Financial Arrangements for Spouses
When a couple decides to divorce there are two main issues to be considered;
- The division of assets i.e. money, the family home, and other assets, as well as
- Arrangements for children
Our UK and UAE qualified lawyers will advise and assist you on reaching a financial settlement, whether you are divorcing under UK or local Sharia law. We have a strong track record of helping couples reach amicable settlement agreements. These allow you and your spouse to work out matters relating to your family home and other assets between yourselves, rather than have the Court decide for you.
We are a multi-lingual firm and our family lawyers are registered with UK Solicitors Regulation Authority and the Dubai Legal Affairs Department. Operating a fully digital practice, we can arrange video conferencing if this suits your needs. As a niche firm, we are highly respected in the region for our divorce and family law expertise.
Financial Arrangements under UK Law
How are property and assets divided in a divorce?
Several factors are considered when dividing assets upon the breakdown of a marriage, including the length of the marriage, the ages of the parties, the assets of the parties, their respective income and future earning capacities. Our lawyers explain to you the relevance of these factors and the impact they can have on your circumstances.
The courts do not automatically award a 50-50 division of assets upon divorce. We navigate and advise clients as to the settlement they can expect based on their individual circumstances and requirements.
It is imperative for clients to seek advice as to which jurisdiction they should choose for divorce. There may be certain financial advantages and disadvantages in having your divorce case processed in one jurisdiction as opposed to another. We can advise you as to whether you have the grounds for filing your divorce in a jurisdiction in which you would be entitled to claim a more significant financial settlement.
Will I lose my home if I get divorced?
Unless there is a pre-existing prenuptial agreement to the contrary, both parties have the right to reside within the marital home. Even if one party owned the property before the marriage there is an equal right to remain in the house.
Our family lawyers encourage couples to try and reach a mutual agreement regarding the matrimonial home. There are several possible options including selling the home and splitting the proceeds, one party remaining and buying out the other, the home goes to one party while other assets go to the other or allowing one party to keep an interest in the property which can be realised when sold in the future.
If you and your ex-spouse are unable to agree on a satisfactory outcome, the court can be asked to decide how the family home should be divided. A judge will consider the needs of any children involved, and the earning capacity of the parties, among other factors when deciding. Often an order is made that allows the primary parent to remain in the home with the children until the youngest finishes their tertiary education. At this point, the home is put on the market and the couple may split the profit.
What happens to my overseas assets?
Unless a pre or postnuptial agreement states otherwise, any property or assets held abroad are deemed matrimonial property. We will help you and your spouse decide how these are divided and create a robust settlement agreement. Throughout the entire process, we will ensure the best interests of you and your children are protected.
Financial arrangements under UAE Law
Our lawyers have great experience in dealing with financial matters as a consequence of divorce within the UAE. In line with Sharia principles each party retains that which is in their own name. Any jointly owned assets between the parties, are divided equally.
Under the new Federal Personal Status Law, a Wife can now claim maintenance from the Husband. The way in which this is calculated is dependent on certain factors including but not limited to age of the wife, length of marriage, the financial situation of each party etc.
Our family law team has over ten years’ experience advising British and international expatriates on financial arrangements during a divorce. To make an appointment, please contact us :
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