Why Choose Our Financial Settlement Services in Your Divorce?
Divorce & Financial Settlement - What You Need to Know?
A number of factors are taken into consideration which can, in some cases, lead to unequal shares of the family assets. These include:
*The welfare of the children
*The ability of each partner to earn money in the future
*The future financial prospects of each partner – for example whether they have private pensions
*The ability of each partner to rehouse themselves
Typically, financial settlements will deal with:
- The family home and any other property you may own
- Financial assets – including bank accounts, pensions, savings, and shares
- Ongoing responsibility for debt – including mortgage debt
- Spousal maintenance and child support
In most cases, family courts will seek to bring the financial relationship between the husband and wife to an end as soon as possible. But if doing so would seriously compromise the welfare of one party, such as leaving them in poverty, that relationship may have to be prolonged – in some cases for life. In general it is assumed that each divorced spouse entitled to a lifestyle similar to the one they enjoyed during the marriage.
A settlement which permanently ends any financial relationship between the parties to a divorce is called a ‘clean break’. There can be advantages and disadvantages to such an arrangement.
In most cases, settlements will be agreed between the parties – usually with the help and advice of their solicitor. This resulting agreement is then ratified by a family court Judge and made into a binding ‘consent order’.
There will only be a court hearing in relation to your financial settlement if you and your former spouse are at loggerheads and unable to reach agreement.
This is a complicated area of law and one that is fraught with potential pitfalls. But a fair settlement could be crucial to ensuring your future. So do seek informed legal advice. Atlas Family Law in central London specialise in just two fields: family and immigration law. This means they can offer a truly personal service and guide you every step of the way, helping to ensure you receive everything you are entitled to. For a free confidential discussion about your finances, please call us on 0207 993 8880 or fill in the form for a call back.
Financing may be available if you are worried about the costs of legal advice.
We offer no obligation, 30 minutes free consultation with a specialist Family Solicitor. During this free consultation the solicitor will provide you with legal advice, explain any relevant procedures to you and go through the options available to you.
We are happy to arrange an initial consultation to take place either in the office, by telephone or by video (i.e. Skype, FaceTime or Whatapp video). If your consultation is going to take place via telephone or video, we will ask you to send us your photo ID before the meeting.