One of the most important – and often most complex – aspects of any separation or divorce is the fair division of financial assets. At Gibson Kerr, we help individuals across Scotland reach clear, practical agreements about how property, money, and other assets should be divided after a relationship breakdown. Our aim is to protect your financial future while minimising conflict wherever possible.
How are Assets Divided in Scotland?
In Scotland, the division of assets on divorce or dissolution of a civil partnership is governed by the principle of fair sharing. This does not always mean an exact 50/50 split, but the starting point is often equal division of matrimonial property – the assets and debts acquired by the couple during the marriage or civil partnership.
The law defines matrimonial property as:
- Assets acquired by either or both spouses between the date of marriage and the date of separation
- The family home and its contents (if acquired during the marriage, and in some circumstances before the marriage)
- Pensions and savings built up during the marriage
Any property owned before the marriage or acquired by gift or inheritance is generally excluded from division.
What is Considered in Asset Division?
Each case is different, and the court – or your solicitor during negotiation – will consider various factors when deciding what constitutes a fair division, including:
- The financial and non-financial contributions of each party
- The value of assets at the date of separation
- The needs of any children of the relationship
- Whether one party has suffered economic disadvantage as a result of the separation
- The earning capacity and future needs of each party
We work with you to understand your full financial picture, including jointly and solely held property, pensions, business interests, investments, and debts.
Reaching Agreement
Where possible, we encourage negotiated settlements to avoid the time, cost, and emotional strain of going to court. We can assist with:
- Valuing and disclosing assets
- Negotiating division of property and liabilities
- Drafting legally binding minute of agreement (a formal contract setting out the financial settlement)
- Considering pension sharing and complex financial arrangements
If agreement cannot be reached, we can represent you in court to ensure a fair and lawful resolution is obtained.
A Trauma Informed and Sensible Approach
We understand that financial matters during a separation can be a source of significant stress. Our trauma informed legal approach means we take time to explain your rights, provide realistic expectations, and support you through each step. We always aim to reduce conflict and reach outcomes that allow you to move forward with stability and confidence.
Family Law Fixed Fee Preliminary Legal Advice
We understand that taking the first step in consulting a solicitor can be daunting and you may be concerned about the likely cost of legal advice. To help you understand your options and the likely cost, we offer a fixed fee package for preliminary legal advice.
Speak to an Asset Division Specialist
If you’re facing separation or divorce and need guidance on how your assets should be divided, contact our Family Law team. Whether your situation involves straightforward finances or complex business or pension arrangements, our expert family law solicitors in Edinburgh and Glasgow will provide clear, confidential advice tailored to your situation.