Financial settlement on divorce – where do you start?

8th March 2015 by

 

First things first, you don’t have to be divorced to sort out a financial settlement following relationship breakdown and you don’t necessarily need to instruct a divorce solicitor to make things legal.

However, if you intend to remarry at some point it may be in your best interests to commence divorce proceedings sooner rather than later and, if there is likely to be any dispute over money, assets or property, getting the best advice possible from a family law solicitor is almost always necessary to make sure you get the best out of your financial settlement on divorce.

Children in divorce

When children are involved the Family Court’s priority will be to ensure their welfare is maintained. Any decision regarding whether a family home should be sold as part of a financial settlement will be made with a view to how it might affect the children’s wellbeing.

In most cases, if the spouses are entitled to an equal share of the marital home and if children of the marriage are to stay living there with one parent, the court will typically rule that the property should be held on trust for the children until they reach 18 or 21 years of age. At this time the property could be sold and the proceeds divided between the former spouses.

Paying child maintenance

It is a legal requirement that an absent parent pay maintenance for his or her dependents. The family court has the power to rule on a child maintenance order if the divorcing or separating parties agree on an adequate amount to be paid and a schedule for payment.&However, if the couple cannot agree, an application must be made to the Child Support Agency for a child maintenance assessment to be carried out.

Marital assets in divorce

In many cases, it will be the division of marital property which creates the most dispute and contention during a divorce settlement. However, if, for instance, a couple which rents their accommodation merely has the contents of their home to divide up, it would probably be in their best interests to attempt to reach an agreement without the involvement of the court or legal advisors, but if there are any major assets, business interests or there is dispute regarding ownership of valuable belongings, an experienced family law solicitor is always best placed to ensure their client’s best interests are preserved.

Healys in London and Brighton for financial settlement advice

If you are in any doubt whether you would benefit from the advice, knowledge and representation of an experienced family lawyer then why not contact Healys today for a no-obligation initial chat about your circumstances.

Our divorce solicitors are committed to providing the most expedient and cost-effective legal advice possible, whilst always being mindful to ensure the best possible outcome for clients.

We pride ourselves on our ability to listen to your concerns, treat each financial settlement on divorce on its own merits and offer robust legal representation if required.

As members of Resolution our divorce solicitors in Brighton and London will always endeavour to conduct divorce negotiations in as amicable, constructive and conciliatory manner as possible, but we are always ready to take resolute action to protect the interests of clients should the need arise.

If you would like to talk to a member of our family team regarding your financial settlement on divorce you can speak directly to Catherine Taylor, in our Brighton office, on 01273 669 124 or e-mail on catherine.taylor@healys.com. Alternatively, to contact our London office call 020 7822 4000 or email London@healys.com