Married Family Finances
Our team of specialist lawyers have expertise in relation to the division of assets and wealth on divorce and separation. Our team will advise on the options available to you to ensure that you receive a fair settlement, and one which properly caters for your future income and housing needs.
We work with clients from a broad range of financial backgrounds including those where there are high net-worth assets such as properties, businesses or inherited wealth to those who do not have assets but seek to ensure that they are protected from any claims in the future.
We will always try to ensure that financial issues arising from a relationship breakdown are concluded by agreement. This is particularly important where there are children and the parents need to work together for the benefit of the children in the future. We will often suggest that a ‘round the table’ meeting occurs to try to resolve the position as quickly and amicably as possible. However, where required, we are well regarded for our tenacity where court involvement is required.
What if there are no assets?
A divorce will not end the financial relationship between a couple meaning that, even when you are divorced, you both still retain the ability to make financial claims against each other. This applies even where there are no assets of any value which is why some couples agree to obtain what is commonly known as a ‘Clean Break’ Order to ensure that neither can claim against the other in the future. We can prepare the paperwork for you both to sign and arrange for the Orders to be approved by the court.
What if there are assets?
We will always advise you on the options available and what would be treated as a fair settlement. The law looks at a sharing of the assets built up during the marriage which can include properties, pensions, and other money. Each situation is different, and we will advise on how any property and income should be shared fairly.
What should I consider?
It is always necessary to give first consideration to any children of the family and to look at the circumstances of the case to include such things as the incomes, housing needs and sometimes contributions of the couple.
The financial aspects of divorce and separation can often be very complex as there is a wide discretion to consider several factors when striving to achieve a fair outcome. There is no one right answer and our expertise will ensure that you are properly advised on the sharing of assets whether in relation to a family home, business, investments, or the treatment of inherited wealth.
After a very short marriage it may be appropriate to place each person back in their financial position before the marriage. After a longer marriage there will generally be an equal sharing of marital property although there may be a departure from this where income and/or housing needs so require. In all cases however the financial needs of each person must be considered, and these are often said to trump the financial contributions. Our expert team can help to advise on the options available and seek the settlement which best suits you.
What is the cost involved?
We will always advise you on the likely charges involved right from the outset. We usually work based on fixed charges for a particular stage of work so that you have certainty and peace of mind going forwards. We will often remind you of the charges and especially where there is a possibility of court involvement when the charges would be much higher than an agreed outcome.
This page is intended for basic information purposes only and should not be considered substitute for obtaining your own independent legal advice. If you would like to speak to one of our experienced family lawyers please contact Michaela Sargeant
