Financial settlements are one of the hardest things to deal with when a marriage breaks down. Working out how assets and liabilities should be divided is a complex process. Everyone’s circumstances are different. Each case must be approached on its own facts and the outcome in every case is likely to be different.
The Matrimonial Causes Act 1973, and in particular the section 25, contains factors that must be considered in every financial settlement. These include both party’s income, earning capacity, property and other financial resources together with their financial needs, obligations and responsibilities. All factors are considered both at the time of the divorce and in the foreseeable future. The needs of the children are an overriding consideration when considering all of the other section 25 factors.
It is usually beneficial to try and reach a settlement by negotiation rather than resorting immediately to Court proceedings. Often the cost is much less, both financially and emotionally. Our family team always strives to keep divorce proceeding as non-confrontational as possible, although we will not be bullied by others. In some cases though, it is not possible for the parties to reach an agreement without the assistance of the Court. If Court proceedings for a financial remedy are necessary in your divorce we will guide and support you throughout the process.
Whether you reach agreement or require Court assistance, to ensure that any arrangement made is final and binding, it must be incorporated into a Court Order. The aim of the Court is to achieve fairness but it is not bound to divide assets in a particular way. The Court has discretion to make whatever Orders they feel are appropriate in every case. Our team will assist in achieving an Order in the correct terms.
We will always do our best to ensure that you receive what you are entitled to. We will help you to obtain the best possible settlement for you and your family.
If you are looking for a divorce financial settlement solicitor in Plymouth, Plympton, Plymstock and the surrounding area, choose Gard & Co. Solicitors.