How is my yacht treated by courts in divorce?

Yachts are handled just like other assets in a divorce. First, the courts determine whether it is a matrimonial or non-matrimonial asset in order to ascertain whether it should be shared or kept separate. If one spouse owned the boat before the marriage, it might beviewed as a non-matrimonial asset and ring-fenced (subject to any argument regarding mingling). However, if the yacht was acquired during the course of the marriage it will be viewed as a matrimonial asset to be shared between the parties.

Where the yacht is a matrimonial asset, there are a number of options available for the spouses. Firstly, they can sell the yacht and divide the proceeds. Alternatively, one spouse can keep the yacht and trade an asset of equal value to the other spouse. In rare circumstances, it may be possible for the spouses to co-own the yacht.

Divorce proceedings including assets like yachts can be complex, because beside the boat itself, there is the cost of its upkeep to consider. The ongoing costs associated with owning and maintaining a yacht can be considerable and will need to be factored into your financial planning.

Vardags’ team of top divorce lawyers delivers a bespoke legal service to HNW and UHNW individuals, their families, and businesses.  

If you’re considering or going through a divorce with a yacht involved, we can help. Click below for a free initial consultation with one of our expert divorce solicitors. 

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