If your friend is divorcing, what could you say that would be helpful?

On 22 July 2022 the government released draft legislation which will change the capital gains tax position for divorcing couples. The legislation is in draft form so may change. The proposed implementation date is 6 April 2023.

Assets owned before a marriage or inherited during a marriage can often become a focal point when discussing how the assets on divorce should be shared between a couple.

This time of year many of us are counting down to a well deserved summer holiday. Often these have been booked for many months, but sometimes are lastminute decisions. What should be an exciting trip to look forward to can become a very stressful issue if you are a separated parent.

First, if a divorce case has to go to court there is a penalty for intentionally hiding assets, it is illegal. Each spouse has a duty to make a full and frank disclosure of their financial position, which includes the full extent of their assets.

The Family Justice Young People’s Board has collated top tips from children of separated parents

More top tip to help understand pensions on divorce

Having an affair is a common reason which can lead to the end of a marriage, but it rarely results in one spouse getting a better divorce settlement. There are however exceptions to every rule.

More top tips to understanding pensions on divorce

What is it like for a child when you have two homes after your parents split up? Jacqueline Wilson has covered this in her book “The Suitcase Kid”