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Marriage breakdown can have major implications for your financial situation. Your current income and assets will need to be shared between two households.
This might feel quite daunting and undoubtedly cause significant worry. Perhaps you have worked tirelessly to build your business or you have a pension which you've contributed to for years and may be wondering if these will be threatened. Some of your worries may be about how you will manage your housing costs and the needs of your children on just one income.
Your Financial Needs
Our experienced Divorce and Family Law Solicitors will ensure you received the best legal advice – no matter how complicated your case may be. We also have Resolution Accredited Solicitors one of whom specialises in Complex Finance Remedies and Children Law. All our Family Law Solicitors will have your best interests at heart, right from the start and will do their best to protect you, your assets and your financial needs.
The divorce itself does not conclude financial matters, so the right to claim financial provision against your spouse does not end on divorce either. It is vital therefore that you receive the right legal advice to ensure you achieve a clean break and that you are not left vulnerable to a claim from your spouse in the future.
A Court Order recording your financial settlement is one of the most important legal documents you may ever sign.
You may be tempted to apply for an online divorce thinking it will be a quick and easy option, however, in order to safeguard your financial situation from future financial claims from a spouse, you need to get the best legal advice.
Working alongside our specialist Divorce and Family Law Solicitors we also have In-house financial advisors on hand who can advise you on the impact of any financial settlement.
When divorce proceedings are issued, and even after they have concluded, the Court has powers to make the following Orders:-
- Maintenance between spouses
- Orders for the sale or transfer of property
- Orders for lump sum payments
- Orders in respect of other capital assets such as shares and endowment policies
- Orders in respect of pensions
No set formula is used when deciding which Orders should be made; the Court is required to take into account all circumstances of the case. As a starting point the marriage assets are divided equally using the ‘equal sharing’, ‘needs’ and ‘compensation’ as guiding principles.
Consideration is also given to children under the age of 18 years Needs, particularly housing needs are usually given priority but this can result in unequal division of matrimonial assets where equal division will not meet the parties’ needs.
Different judges will reach different decision so it is very difficult for us to predict the exact outcome of your case. That’s why it is best to seek the best legal advice you can to ensure you have the best possible outcome.
From our 3 office locations in Oldham, Tameside and North Manchester (Junction 22 of the M60) we help people, in your situation, across Oldham, Saddleworth, Failsworth, Hollinwood, Manchester, Stalybridge, Hyde, Rochdale, Bury, Tameside, Glossop, Stockport, Cheadle, Sale, and Altrincham areas.