If your marriage comes to an end you will need to make a fair division of the matrimonial assets and the first step will therefore be to ascertain their value.
The law in England and Wales specifies that financial assets you acquire during your marriage must be taken into account when determining a fair division of the assets on a divorce. For example, if just one party pays into a pension during the marriage, the pension can be classified as a matrimonial asset and both parties are entitled for it to be taken into account when determining an overall division of the matrimonial assets.
To ensure you get a fair deal and that your assets are correctly valued you need specialist advice. BTMK works with experienced matrimonial asset valuers in Thorpe Bay, to help you get the correct guidance and help you move on from your marriage.
The most common matrimonial assets include:
When a marriage breaks down questions often surround the division of pensions of either one or both parties.
If you paid into a pension during your marriage, this will be considered a matrimonial asset.
During a divorce, a court can make provisions such as a Pension Sharing Order or pension earmarking, which means some or all of the pension benefits are paid directly to an ex‑spouse/former civil partner.
Pension offsetting is a more common occurrence. In this case, a party’s share of the pension is traded for a greater share of non-pension assets.
Pensions can be hugely complex, and it’s common for accountants and actuaries to be required to look at the financial complexities and risks of your pension during a divorce or dissolution of a civil partnership. At BTMK we only partner with acknowledged independent financial advisors (IFA) and matrimonial asset valuers in Thorpe Bay who have the relevant experience.
BTMK has the knowledge and experience to work with experts in all disciplines in order to determine the value of any assets which are, or are likely to be, considered relevant when a division of matrimonial assets is to take place. We deal with the instruction of experts both within England and Wales and outside of the jurisdiction where those assets are likely to be considered as an asset of the marriage and we are specialists in helping you to secure the correct advice to make sure that the valuations can stand up in court and that they can be supported with relevant evidence.
Often, the choice of the expert is paramount in divorce and matrimonial finance cases as the court and the lawyers will place a heavy reliance on an expert with knowledge in a particular discipline. We can work with accountants in relation to the valuation of family run businesses where there may not be a clear formula as to how the business is to be valued in the future. It is often the case that clients wish to have valuations in advance of taking decisions in relation to how assets are to be dealt with and we are here to guide you to ensure that appropriate tax advice can be secured through a specialist third-party where appropriate.
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