FINANCIAL MATTERS ON DIVORCE

A brief explanation of the general principles is provided below.

When parties are separating, the finances of the parties must be considered as the assets need to be divided between the husband and wife so that they can live separate lives.

We will have to look at:

The property owned by the parties

Money: savings and any investments

 Pensions

Cars

Business

Personal items worth £500 or more

Debt, loans and credit cards

We will try and get the parties to reach an amicable agreement; often referred to as a settlement. The agreement is drawn up and signed between the parties.

Where the parties are unable to reach an agreement regarding the finances, then the parties will have to attend a series of court hearings where they would be encouraged to settle. No agreement, there will be a final hearing regarding finances and the Judge will impose what he believes is a reasonable order which will be legally binding on both parties.

 

Our expert family lawyers are willing to help you with all aspects of your divorce and encourage settlement at all stages.

Date: 11 December 2021

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