Finances on Divorce
The end of a relationship often gives rise to stress, heartache and animosity. It is a difficult time to resolve the financial implications of the end of the relationship.
Reaching a settlement can be the hardest part of the divorce process, and often the most hotly contested. The outcome of any financial arrangements will have an impact on the parties long after the divorce has been finalised and the parties have begun to build separate lives.
Housing children, meeting both parties capital and income needs, protecting businesses and ending financial inter-dependence all have to be considered.
Financial Settlements in Divorce Cases
Reaching a settlement in a divorce case can be a complex and lengthy process, particularly when there is little agreement between the two parties. Any settlement must represent a fair division of the available assets and ensure that the needs of any children and both parties are met. Deciding what is fair in a family case can be very difficult.
Both parties must provide detailed information about their financial circumstances. It is the sad reality that not everyone is willing to do so on a voluntary basis. There are times when assets may be difficult to identify, locate or value. Sometimes one party may have hidden or disposed of valuable items that need to be recovered. The steps to be taken will vary from case to case and the final agreement will always be tailored to the needs of each individual family.
Ideally parties will be able to agree a fair settlement that allows them to become independent of each other or that sets a reasonable level of maintenance for the economically weaker party. To be legally binding, any agreement must be set out in a consent order submitted to the court for approval. A judge will need to be satisfied that the proposal is fair in all circumstances failing which the order will not be made and the agreement will not be binding.
Help with financial settlements from Dinah Loeb
Whilst ideally couples can work together to reach a fair and mutually beneficial agreement, in many cases this is not easy or simply not possible. A fair agreement normally requires a clear financial picture and not everyone is willing to give the necessary information voluntarily, alternatively unreasonable requests for disclosure may be made that must be opposed. As a result, the process of reaching a financial settlement can become adversarial with each party having to defend their needs and interests. Ultimately the court makes the final decision on how assets will be divided based on the arguments put before it.
Expert professional advice and representation can make all the difference between a fair settlement and one where you receive far less or give away far more than you are entitled or required to. As a barrister and former solicitor, I have over 20 years experience representing clients in matrimonial finance case. Many of my cases have required me to take steps to ensure proper financial disclosure. I have considerable experience in cases involving companies, inheritances, assets held by third parties and with international aspects. As a barrister, I am a specialist advocate and legal expert. I can help you to secure the most favourable settlement in your divorce proceedings. I can provide expert help and advice on your rights, the steps that need to be taken to protect assets and ensure disclosure and the likely outcome of your case.
If a settlement cannot be negotiated I will provide you with robust representation in court to help ensure that any final order is the best that you can achieve.
For expert advice on finances and divorce, please contact me today 0207 993 7777 or Email: email@example.com