Going through a divorce can be stressful and emotional. Along with the personal challenges, many people worry about their money, property, and other assets. If you are getting divorced in Manchester, it is important to understand how to protect what you own and make informed decisions from the start.
In England and Wales, the law aims to divide assets fairly, not always equally. This means the court looks at many factors, such as the length of the marriage, each person’s income, future needs, and whether there are children involved. Because every situation is different, getting early legal advice is very important.
One of the first steps to protecting your assets is to be open and organised. Both spouses are required to give full financial disclosure. This includes bank accounts, savings, property, pensions, investments, and debts. Trying to hide assets can seriously damage your case and may lead to penalties from the court.
If you owned property or savings before the marriage, these may be treated differently from assets gained during the marriage. However, this is not automatic. A family solicitor in Manchester can help you understand which assets may be considered non-matrimonial and how to present this clearly during negotiations.
Pensions are often one of the most valuable assets in a divorce and are sometimes overlooked. They can be shared, offset, or kept by one party depending on the agreement. A solicitor can explain your options and help ensure pensions are dealt with fairly.
If you are not yet married or are planning to marry, a prenuptial or postnuptial agreement can help protect assets in the future. While not strictly legally binding, these agreements are increasingly recognised by UK courts if they are properly prepared.
Mediation is another option that can help protect your assets. It often reduces legal costs and allows couples to reach agreements without going to court. However, you should still seek independent legal advice before agreeing to anything final.
Divorce can have long-term financial effects, so it is important not to rush decisions. Speaking to an experienced family solicitor in Manchester can give you clarity, protect your interests, and help you move forward with confidence.
If you are facing divorce and are concerned about your assets, professional legal advice can make a real difference.