Preparing properly can help make the divorce process more efficient and place you in a stronger position when resolving financial matters. It can also help ensure that any settlement reached is fair and based on a clear understanding of both parties’ financial circumstances. Here are some practical steps to consider:

1. Understand Your Assets
   Gather information about all relevant assets, including property, savings, investments, pensions, business interests and insurance policies. It is also important to identify where assets originated from, particularly if they were acquired before the marriage or received through inheritance, trusts or family gifts.
   Following the Supreme Court’s decision in Standish v Standish [2025], the court will often consider the source of an asset when determining whether it should be treated as matrimonial or non-matrimonial property. Assets acquired before the marriage or received from external sources may not automatically be shared, although this will depend on factors such as how those assets were used during the marriage and whether they became intertwined with family finances. Legal advice can help clarify how specific assets may be treated.

2. Review Your Financial Position
   Make a record of your income, regular outgoings, liabilities and any debts. Having a clear understanding of your financial position—and your spouse’s financial position where known—can help when discussing financial arrangements. 
3. Consider Your Priorities
   Take time to think about what matters most to you, whether that involves housing arrangements, financial security, childcare arrangements or preserving certain assets. It is important to ensure your expectations are realistic and informed by legal advice. 
4. Organise Key Documents
   Your solicitor may ask you to provide documents such as bank statements, tax returns, mortgage documents, pension information and other financial records to help assess your situation properly. 
5. Seek Legal Advice Early
   Speaking to an experienced family solicitor early can help you understand your legal position, avoid unnecessary delays and make informed decisions throughout the process. At Austin Kemp, our specialist divorce solicitors can provide tailored advice to help you navigate both divorce proceedings and financial negotiations.

Managing your finances is an important part of preparing for divorce. Taking time to understand your financial position can help you make informed decisions throughout the process.

Start by creating a clear overview of your income, regular expenses, debts and financial commitments. This can help you understand your current circumstances and plan for any future changes.

It is also important to keep copies of key financial documents, such as bank statements, payslips, credit card statements and mortgage documents. These records may be useful during financial disclosure and can also help you manage your finances more effectively moving forward.

If you hold joint bank accounts, you may wish to consider whether those arrangements remain appropriate. Depending on your circumstances, options may include closing joint accounts, opening individual accounts or agreeing how joint funds will be managed. Where possible, these decisions should be discussed carefully and legal advice may be appropriate.

Property and other assets should also be considered, including homes, savings, investments, pensions and vehicles. Understanding what assets are available can help both parties work towards a fair financial settlement.

If you own rental properties or receive income from investment properties, it is important to keep accurate records of rental income, mortgage payments, maintenance costs and any other related expenses.