Financial settlements

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One of the most difficult matters to deal with when a relationship breaks down is who gets what.  In divorce and dissolution proceedings this is termed financial remedy.

Don’t I just get half?

A common expectation is that there will be a 50/50 split of the combined assets (and debts) of the parties.  The reality is that life is rarely that simple.

So how do I get a ‘financial settlement’?

It is normally better, emotionally and financially, if partners can agree between themselves how the assets should be spilt.  This would normally be negotiated through their respective solicitors.

In order to reach an agreement you will first need to have all the facts.  You should both fully and honestly tell the other about all assets and discuss with them future plans, i.e. any intention to re-marry.  The two of you then need to think about the things that a court would consider in reaching a decision.  These include:

  • The welfare of any children
  • Each person’s income, assets and earning capacity
  • Each person’s financial needs
  • The standard of living for each before the marriage broke down
  • The age of each person and how long the marriage lasted
  • The contribution of each person to the family’s welfare (including bringing up children)
  • Any serious disadvantage caused to either person by the end of the marriage

Once agreement is reached it will be drafted as a consent order for the courts approval.

What if we can’t agree?

This is not unusual, despite the best intentions.  Sometimes there is just one thing at the root of the disagreement and sometimes there are completely differing views.  Whatever the disagreement, if you have reached a point where further discussion is fruitless, or worse, then you will need the help of the court.   Whilst this may seem daunting your solicitor will advise you, make all the arrangements and prepare all the necessary documentation for the case.

We will always strive to help you reach your goal without the need for court proceedings but we do not shy away from advising this course of action if it is what is best for you.

We will assist you with all paperwork and advise you throughout.  We will give clear constructive advice about the merits and also any deficiencies of your case and work hard to achieve the best possible outcome.

For further advice or to arrange your free initial consultation please contact Rachel, Amanda, Kathryn or Jonathon on Plymouth 01752 668246 or send an email by clicking here.

Rachel Shoheth
Amanda Lyons
Kathryn Akintunde
Jonathon Yates