Jan 08

Divorce Day?

Posted by gowenstevensadmin on Monday 8th January 2018

Divorcing from a spouse can be an extremely challenging thing to do emotionally which can be made worse by the financial pressures which the divorce may bring with it. In the vast majority of cases there is no getting around the fact that people will need to start cutting their cloth according to their means. This can be a difficult challenge to face when one is already feeling cut adrift from a partnership. Advice is often helpful if not essential. A friend will tell you want you want to hear whereas we will tell you what you need to hear.

It is extremely important to consider instructing a solicitor who can help you navigate the choppy waters. The reports today in the BBC suggest average costs and waiting times for a financial settlement to be reached. http://www.bbc.co.uk/news/business-42598969. There are many things which need to be considered when instructing a solicitor to help you. It is true that the cost can be high but we aim to help you get through the process as efficiently as possible. There are some factors which make a divorce more complicated or expensive and these can include tracing undisclosed assets or resources, tracing spouses, agreeing the value of certain assets, establishing whether your spouse is the owner of a resource or whether it is owned with someone else and paying for barristers to represent you at a hearing or to provide you with a legal opinion on a complicated matter. A lawyer is the best person to advise you when these costs are necessary and if they are proportionate. As family lawyers we manage the process for you and advise you what steps you should consider taking and when in order to obtain a financial settlement. We co-ordinate with other professionals to manage your case until we are in the position to be able to draft the terms of your agreement into a consent order which can be approved and sealed by a judge. Ultimately the court need to make sure that the terms of your agreement are acceptable to the court before they will give it the seal of approval.

It is not widely known that an application for a financial remedy from a marriage can be made many years after a divorce. It may be tempting to consider that the cheapest option is to reach an agreement with your spouse without involving the courts but this can be an expensive mistake and one you could regret once your ex-spouse issues proceedings against you for a financial remedy because they have not be careful with their money after the divorce. Although painful it is best to deal with the finances at the same time as winding down the marriage.

We always consider the cost of an exercise with the overall benefit for the client. Although it can be tempting to dig your head in the sand while facing an emotional earthquake delays can be expensive in themselves. They can allow a spouse to hide or spend resources which will put them out of your reach forever. It also delays the emotional satisfaction that certainty from concluding a settlement can give you.

We are here to advise you and to give you assistance when you need it. We can advise you in relation to individual parts of the process or we can give you assistance throughout the lifeclycle of your case.

If you are considering a divorce then the first things you will need to consider are:

  • The reason that you consider the marriage has broken down. This is important as you will not be able to ask the court to consider your financial settlement until divorce proceedings are in process.
  • The value of the matrimonial resources and whether there are any resources that you or your spouse will be able to argue should not be considered to be matrimonial resources.
  • Where you will live after the divorce. You will need to actively search for suitable properties.
  • Whether you have a mortgage capacity. You should contact mortgage brokers to help you.
  • What your monthly expenses are going to be after you separate from your spouse and how you will be able to manage these. It is possible to get an Order from the Court giving you monthly payments from your spouse to assist with these expenses if you are entitled to them.

Please get in touch with Aaron O’Malley in our Matrimonial Department if you need any further advice about matters discussed in this article, on 020 8661 8611.

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