Financial matters on a divorce can raise the following
- Division of Property
- Division of Pensions
- Division of Assets
- Joint Debts
- Financial Provision for Children
Although these issues can be dealt with at the same
time as divorce proceedings , they are not dealt with within main divorce proceedings themselves but are actually separate.
Financial matters can resolved amicably but if Court proceedings are necessary proceedings may need to be issued. These
are known as "Ancillary Relief Proceedings".
Unfortunately it is not always
as simple as dividing assets 50/50. settlement can be based upon a variety of factors such as that person's income,
contributions made to the marriage by looking after children and their future income needs.
Case law and legislation, in particular The Matrimonial Causes Act 1973, help us to ascertain what is a fair settlement, although it is not an exact science and there can
be room for interpretation.
Court proceedings can be expensive and therefore we
will attempt to reach an agreement through careful negotiation without the need to attend court. If an agreement is
made between the parties then this can be formalised in an agreement called a "Consent Order" which is then sealed by the
court. This dismisses any future financial claims by either party.
However, matters are not always agreed by negotiation
between the parties in those cases then Court proceedings may have to be issued. It will then be up to the Court
to decide on a fair settlement. The settlement reached is then recorded in a Court Order.
We have an experienced specialist team that deal with this complex area
of law. They can be contacted on freephone 0800 1071 207 or to email click here.
For further information on property and finances click
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