Division of foreign assets upon divorce

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Division of foreign assets upon divorce

During the conclusion of an official marriage between citizens, usually, no one thinks about its possible dissolution in the future.

However, everything is possible in our life and no one is safe from the fact that sooner or later, we will have to part with our husband or wife.

Therefore, the best option in the event of such a crisis situation in practice would be to understand the main points of property division between former spouses. This shows the relevance of consideration of this topic.

In this article, we will talk about the peculiarities of the division of foreign assets during a divorce.

What should be known when dividing foreign assets in a divorce?

First of all, it is necessary to understand that in such cases the legal regulation of foreign assets will be carried out by the norms of international private law, international agreements, and conventions ratified by Ukraine.

So, if an international agreement on legal assistance in family or civil matters is concluded between Ukraine and the country of residence, where the spouses are located or in which the main part of their property is located, then the division of jointly acquired property of the spouses takes place in accordance with this agreement.

It also regulates issues related to the establishment of paternity, the conclusion of marriage, the procedure for its dissolution, the adoption of children, etc.

For example, Ukraine and the Republic of Poland have concluded an international legal agreement on legal assistance and legal relations in civil and criminal cases. It is he who will regulate property issues regarding the division of foreign assets of spouses and determine the competence of judicial authorities in these legal issues.

Today, Ukraine has concluded quite a lot of international agreements on cooperation, namely with the following countries: the People’s Republic of China, the Republic of Lithuania, the Republic of Moldova, the Republic of Georgia, the Republics of Latvia and Estonia, and others.

However, if there is no such agreement between Ukraine and the spouse’s country of residence, then the provisions of the National Law of Ukraine “On Private International Law” will be applied in the matter of division of jointly acquired property (including foreign assets).

How can the help of a lawyer be useful in such cases?

  • a detailed analysis of your situation and all available property of the spouses for its fair distribution;
  • assessment of the client’s risks and chances to achieve the desired result;
  • construction of the legal position of distribution of available property between spouses (including foreign assets);
  • collection of the evidence base in order to confirm the facts of the acquisition of property in the private ownership of a person;
  • full legal support of the procedure for dividing joint property of spouses.

Independent resolution of issues related to the division of foreign assets during divorce is a problematic matter for achieving the desired result in practice, and therefore requires the involvement of qualified specialists – the “Prikhodko and Partners” law firm.

Our team fully understands the current issues in the field of family law, because we constantly use Ukrainian legislation in various state authorities and know all its legal intricacies. Do not delay and contact our company!

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Family law lawyer. Specializes in divorce and probate matters.

Contact now
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