31 October 2013
Family Law Solicitor offers advice on untangling your finances when divorcing
According to reports, the lingerie tycoon Michelle Mone and her ex-husband are selling their luxury 12 room former matrimonial home following their Divorce.
Mone, owner of the Ultimo brand has apparently spoken of her “heartbreak” at being forced to sell the £1.5m property in Lanarkshire, after her ex-husband refused to allow her to buy him out.
Mone’s ex-husband has hit back at her claims, according to reports, confirming that the financial settlement reached upon Divorce was that neither party would sell to the other and that it wouldn’t be right for the parties’ Children for either party to return to the house, as it was the family home.
The sale apparently includes all fixtures and fittings, such as silk curtains, a state of the art sound system, expensive lamps and a 7ft marital bed which Mone has allegedly said cost as much as a small flat!
It has been suggested within reports that the parties have spent the last year untangling their business, property and other assets, following their Relationship Breakdown.
The first question most clients ask following the breakdown of the marriage is what will happen to the marital home. Some clients wish to remain in the property for the benefit of the children, however some wish to make a clean slate and for affordability purposes, prefer for the former matrimonial home to be sold. There are a number of different options available and often what is right for one client is not necessary right for another. It all depends on the circumstances of the case and the Court’s first consideration will be the children of the family.
By Family Law Solicitor Georgina Chase.
For more information about Divorce & Separation, please email one of our Family Law Solicitors at email@example.com or call us on 0800 916 9055.