Navigating Your Finances During Divorce:
When it comes to settling your finances during a divorce, there are various paths – negotiation, mediation, collaborative solutions, or court orders. Each case is unique, and there’s no one-size-fits-all approach.
The court follows specific guidelines, with the welfare of any children under 18 as the primary concern. Beyond that, they consider:
1. Financial Resources:
– Your income, earning capacity, and assets, expecting both parties to contribute reasonably.
2. Financial Needs:
– Your current and future financial needs, obligations, and responsibilities.
3. Marital Standard of Living:
– The lifestyle maintained during the marriage.
4. Age and Duration:
– Your age and how long the marriage lasted.
5. Health Conditions:
– Any physical or mental health challenges.
6. Contributions to the Family:
– Contributions to family welfare, both financially and in terms of caregiving.
7. Conduct:
– Relevant only in cases of serious financial misconduct or violence affecting earning capacity.
While high-profile cases in the media might set precedents, your situation could differ. Despite the common belief in a 50/50 split, especially in short marriages or with children, it’s often the parties’ needs that guide the settlement.
For expert assistance, divorce financial settlement solicitors, like Aristone Solicitors, can provide guidance on various aspects:
– Financial arrangements during separation.
– Gathering information for financial disclosure.
– Valuation of pensions, business interests, trusts, and property.
– Presenting financial disclosure.
– Potential settlement terms for asset division and income.
Financial disputes can be costly, so cooperation and seeking professional advice can lead to a fair divorce settlement that suits everyone involved. Aristone Solicitors offer quality advice at affordable rates, prioritising equality and diversity.
Expertise:
Meet Ms. Kuljit Lally, our seasoned expert Solicitor with over 20 years of experience in divorce and financial settlements. If you have questions or need guidance, reach out to our client relations team through the phone numbers on our website. They’ll gather your details and connect you with Ms. Lally. She’ll provide advice on what to do next, how we can assist, and, crucially, explain your legal rights.
