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When you decide to separate or divorce it can feel as if everything is in suspended animation whilst you wait for your family solicitor to sort out your divorce and the financial settlement.  No one wants to be left in limbo whilst divorce proceedings are underway so in this article we answer your question on whether you can sell your business before you divorce. 

If you are getting divorced and your husband is self-employed you may be worried about splitting your finances on divorce. You are likely to be concerned about proving what assets your husband has, establishing the true value of those assets, working out his income and how you are going to achieve a fair divorce financial settlement.

Currently, if a couple transfers assets between them any time after the tax year in which they separated, there may be Capital Gain Tax to pay.

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Ending a marriage can be a confusing and emotionally distressing time, especially if there are children involved. Attempting to make decisions with your spouse can be difficult and deciding who lives permanently with the children can leave many parents at odds with each other. This can lead to tense disputes and in some circumstances, it may be necessary for the courts to get involved in resolving matters. To help you understand the process and the impact that your decisions may have on your children, we are committed to helping in a manner that focusses on your child's happiness and welfare.

A pension is often one of the largest assets involved in a marriage or civil partnership, therefore, it is important that pension rights are considered during a divorce settlement. Pensions can be complex, and it is always advised that any divorcing couple speak openly and honestly about their pension savings to a family solicitor. Our team can discuss all the options available, your rights and how pensions may be shared upon divorce

There is a common misconception that if you divorce then the split of family assets will always be 50:50. That isn’t always correct. You may get more; or you may get less. A family solicitor can advise you on your divorce rights and help you negotiate the most suitable financial settlement for your circumstances.

In a divorce financial settlement, the family assets should be shared fairly. If your partner sells assets before your divorce and the resolution of your financial claims this may reduce the amount of your financial award.

When a relationship breaks down it can be a challenging time, especially if there are parenting arrangements and finances to resolve. Some separating couples are keen to skip mediation and go straight to court to resolve matters.