Dividing assets in a divorce
Dividing money and assets in a divorce
Going through a break-up is never easy and getting to grips with your finances at the same time can add enormous stress to the situation. You’ll need to think about your position concerning all the marital assets and how they should be divided up fairly. It is a common misconception that matrimonial assets will be split 50/50 on divorce; however, this is generally only a starting point. Many factors will be considered while seeking a way to divide assets in a way that is fair and equal.
An experienced family law solicitor can help you deal with financial issues sensibly so that both parties reach a fair solution.
Coming to an agreement
Financial settlement negotiations begin with both parties declaring all their assets to each other. Although the majority of people do reveal the full extent of their financial situation to their spouse, it is not always the case. However, hiding assets during a divorce goes against the principles of the process, and the consequences can be serious.
Coming to an agreement over financial affairs is one of the major steps in a divorce, separation or dissolution of a civil partnership, and is often a highly emotive and complex set of discussions.
Financial settlement agreements
Resolving money issues in out-of-court divorces and separations is done through a financial settlement agreement. Our approachable and experienced financial settlement team will help you understand the issues at hand and support you throughout the negotiations, providing the guidance and reassurance you need to reach a successful conclusion.
The objective of the financial settlement is to ensure that the reasonable needs of both parties are met, as are those of any children involved.
One of the better ways to reach an agreement is through out of court negotiation with the aid of a mediator; we are skilled in this collaborative process helping clients resolve money issues in divorce in a timely, cost-effective manner.
Where this is not possible, it will be down to the courts to make the decisions for you.
Contact us regarding financial settlements
If you need assistance with financial disputes in divorce or separation, or would like information on what your rights are, contact us on 0333 323 5292, or fill in the enquiry form on this page and we will get back to you shortly.
“The team at Lupton Fawcett is exceptionally well led, adopting a professional yet highly family-centred approach. It actively promotes non-court-based solutions and collaborative approaches where possible, whilst still being realistic about when court is the only solution to move a situation forwards.”
The Legal 500