"My wife and I separated in December last year and are dividing assets as part of our divorce. We agreed I will transfer my half share in the family home to her so she can sell the property to pay her legal fees and purchase somewhere more convenient to live. She will transfer to me her shares in the family business that my father started. This makes sense in terms of our personal circumstances, but does it make sense in terms of our tax liabilities?"
Russell-Cooke partner Rebecca Fisher answers a reader's question in The Financial Times and explains that the tax position of a divorcing couple depends on many factors.
Should I transfer my half of our house to my estranged wife? is available to read on the Financial Times website via subscription.
Rebecca is a partner in the private client group advising families and individuals on all aspects of private client law including wills, estate planning, administration of estates, trusts and powers of attorney.
She regularly advises clients including entrepreneurs, business owners and multi-generational family businesses on succession planning, with particular focus on inheritance tax and capital gains tax planning. Rebecca fully understands the unique challenges that family businesses face.
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