Assisting in Your Financial Future
Finances
Separate from the divorce proceedings you will need to consider tying off any financial claims you may have with your ex partner. Consideration will need to be given about financial disclosure, how this is dealt with and how yours and/or your children’s needs are going to be met moving forward. The team of solicitors at Loose Legal are equipped with years of experience to help you navigate your way to a financial settlement.
Navigating Matrimonial Finances with Care
One of the most complex aspects of a marital or civil partnership breakdown is deciding how to divide your matrimonial finances. This crucial step allows you to move forward independently, ensuring you're not financially tied to your former spouse. Whether your assets are held jointly or individually, several factors must be considered, including:
Income and Earning Capacities
It may be that one person was the main wage earner during the marriage, leaving the other person in need of some support. This support may be for a short time to allow them to re-train or get back into employment. Our experts can discuss with you the best way to approach this.
Needs
One of the most important things to consider is the needs of everyone involved moving forward, including children. This can include housing needs and income needs.
Contributions
It may be the case that one person made a greater contribution to the marriage. We can discuss this with you and look at whether this is something that could be taken into consideration.
Duration of the marriage
The way financial matters will be looked at can be influenced by the length of the marriage itself. It may be necessary to consider periods of co-habitation in the cases of short marriages. Speak to us about how this could impact your situation.
Ways to reach a resolution:
Private Negotiations: We believe in a cooperative approach where both parties openly discuss and determine the financial settlement.
Mediation: A neutral mediator guides you towards an agreement, fostering open and constructive communication.
Negotiations through Solicitors: Our legal experts facilitate discussions to ensure a fair resolution is reached.
Once your financial settlement is achieved, we formalise it in a court document called a Consent Order, providing both parties with peace of mind, knowing that these agreements are legally binding and secure.
When Agreement is Challenging
If you and your partner face challenges reaching an agreement, we can navigate you through the process of court intervention.