Finances On Divorce/Separation
Whether you are resolving financial matters because you are getting divorced or due to a separation, your financial considerations will be very similar.
There are no set rules or calculations regarding what should happen financially on divorce, Judges have considerable discretion to take into consideration a number of factors such as the length of the marriage, whether there are dependent children, parties housing needs and the source of assets. No two cases are exactly the same and each case will have unique issues and considerations.
It is therefore, of paramount importance to obtain early advice about what you could reasonably expect to receive, from an experienced solicitor who specialises in this area of law, as it is a complex one with numerous pitfalls. Here at Acclaimed Family Law we have some of the most experienced solicitors in the area who deal primarily with divorce and financial matters and who are known as formidable experts in this field, offering expertise and in-depth knowledge of businesses, property portfolios, tax, pensions and international property as well as inherited assets and substantial contributions to marital assets by one party.
In addition, we have links to a wealth of pension, tax and forensic business experts, providing their expertise when required. In most cases the primary consideration is to meet both parties and their children’s reasonable needs including housing needs. The standard of living enjoyed by the parties will need to be considered as will any extenuating factors including family businesses, substantial or significant contribution and the income of parties moving forward.
Considerations which could affect how income and assets are split include:-
One party bringing assets into the marriage or introducing monies into the marriage by way of inheritance or other significant contribution.
The presence of a business and its value.
The earning potential of parties both now and in the future, in light of the length of the marriage and ages.
The needs of any dependent children.
Whether one party has a disability or a disadvantage which may require additional assistance and support in the future.
Disparity in pensions built up during the period of the relationship.
It is important that parties obtain legal advice. Acclaimed Family Law offers a free initial consultation with an unrivalled service of advice, information and support to prepare you for the next steps.
If you would like free, no obligation advice regarding how your finances could be affected on divorce or separation, please complete the accompanying form or call us on 0114 5517555 to arrange a 30 minute consultation.
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Michelle is good at fine detail, is thorough in her approach and knows her stuff 100%. She advised on the best way to separate a complicated property business and put together a watertight case in court in conjunction with a superb barrister…..Michelle sees a person, not just a number. MRS S