Divorce and Finances

 

When a married couple Divorce it becomes necessary to consider how their matrimonial finances should be divided.  This can be quite complicated and it is important to have the benefit of specialist family law advice.

At Tanners our team of specialist Family / Divorce lawyers have a wealth of experience to ensure that you receive expert legal advice.   Elizabeth Saunders and David Milburn strive to provide excellent client service whilst achieving the best possible results for our clients.  We understand how stressful and emotional a Divorce can be especially when it also becomes necessary to consider how to divide the assets of the marriage.  We remove the stress and burden of resolving these issues.

It is often when finances are discussed, between a separating couple, that relationships become strained and matters can become more acrimonious.  At Tanners we are with you every step of the way.  We will carefully listen to your preferred approach and with our experience and skill we will guide you expertly through the process.

Financial Disclosure

In order for any divorce lawyer to advise how matrimonial assets should be divided it is necessary to engage in a process of disclosure.  This disclosure enables both parties to fully understand the financial circumstances of the marriage and to make an informed decision.  This disclosure process is usually incorporated within a Court form called a Form E.

The disclosure process can take place on a voluntary basis.  This generally requires a constructive and co-operative approach.  Unfortunately, sometimes parties can be unwilling to exchange disclosure and therefore a Court application (also called an application for Financial Relief) may be required.  The benefit of a Court led approach is that a strict timescale is implemented within which disclosure takes place.  The Court have the power to order a reluctant spouse to disclose their assets (read more about Non-Disclosure and Finding Hidden Assets here).

Orders the Court can make

The Courts have the power to make the following orders:

  1. A Lump Sum Order (an order that one party pays to another a lump sum of money);
  2. A Property Adjustment Order (an order that provides typically for a sale or a transfer of a property);
  3. A Pension Sharing Order;
  4. A Periodical Payments Order (also known as a Spousal Maintenance Order).

It is crucial to obtain a Court Order that sets out clearly what the financial settlement is and importantly dismisses all financial claims.  This is commonly referred to as a Clean Break Order.

Strategy

In Court proceedings is it important to have a clear plan and strategy from the outset of the case.  This will ensure that you achieve the financial settlement that meets your needs.  We understand our client’s needs and deliver the best financial settlement that provides for those needs.