Sheffield Solicitors Bell & Buxton can help Protect Your Wealth

Protecting your wealth and divorce do not sit together well. A good wealth manager will however consider succession planning and ways to help protect your assets in the event of divorce or dissolution of a civil partnership. It is a sad fact of life that many marriages will end in divorce and the case law is relatively clear. A marriage of substantial length will on the whole give rise to a 50/50 division of assets between the divorcing couple even if one party has contributed financially more than the other.

So how can wealth managers help? It very much depends upon when legal advice is taken. For couples who are about to get married a pre-nuptial agreement should at the very least be considered. There is an increasing trend to give weight to pre-nuptial agreements provided certain requirements are met. After clarification of the law in 2008, any couple that has already entered into a pre-nuptial agreement should also consider converting it into a post-nuptial agreement. The advantage of a post-nuptial agreement is it provides for a greater degree of certainty and will more likely be upheld by a Court.

Whilst the idea of entering into either a pre-nuptial or post-nuptial agreement is not particularly romantic it may well serve to provide couples with greater certainty if they should later divorce. This may be particularly relevant with regards to couples in second marriages who are concerned about protecting for example their children from a first marriage. Quite apart from anything else legal advice should be taken regarding the making of Wills and consideration given to the use of trusts in order to protect assets such as the family home. Out of all this one point remains: expert advice should be taken and any necessary documentation can be prepared to suit your individual circumstances.

At Bell & Buxton, our family and wealth management division can assist in helping to safeguard your assets and future. We are specialists in private divorce and issues relating to property and trusts.

We offer a sympathetic and understanding all round service to our clients.

Our highly qualified and experience team have an excellent reputation and our approach extends beyond merely providing an efficient service.

If you have any questions relating to this article or any other legal matter, please click here to contact Karl Beckett