of the parties wishes to retain the rental property as part of the divorce settlement.

 

Forensic Accountants can also be used to value business assets if there are problems in attaining an accurate valuation due to the business records.

 

Tax Professionals

 

As specialists in the field of High Net Worth Divorce, we have the necessary information and knowledge to make sure that major issues are considered alongside divorce, including:

  • Tax considerations such as Capital Gains Tax (CGT) upon the transfer of assets after the permanent year of separation;
  • The remit of company valuations and where appropriate discounts are to be applied for factors such as illiquidity, minority shareholdings and risk;
  • Enforcing orders overseas and whether foreign lawyers will need to be appointed;
  • Capitalisation of maintenance and whether Duxbury applies;
  • Different pension arrangements including final salary schemes, armed forces pensions, defined contribution schemes, and any inherent benefits underlying certain schemes.

 

Duncan Lewis High Net Worth Divorce Solicitors offer specialist legal advice on all areas of both matrimonial and non-matrimonial wealth to those individuals with assets in excess of 1 million pounds. For expert legal advice call Duncan Lewis Divorce Solicitors in confidence on 033 3772 0409 or contact us via our online contact form.


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