Burnett Barker Solicitors will guide you through the divorce settlement process so that you reach the best possible financial settlement for your family.
If this is the first time you’ve been through a divorce, you’ll likely have several questions such as:
What will happen to the family home? Will it have to be sold and if so, how will the proceeds from the sale be divided?
How will the housing needs of our children be met?
What money will I have to live on?
What level of child maintenance can I expect to receive or need to pay?
How should all our other financial assets be treated?
What about my pension, does that count as a matrimonial asset?
What protection is available?
The law doesn’t provide basic protection, so couples in this situation must take action to protect themselves and their family. There are a number of ways to do this:
- A cohabitation agreement will set out both partners’ intentions around property, finances and how they would support their children if they separate.
- If acquiring property jointly, ensure both names are on the deeds to the house, and enter into a declaration of trust if parties intend to own in unequal shares.
- Taking out life insurance and creating a will are also recommended
It’s completely normal to have lots of questions about what happens during a divorce financial settlement. No two families are alike and so you’ll have concerns that will also be specific to your own financial situation.
Divorce and financial settlement expertise
Our experienced family lawyers have the expertise to help you reach the best financial settlement for you.
Your financial settlement and the law
There are many ways our family lawyers can help you reach a suitable financial settlement with your spouse. This could be by negotiation, mediation, through the collaborative process or by making a financial order application to the court. In all cases, the same legal guidelines are used to find the best financial settlement for your family.
Despite popular belief, the answer to ‘how much will I be entitled to?’ is often not ‘half of everything’.
When coming to a decision on your financial claims, the court’s first consideration is for the welfare of any children. They consider:
- The income, earning capacity, property and other assets of financial value
- Your ages and duration of your marriage
- Any health issues you may have
- Your financial needs and responsibilities both now and in the future
- The standard of living you have become accustomed to during your marriage
- The contributions you and your ex-partner have made to the welfare of the family, both financial and in caring for the children
- Your behaviour and that of your ex-partner (only where serious financial misconduct has taken place)
Even if you do not have children, you may still have financial concerns. Perhaps you own a business or your partner does? You’ll need to consider its value, any financial contributions that have been made, dividend payments, financial interests or shares of other family members, amongst many other things.
Burnett Barker Solicitors’ approach to financial settlement
There are many factors to consider. In meeting with our family law solicitors, we’ll quickly ascertain your financial position and personal circumstances to give you the best advice as to what the possible outcome might be. We’ll draw on our vast amount of experience to advise you on:
- Your financial arrangement options during separation
- The information required for financial disclosure
- How to gain a valuation on pensions, property, trusts and any business interests
- Possible terms of settlement, including the division of assets
Discover your options for a fixed fee
If you want to know where you stand and what your options are, we offer a one-to-one family law consultation for a fixed fee of £149. Most clients discover something they were unaware of in this consultation, which reaffirms how important it is to find out what your options are.
Simply call Burnett Barker Solicitors on 01284 701131. You can also send us a message, or pop in and see us at 20 Whiting Street, Bury St Edmunds - we have free parking on site!
Other services you may be interested in...
As your family circumstances change, you may need advice on a range of other matters. It could be that you need us to help you buy or sell a home, or perhaps you need your Will re-written now that life is different. Please just ask if there is anything we can help you with.
Sometimes you just need to know where you stand and what your options are. That's where our fixed fee consultations can be invaluable, giving you the opportunity to discuss your situation.