Finances
It is a major concern upon the breakdown of the marriage as to how the party’s finances
are going to be resolved.
Procedure
It will be necessary for both parties to provide full and frank disclosure of all
their assets, income and liabilities for both negotiations to take place and orders
to be made.
What orders can the Court make?
There are a whole range of orders that the Court can make in relation to finances
such as:
- Periodical payments (maintenance)
- Orders for the sale of Property
- Orders transferring property
- Pension sharing/attachment orders
- Orders to pay a lump sum
What factors will the Court take in to account when dividing finances?
The court will look at:
- The welfare of any minor children.
- The income, earning capacity, property and other financial resources that each party
has or is likely to have in the foreseeable future.
- The financial needs of each party.
- The standard of living enjoyed by the parties.
- The age of each party and the duration of the marriage.
- Any physical or mental disability of either party.
- The contributions each of the parties have made to the welfare of the family.
- The conduct of the parties, but only if it is so bad that it would be unfair to
disregard it.
Independent Financial Advice
Our in-house financial advisers can offer independent
financial advice and have
many years experience of dealing with financial issues relating to divorce and separation
including pension sharing arrangements. For more information, please visit our financial
services section.
If you would like advice as to the likely division of finances upon separation or
divorce, please e-mail family@chattertons.com
or to arrange an appointment to see a member of our Family Law Team or telephone
one of the numbers below.
Contact Details
Family Team