What are matrimonial assets?
Assets built up during the marriage that go into the pot to be divided: the family home, pensions, savings, investments, businesses and valuable possessions. It generally does not matter whose name they are in. Assets owned before the marriage or inherited may be argued to sit outside the pot, though that argument weakens the longer the marriage lasted.
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What are non-matrimonial assets?
Assets one of you owned before the marriage, inherited, or was given by someone outside it. In England and Wales they are not automatically excluded from the settlement. A court can still draw on them if that is the only way to meet either person's needs or the children's, and mixing them with joint money weakens the argument.
Is a pension a matrimonial asset?
Usually, yes, at least the part built up during the marriage. Pensions are often one of the largest assets. They can be divided with a pension sharing order, offset against other assets such as the house, or earmarked. The starting value for each is its CETV, which can understate a final salary pension.
Is an inheritance a matrimonial asset?
An inheritance is usually treated as non-matrimonial, especially if it was kept separate. That protection weakens if it was paid into joint accounts, used to buy or improve the family home, or is needed to meet the other person's needs. When it arrived and how it was used both matter.
Still not sure what this means for you?
Ask Helena, our AI assistant. She gives general information, not financial advice.