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Are Personal Savings an Asset In Divorce?

Financial settlements are essential in divorce. It outlines exactly what you plan to do with your assets, including savings following the divorce and provides a clean break ensuring neither couple can make future claims against one another’s future assets.

The section 25 martial clause act (1975) is the law, which provides the guidelines in regards to what is considered in a financial order.

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Is my spouse entitled to half my savings?

All savings, including ISA’s, must be disclosed as part of the financial proceedings, even those that are held in one sole name.

More often than not the savings will have been built up within the marriage, classing them as a matrimonial asset. Any matrimonial assets can be split fairly during a financial settlement.

How are savings divided in a divorce? 

The way in which savings are divided during a financial settlement is different for each divorce, however; a fair split is always desired. In the majority of cases, a 50/50 split is often the starting point.

Fairness is the key to dividing assets including savings within a divorce, its important to understand fair doesn’t always mean equal.

Some factors that are taken into consideration are:

  • Income, earning capability, children, property, needs & age and duration of the marriage.

Find out more about how assets & money are split.

Are any savings exempt from a financial settlement? 

There is only one exemption and this is if you are able to prove that the savings were occurred before the marriage, classing it as a non-matrimonial asset.

Some examples are:

  • Your savings were brought into the marriage
  • You have occurred the money in the savings since separating
  • The savings were received during the marriage from an outside sauce (a gift or inheritance.)

However, although the above often means that your savings can be exempt from your settlement it doesn’t mean that they always are. If your settlement is taken to court, the judge has the ability to include it if they feel its necessary.

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How to divide personal savings accounts

The process of Dividing saving accounts differ depending on the type of savings account you hold and who’s name is on it.

Savings accounts- dividing savings accounts is often rather straight forward and simply involves one party transferring the other a set amount in which has been decided upon.

However, some savings accounts can have clauses so it’s important to contact the bank before making any transaction.

Cash ISA’s- Cash Isa’s are only ever held in one person’s name, this means you are unable to transfer the money to the other party. You will have to withdraw the money and then give them the money personally.

Savings & Financial Consent Orders

Savings can be included within a financial consent order along with all other assets. A financial consent order simply means that your financial arrangements are written in a legally binding order sealed by the court.

Protecting both parties and enabling them to take legal action if either party fails to comply with the order.

We offer a range of solicitor drafted financial consent order services to suit your needs and budget. All saving you on over £750 compared to your local high street solicitor- without compromising on the service you receive.

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Financial Settlement Services

If both parties are in an agreement and can reach a financial settlement, then we can help you obtain a legally binding financial order through the courts for £199.

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This post was written by Mark Keenan. Editor of Divorce-Online and Managing Director of Online Legal Services Ltd. Mark has been writing about divorce and related subjects for over 20+ years and is an expert in legal marketing.


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