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- During divorce proceedings, you fill out Form E and declare all your property, even the assets you believe are non-matrimonial. Then a Family Court Judge ‘ring-fences’ the non-matrimonial assets to exclude them from the settlement.
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How to work out splitting up money, property and possessions when you divorce or dissolve a civil partnership - including mediation.
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If there are assets you believe should not be included in the divorce settlement, you can ask the court to potentially exclude it from the available assets. This could happen where: You received an inheritance, or are due to receive an inheritance after you separated from your spouse.
Jul 14, 2022 · This guide explores the difference between the two and the court’s approach to splitting assets on divorce. We will also consider the various ways in which you can protect non marital assets following a marital breakdown.
- Are There Different Types of Marital Assets?
- Matrimonial Assets
- Non-Matrimonial Assets
- What Happens to Matrimonial Assets When A Couple Divorce?
- What Happens to Non-Matrimonial Assets When A Couple Divorce?
- Can I Have My Non-Matrimonial Assets Excluded from The Financial Settlement?
- Can A Prenuptial Or Postnuptial Agreement Protect Non-Matrimonial Property?
- Contact
The law in England and Wales recognises that there are two types of assets to be taken into consideration during divorce proceedings: matrimonial assets and non-matrimonial assets. During divorce or separation, it’s important to distinguish between these types, as it could make a difference to your Financial Settlement (the lump sum or regular paym...
Matrimonial assets are any financial assets that you and / or your spouse acquired during the course of your marriage (the time elapsed between the date of your wedding and your separation, rather than the full length of your relationship.) Matrimonial assets include the family home along with any pension plans, investments, savings and jointly own...
Non-matrimonial assets are financial assets acquired before the date of your marriage (either as a single person or while cohabiting) or after you separate. As well as pension plans, investments, savings and high-value possessions, non-matrimonial assets can include inheritance, family businesses and property purchased in your own name, rather than...
When a couple divorce, they need to reach a Financial Settlement that’s fair and reasonable for each party. As part of this process, there will naturally be some debate about how things are divided. Matrimonial assets will, by their nature, be shared between spouses during divorce proceedings – no matter where the money came from or who earned it i...
Non-matrimonial assets can be more complex to consider than matrimonial assets, which are automatically included in your Financial Settlement. The first step in your divorce proceedings will usually be a full and frank financial disclosure that identifies your assets as a couple, both matrimonial and non-matrimonial. The next step will be to consid...
It’s possible to ask that non-matrimonial assets are excluded from your Financial Settlement, but the court may refuse this request if the asset was somehow used in your marriage – for example, if you funded the purchase of the family home with a personal inheritance. Divorces are examined by the courts on a case by case basis, with the individual ...
A prenuptial agreement (drawn up before a marriage takes place) and a postnuptial agreement (entered into during the marriage) are both ways of potentially ring-fencing matrimonial assets in the event that a relationship breaks down. Although this type of agreement is not strictly legally binding in England and Wales, the Supreme Court ruled, in 20...
For further information, please contact Iwona Durlak in the family law team on 0330 107 0107 or email i.durlak@imd.co.uk. This article is for general information only and does not constitute legal or professional advice. Please note that the law may have changed since this article was published.
Sep 6, 2024 · Looking to protect your non-matrimonial property and assets during the divorce proceedings? Speak to our experienced divorce solicitors today.
Mar 23, 2017 · The best way to protect your non-matrimonial assets is a pre-nuptial agreement that defines the separation of matrimonial and non-matrimonial assets. This agreement is commonly signed before the wedding ceremony, although you can create one after, called a post-nuptial agreement.
Oct 4, 2022 · If you have non-matrimonial assets you want to protect, you need to ringfence them throughout your marriage. The protection awarded to non-matrimonial assets is weakened if they have been used to financially support you and your spouse during your marriage.
