High Net Worth Divorce Videos

Date when Video was Published: 30/06/2023

The simplest matrimonial assets definition is a financial asset that you and / or your spouse acquired during the course of your marriage. Non-matrimonial assets are financial assets acquired either before or after you got married. These usually include things like inheritance, family businesses and property purchased as a single person. When you separate, parties must try to come to an agreement about how the finances are divided with the hope that each party feels that they have received a fair and reasonable share of the assets acquired during the marriage. If the parties cannot agree, the court will ultimately make these decisions on their behalf, and on behalf of any children, they have. In England and Wales, any financial assets acquired during the course of a marriage also legally belong to your spouse. The court will look at a number of different factors when deciding how matrimonial assets should be split between both parties. The two essential factors; the needs of the parties and the way the non-matrimonial assets have been dealt with by the parties during the marriage. Sharing out non-matrimonial assets can be more complex than dividing matrimonial assets. It can be requested from the court that non-matrimonial assets are excluded from the divorce settlement, however, this may be denied, especially if the matrimonial assets do not meet the needs of your spouse and/or children. Divorce proceedings, including the division of matrimonial assets, can be complex, confusing and upsetting for all involved, therefore, we here at Duncan Lewis Solicitors are here to advise and assist you in your journey, ensuring that you are fully prepared and supported. Please visit our website or call us directly on 033 3772 0409

Disclaimer

This video content was created on 30/06/2023 to provide an overview of the legal position and the information was correct at the time this video was created. This video has been produced for purposes of generic information and marketing purposes only. While the information on this site is about legal issues, it is not intended as legal advice or as a substitute for the particularised advice of your own legal advisor. Please consult one of our lawyers to provide you with advice and assistance on any matters touched on this video. Viewing of this video does not create legally binding advice and does not create a retainer with Duncan Lewis Solicitors. This video is Copyrighted at Duncan Lewis Solicitors 2023. Any illegal reproduction of this content is prohibited and will result in immediate legal action.