Financial matters on divorce
There are a number of ways in which financial matters can be resolved and you should not assume that you will automatically end up in Court. Possible options to resolve financial matters are as follows:
- Reaching agreement directly and asking your solicitor to draft the paperwork necessary to effect that agreement.
- Mediation - where a trained third party meets with you and your partner to help you resolve matters. A mediator is neutral and will not take sides. Once agreement has been reached, your solicitor should draft the paperwork necessary to effect that agreement.
- Collaborative law - each person appoints their own solicitor but instead of conducting negotiations between you and your partner by letter or phone you and your respective solicitors all meet together to work things out face to face. Collaborative solicitors sign an agreement with you that disqualifies them from representing you in Court if the collaborative process breaks down.
- Traditional Negotiation/litigation - you appoint a family solicitor who focuses on your interests and negotiates with your ex's solicitor. If agreement cannot be reached, an application is made to the Court for them to assist with the resolution of matters.
It is important that you chose the right option for you and your solicitor should give you more information so that the best course of action is followed.
In order for a solicitor to advise you as to a possible settlement they will require full and frank financial disclosure. When considering financial matters (known as ancillary relief), the Court has a very wide discretion as to the Orders it can make however the first consideration of the Court will be to any dependent children of the family and to ensure they are housed.
At rhw we are experienced in advising low to high income families and advise on all financial matters that might be involved to include maintenance pending suite, freezing orders, spousal and child maintenance, pensions, bankruptcy, lump sum order, trusts and property.
Because everyone's circumstances are different, this is a particularly complex area of the law and you should seek specialist advice.
If these matters effect you please complete a contact form or call us directly on 01483 302 000 or email samantha.jago@www.rhw.co.uk
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