The Matrimonial Pot - a Loan or a Gift? A common question that often arises when dealing with financial aspects of a divorce is whether money and/or assets given to a married couple (individually or together) by a third party prior to, at the outset or...
It is important to obtain a financial settlement as part of that process to clearly set out your financial obligations toward each other in the future, or to achieve a clean break by closing the door on the possibility of future financial claims against you.
We understand the difficulty and distress that can arise when dividing assets. Our Enfield family solicitors will provide sensitive, objective and experienced guidance to help you through the process ensuring you receive the very best advice and support to achieve finality and certainty for you and your family.
What is involved?
A financial settlement can be used to work out arrangements for capital assets, pensions and income resources. Usually the best place to start is to work out what assets are available to each party. The process of financial disclosure can vary significantly depending on how straightforward or complex your case is and whether or not the court is involved.
Our family solicitors are Resolution Accredited Specialists in complex financial provision and are accustomed to dealing with difficulties that may arise in cases involving businesses, international issues, offshore trusts, inheritance, family settlements and pensions. We have also built up a network of some of the best family barristers, accountants and pension actuaries where external support is needed.
How a financial settlement is achieved will vary in each case, from informal negotiations between you and your former spouse or civil partner, negotiations between your solicitors through to a court ordered settlement. We will advise you about the different options available to resolve matters for you and whether family mediation is suitable. We take the view that it is preferable to resolve matters through negotiation and agreement, where possible.
There is no “one size fits all” formula for calculating your settlement. Once the resources are established the factors that can influence the outcome may include for example, your respective needs, whether you have children, your age and the age of your partner, how long you have been married, any significant contributions made by either of you both in financial or non-financial terms and whether either one of you has any particular disability or medical needs.
We will advise you upon the orders available which may include:-
- orders relating to the family home, whether it should be sold or retained;
- whether a lump sum payment of capital is likely;
- whether any relevant business assets should be sold, or retained and if they have a value how that should be set off against other assets;
- how to treat any debts that have accumulated;
- whether there is a need for orders relating to division of pension assets
- whether either spouse or civil partner is entitled to receive maintenance and if so the amount and duration of the maintenance;
- what financial support for children is appropriate.
We recommend that you come to see us at an early stage for clear guidance from our sympathetic and experienced team to assess your options and work out the best way forward for you.
Once a settlement has been achieved, our specialist family lawyers will draft a consent order where needed and oversee the implementation of your financial arrangements as swiftly as possible, to give you peace of mind for the future.
If you are married or in a civil partnership but do not intend to seek divorce or dissolution, read our separation agreements page. If you already have a court order as a result of an earlier financial settlement we can also assist with regard to variation or enforcement of orders.
Why we are different
We understand that your case is unique. From the very first meeting and throughout your case, we will discuss and agree how we can best support you and protect your interests.
Whether you need advice to enable you to work out arrangements with your partner directly, or advice during or after family mediation, or whether you require us to conduct negotiations on your behalf or represent you at court, our approach is tailored to best suit your needs.
Our ethos is to resolve issues in a non-confrontational manner where possible, whilst accepting that there are occasions where a more robust approach is necessary to protect your interests.
We will do everything we can to find the financial settlement that works for you and your family in a way that keeps the emotional and financial cost to a minimum.
Your Next Step
For more information, call us today on 0208 882 9850