Capital Sum / Property Transfer Orders
Under Scots law, assets are divided fairly. That generally means equally. They can be divided by way of money or assets being transferred between spouses.
On some occasions, couples can’t agree which assets they keep or how much one or the other should get. In these situations the court will be asked to decide and will make orders for payment of capital sums or property transfer orders.
Pensions on Divorce
Any pension provision derived during the course of the marriage forms part of the matrimonial pot. Sometimes the capitalised value of a pension is significant.
In such cases it may be difficult for the spouse with the significant pension rights to find sufficient cash to buy out the other. We can advise on pension sharing and how best to maximise your position.
On some occasions actuarial advice is necessary.
In some cases preventative measures are necessary to prevent dissipation of assets.
There are a range of emergency orders available and we are able to act quickly in your best interests.
In some cases you may be aware that a court action is about to be raised against you. We can lodge notices known as caveats in the Scottish courts which will alert us as soon as an action is raised.
Once you have a court order you want to be able to implement it.
In the event that you need to obtain payment, or have a property transfer order implemented or indeed enforce a contact order to spend time with your children we can help.
The breakdown of a relationship or start of a new relationship has many consequences, some of which you may not think about. There will inevitably be tax consequences for you, affecting any or all of income tax, capital gains tax and inheritance tax. We have the experience to advise you of these tax consequences and how best to structure your affairs to be as tax efficient as possible.
You may wish to protect assets through use of a trust, from your children or from any future relationships. We can advise you on which type of trust is suitable for your needs, set it up for you and help you with the ongoing administration.
You may wish to take advice about how inherited wealth will be affected by your new relationship or the breakup of your existing one. We can advise you on this. If advice is taken before a new relationship is started, we can advise you how to best protect your inheritance.
There may be issues regarding your family business that you should consider at the start or end of a relationship. We can advise you on the relevant issues which include tax and succession rights.
Contact: Lesley Gordon, Partner firstname.lastname@example.org / Call 0131 222 2959 or T. 0141 225 4848