How solicitors in Ipswich can help sort out property problems during a divorce

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When a couple splits up, there are many questions that have to be dealt with and finalising an agreement may need the help of expert solicitors based in Ipswich. One of the major issues for most people in this situation is reaching a fair decision over any property they own, whether together or separately.

This could obviously include decisions over the family home, but with some couples it could be that each partner owns a house. Others may have both a main family home and a second holiday or weekend home, either in the UK or abroad. It is clearly essential that each individual’s circumstances are fully considered in order to ensure a fair overall settlement which will not have to be changed later on.

As well as being expert divorce solicitors, at Suffolk-based Barker Gotelee we have a specialist property law department which can be called on to help with any complicated questions to do with properties. You can rely on us to help you reach a settlement as fairly and as amicably as possible, so that you can start to look to the future once again.

Solicitors in Ipswich  – Click here to find out more about our service.

What happens to the family home?

For many divorcing couples, the family home is their major asset and one of the most important questions they need to settle is what should happen to it. The best solution may often be for one partner to continue living there, while the other moves to another property. If this is decided on, the partner who is still living there may buy the other one out. Alternatively, another possibility is for the home to be sold and for the couple to split the money between them so they can each buy another property.

Whichever solution is decided on, it is important to be aware that the sharing of equity in the house will not always amount to a 50-50 split; there are various factors which need to be considered. These could include the welfare of the family’s children, the financial circumstances of each partner both now and before they married, and how long the marriage has lasted.

The family home will not just be considered in isolation but as part of the whole financial settlement.  If there are other large assets such as a pension pot or business interests, these will also have to be looked at as well in finding a fair settlement. There can also be complications such as a court saying that a house should not be sold until the children reach a certain age. To ensure that the whole picture is looked at and in order to reach a fair settlement, it is best to consult family solicitors in Ipswich, such as Barker Gotelee.

Questions over second properties

Sometimes a couple does not just have one home that needs to be considered during a break-up. For instance, they may have two homes if they were only together for a short while and each still has their own house. Or, in some instances, they might have bought a house together while one partner also owns another property. In the case of short-lived marriages, the courts will normally aim to reach a fair settlement which leaves each partner in the same position they were in before they married, and again your divorce solicitors can advise on this.

Couples may also have a second property, whether in another part of the UK or abroad, such as a holiday house or villa that is rented out when not in use. It is important that any assets like this are taken into account in reaching a settlement.

If your second home is abroad, it can make the divorce settlement more complicated, and problems over disposing of this type of property are now involved in a lot of break-ups. Many properties in Europe have lost a lot of value as a result of economic problems of recent years and are proving difficult to sell. Sometimes neither partner wants to take them on, especially if there is a mortgage to be paid.

Tax implications

When a property settlement is involved in a divorce, the tax position of each partner can be complicated, with questions arising over whether they will have to pay Capital Gains Tax on their share of a particular property. It is important to get expert advice on this, and this is another area where solicitors based locally in Ipswich can help you. As well as being expert divorce solicitors, at Barker Gotelee we have a department specialising in wills, trusts and tax, and we can call on this expertise if needed.

About Barker Gotelee

We at Barker Gotelee have 25 years of experience as solicitors in Ipswich, and we have an expert family law department to help you to achieve a fair settlement when a marriage ends. We serve the whole of Suffolk and East Anglia and can provide you with all the support and advice you need at this difficult time.

Divorce Solicitors Suffolk – Click here to see details about how Barker Gotelee can help you.

Amanda Crowe is a divorce solicitor at Barker Gotelee, Solicitors in Ipswich. Divorce Solicitors Suffolk – click here for more information on our services