I have been joined to my child's divorce, how can I protect my wealth?

Sometimes a wealthy parent can be joined to divorce proceedings, for example if they purchased the parties’ matrimonial home, have a history of making large payments to their child, or if they are likely to be the one who meets the order.

It is increasingly common for parents to assist their children with the purchase of their first home, with almost half of all first-time buyers receiving financial support from their family. In the case of divorce, if one party’s parents contributed to the purchase of the family home, the parent may claim that they have a beneficial interest in the property and that their contribution was a loan rather than a gift, which should be ring-fenced. The parent may then be joined to the divorce proceedings so that the court can determine their interest in the property.

If your child is divorcing and you are joined to their divorce proceedings, you will want to protect your wealth and minimise the amount you might have to pay to your child’s spouse. The involvement of third parties is very fact specific, but as experienced family lawyers, Vardags will help you minimise the cost of your involvement.

We will help you navigate proceedings in a cost-effective way. If possible, will we try to have you un-joined or else help with the appropriate disclosure and putting forward your case. We know that you will want to protect your family’s wealth, as well as your own, and we will help you do this.

If you have been joined to your child’s divorce proceedings and are concerned about protecting your wealth, contact Vardags today for a free initial consultation with one of our expert divorce solicitors.  

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