Divorce Finance

Our Family Law Fees |  Financial Matter FAQs  (coming soon)

The family finances are usually the main contentious legal issue when a couple divorce. Important decisions need to be made about splitting assets so that each party can move on without any entanglement. There will be disputes over how the family assets should be distributed, who is more entitled or deserving, short or long term monthly maintenance for a spouse or children & whose needs should be met first or what is ‘fair’. Reaching a financial settlement can cause arguments & heighten existing hostility thereby hindering solutions resulting in higher lawyer’s fees and legal costs.

It would make sense for a couple to preserve as much of their assets as possible for distribution between themselves in perhaps an already small pot of assets rather than use that to fund solicitor’s fees.

How can Freeman Harris Solicitors help with your financial matter?

Freeman Harris solicitors therefore assist on settling these disputes via out of court negotiations whether that be through us or independent mediation and we will be there with you every step of the way until you reach a final agreement and help to implement that agreement. If a settlement cannot be agreed, then we will advise, assist and represent you in a court application if deemed absolutely necessary to resolve the conflict. The rules are the same whether you are married or in civil partnership’.

When negotiating a financial settlement for a married couple, factors that are taken into account include:

• Children (if any) – their financial needs and what may affect their future well-being
• The length of your marriage
• What you currently learn and the income of your spouse
• Potential earning capacity of each party in the future
• Assets of each party (including pensions)
  The standard of living the couple have enjoyed during the marriage
• Financial contribution that each party has made to the marriage
• Other contributions that each party has made to the marriage (non-financial), such as caring for the children, looking after the house or supporting your spouse’s career

The law treats cohabiting couples differently and the above factors are not applied in deciding on a settlement. There will nonetheless be arguments over –

• Family property whether that be in joint names or not and the extent of the parties legal and beneficial ownership in it
• Children/rights of unmarried parents/ maintenance and financial support
• Occupation of the family home

Consult one of our financial settlement lawyers for further advice on your rights.