Financial Issues Following the Breakdown of your Marriage

Financial issues can often be the most significant and worrying concern to resolve following the breakdown of your marriage. The future may look uncertain and it is usual for parties to be concerned about issues such as where they will live, how living costs will be met and how to secure a financial future. 

Each situation is different and must be approached taking into account individual circumstances. It is a common misconception that the assets of the marriage should always be divided equally. While this is a start point it is very rarely an end point especially if there are modest assets and two homes need to be made from the proceeds of one. 

The family courts have wide discretion when considering the division of the assets and take into consideration amongst other things the needs for housing and maintaining the children of the marriage, incomes, earning capacities and the length of marriage. 

Often parties are unaware of the true extent of the assets of the marriage. We will guide you step by step to identify the assets of the marriage, negotiate a financial settlement, and if necessary advise you throughout the court process. We have the expertise where there are issues concerning businesses, transfers of properties, significant pensions, family trusts and international assets. 

Even if you do not have any assets, or have come to an agreement with your spouse, it is vital that the financial agreement is approved by the Court. Without this approved order, your former spouse may have a claim on your assets in the future, even if these were acquired following your divorce. We can assist you with the preparation of this order, ensuring that it is approved by the Court. 

At Martin Tolhurst Solicitors we have specialist solicitors who can guide you through this difficult process and to assist you in resolving matters at the earliest opportunity. At all times we assist you in achieving a fair and reasonable settlement for approval by the court, preferably by negotiated agreement rather than through disputed court proceedings. In either case, it is important to obtain expert legal advice specific to your individual circumstances, as you only have one chance to achieve a fair and reasonable outcome for you and your family. 

For further information call our New Enquiries team on 0800 0271452 to find out how we can help you.