When you have complex financial issues to be resolved due to a separation or divorce, you need to have confidence in your adviser as high value divorce (or civil partnership dissolution) cases can require complex negotiations.
At Banner Jones we can provide additional support through Banner Jones Wealth Management. By receiving financial advice during the divorce process we can guide you and help you plan for a future of financial stability. The financial adviser can even be involved in a three way meeting with your solicitor should you wish.
We know that this is a time of extreme distress and instability and it is essential that you have a team of highly qualified divorce lawyers who have the experience and understanding to help you through this extremely difficult area of law.
The Family Law team at Banner Jones have been 'Recommended' by the UK Legal 500 for 6 consecutive years, ranking them against some of the best in the country. Let us help you.
He's got to keep a roof over our heads hasn't he?
Non-residential parents have to pay maintenance for their children; hopefully the amount can be agreed though negotiation and if not then the CSA will decide. Each case is different. If for example the Mum and the children stay in the family home then she may relinquish her claims over any other assets such as pension and savings in return.
How soon can I file for Divorce?
There is a 12 month barring rule which means you can start the divorce process after being married for 1 year. In England you can get divorced if your marriage has broken down irretrivably, usually proved by allegations of adultery or unreasonable behaviour, or if there has been 2 years' of continously living apart.
My aunt only has one bank account. Can I deal with this on her behalf?
If the bank allows, it is possible for your aunt to name you as a third party on her bank account. This will allow you to withdraw funds and sign cheques on her behalf. We can help your aunt complete the mandate form required to put this in place.
What am I entitled to in a divorce? Can she take me for every penny?
No. Sometimes it may feel as though this has happened. The aim when sharing out matrimonial assets is to be fair. Both spouses have to make full disclosure about their assets and debts before any decisions can be made about distribution, trying to hide anything won't work. Factors which are important when sharing out the assets include the current and future needs of each spouse and any dependent children; the length of marriage and the age, earning capacity and contributions of each party.
What is taken into consideration when dividing marital assets?
In the absence of a negotiated agreement between the parties on marital assets the Court will apply its own discretion. Below are some of the main things which may be taken into consideration.
- The length of the marriage/civil partnership has an impact on the Court's decision, the longer the marriage the more tendency towards equality.
- The relative contributions to wealth created during the marriage/civil partnership. This does not mean that 'stay at home' spouses will necessarily receive a smaller settlement. If they can demonstrate that they provided the environment and support which enables the 'go getter' to amass wealth, then there is every chance of them being awarded a significant proportion of the assets. If they can prove for example that their own career has been put on hold to look after children this would be part of the consideration.
- Wealth brought into the marriage/civil partnership by each party. Usually, the 'non-marital' assets are divided in the proportion in which each spouse introduced them. Family inheritance is very complex area when it comes to division as the particular context in which the inheritance was given is taken into consideration.
- Pension rights. It is important to remember that pension rights form part of the marital assets and these can be divided.
- Standard of living. Finances permitting, the standard of living for any children and the parties during the marriage/civil partnership should be preserved at the levels previously enjoyed.
- Be aware that the previous behaviour of the parties is not usually a consideration at this stage of the process.
- Properly negotiated Pre-Nuptial agreements (if in place), can increasingly influence outcomes.
Will I lose touch with my children?
Your aim should be that both parents still play an active part in the raising of the child/children. Usually parents sort this out amongst themselves, although if there are problems mediation can be a good way to resolve this. Going to Court should always be the last resort where children are involved.
Will we have to go to Court during our divorce?
No, getting a divorce should be an administrative excersise only and there are many options open to you that avoid going to Court.