One of the things many people worry about when a relationship breaks down is how they will manage financially and what arrangements can and will be made.
When dividing assets, the aim is to achieve fairness by taking account of the needs of both parties. We will advise you what should and should not be taken into account when calculating the assets for division.
The first consideration will be given to the welfare of any children under the age of 18. The following will then be considered:
• Income and earning capacity and financial resources of each party
• Financial needs, obligations and responsibility of each party
• Standard of living enjoyed by the family before the breakdown of the relationship
• Ages of each party and the length of marriage or partnership
• Physical or medical disabilities
• Contributions each party has made or is likely to make to the welfare of the family
• Conduct of each party, if it would be unfair to disregard it
• Value of anything which the other party loses the benefit of acquiring because of divorce or dissolution
In most cases the courts no longer have the power to make orders for child maintenance. If agreements cannot be reached, an application would need to be made to the Child Maintenance Service.
It is important that full disclosure of the financial position of each party is obtained, including finance, property and pensions.
Many people find it helpful to discuss arrangements for children and financial matters in mediation when both parties meet jointly with an impartial mediator to discuss the issues and, hopefully, to find solutions which are acceptable to both. If you would like to consider mediation, please contact us for more information.
How we can help
Our expert team of family lawyers understand your concerns and will give you advice and support to help you achieve the best result.
Firstly we will work with you to try and negotiate constructively with your spouse or partner, either through solicitors or in mediation. If this is not possible, we will guide you through the process of making an application to court.
If you would like more information, or just want a confidential chat about your options please contact our friendly, supportive team today.