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Complex Finances in Chesterfield, Sheffield, Dronfield and Mansfield

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.

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.

Banner Jones have experience in the following complex financial matters:

  • Pensions
  • Business Interests
  • Family Businesses
  • Investments and Tax
  • Inherited Wealth
  • Property Portfolios

Banner Jones provide expert advice on complex divorce finances

With over 150 years of matrimonial experience within our department, we have Solicitors dealing with cases including lottery winners to land owners, business leaders to professional footballers. At Banner Jones we pride ourselves on offering expert marital advice and helping guide and support our clients through their complex divorce issues.

We have a wide range of skills (as well as experience) and can offer flexible solutions to suit your needs. We use various methods including the non-Court based processes such as Collaborative Law and Mediation, as well as the more traditional route of helping you through the Court process.

Types of financial matters

During a divorce, the following need to be taken into account where applicable:

  • Pensions
  • BusinessInterests
  • Family Businesses
  • Investments and Tax
  • Inherited Wealth
  • Property Portfolios

It is essential that all financial issues are thoroughly looked into and properly distributed, keeping hostility between parties and disruption to domestic and working lives to a minimum.

Dividing marital assets

  • If the parties have not achieved a negotiated agreement, the Court will apply its own discretion to the allocation of marital assets. The grounds for divorce rarely affect this decision; instead, the needs of any children and the following factors will be taken into account:
  • The income of each party and any pension entitlements.
  • Each party’s financial needs.
  • The length of marriage – the longer the marriage, the more likely that the Court will be in favour of financial equality.
  • The contribution each party has made to the domestic environment – looking after the home and children can be seen as equally important as earning a salary.
  • Standard of living – preservation for both parties and any children will be a main priority.

 

Contact one of experienced family lawyers today for advice on complex divorce finances

We have offices in Chesterfield, Sheffield, Dronfield, Mansfield and Nottingham.

If you are struggling with complex financial issues, or if you require some expert marital advice, call 0344 558 7413* or email info@bannerjones.co.uk

*calls cost no more than a local 01 number and are included in your mobile minutes.

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Common complex divorce financial questions

Are business assets taken into account in a financial settlements?

Yes, there is no presumption that the individual who has built up the business has a greater claim to the business assets. The other partners contribution to the marriage such as looking after the family home and any children may also be considered to be equally large. This may mean each partner is entitled to around half the value of the business.

In many settlements an agreement is made which allows the business to continue.

For example one partner may retain ownership of the business and pay maintenance out of the income of the business.

The partner who retains ownership of the business could borrow against the business to provide a lump sum for the other partner.

In some cases the company may be split into two separate businesses.

Where possible courts do try and avoid coming to an agreement that results in the break up of a business.

Can I make financial claims against my civil partner if the Civil Partnership is brought to a conclusion?

Civil partners can make claims against each other’s finances in the same way that heterosexual married couples can.  If there are financial issues stemming from your separation and dissolution of the civil partnership you will need to take further detailed advice and we recommend that you contact one of the family team who can give you specific advice in relation to this complex area of law.

Do we have to agree a final financial agreement before a divorce settlement can go through?

No you do not however we advise that an agreement is to be reached on financial issues before the Decree Absolute is finalised. Important entitlements can be lost in some circumstances once the decree absolute has been granted. 

Once we divorce can I settle any financial claims?

Yes you can for example a spouse who may be paying maintenance is able to agree on a appropriate lump sum and/or other assets. If there are not sufficient assets available this may not be possible.

Once you have agreed a clean break agreement and this has been ratified by the court neither of you will be able to go back to the court in the future to ask for maintenance or a transfer of other assets. This gives partners a much greater degree of certainty and allows them to completely disentangle their individual affairs.

It is not possible to agree a clean break in respect of your obligation to provide maintenance for your children.
What if I find out that my spouse has assets which were not disclosed when we agreed our financial settlement?

You are able to go to court and get the financial settlement altered.

When I get a divorce how am I able to protect my child’s financial interests?

You must always ensure from the start of financial arrangements that you provide adequate maintenance for your children. If the child is to remain living with you, make sure that the non-resident parents maintenance is at least as large as the level required by the Child Support Agency formula. There may be grounds for requiring higher payments for example if your spouse has a very high income.

You need to consider the risks to this income. If your former spouse runs into financial difficulties or perhaps remarries and has new children to support, the required maintenance could be reduced. If your former spouse dies maintenance will automatically stop. You should ask your ex to take suitable insurance policies and to make provisions in their will for the benefit of your child. If your spouse does die and leaves a will that fails to provide adequately for your child you should take immediate legal advice. You may be able to challenge the will so that funds are provided for your child’s benefit.

Throughout agreements you should always try and encourage your ex-spouse to be involved with your child regardless of your own personal feelings towards your ex. Your ex is likely to provide financial support if he or she continue to have a good relationship with the child. 

We've divorced amicably and want to sort everything ourselves. What happens if we don't get a consent order for the finances?

If you have managed your own divorce online without legal help, it is worth nothing that you have still not actually finalised your divorce until you have dealt with your financial affairs.  Some couples are able to negotiate and agree financial terms amicably, but a consent order is the only way you can ensure that any agreement reached is legally enforceable. 

The consent order records the terms of the financial agreement you have reached and legally severs the financial ties between you.  Without a consent order from the court, there is the possibility that your ex could make a claim for a share of your assets, property, income or pensions in the future.

 

Divorce

You can't begin to imagine how grateful I am to you.  You have been matter of fact rather than thinking about the earning potential.  You are a lovely women so thank you so so much.  

Mrs L, Hasland

Divorce and Family Law

Happy with the professionalism of the service.

Mr C, Walton

Divorce and Family Law

Thank You so much for your help and support through this difficult time.

Mrs W, Sheffield

Divorce and Family Law

The service was excellent.

Mr J, Hucknall

Divorce

Exceptional service at a very reasonable cost.

Mr G, Forest Town

You were very helpful and sympathetic whilst dealing with my case and your knowledge and advice was excellent. Once initiated, my case was dealt with speed, professionalism. Good contact and communication was maintained throughout.

Mr G, Staveley

Efficient, compassionate, honest and realistic advice that instantly generated deserved trust. On time every time.

Mr J, Sheffield

Banner Jones are excellent, the Family team had some strategy to their advice rather than just giving bog standard legal advice.

Mr T, Whittington Moor

I used Kelly Parks for my divorce, and both her and her secretary, Dawn, were professional, efficient and friendly. I have used other solicitors before, but Banner Jones are by far the best.

Ms S, Sheffield

Absolutely brilliant service. Thank you so much!

Mrs D, Grassmoor

Banner Jones Solicitors provided an excellent service in what was a slow and difficult divorce matter. The advice and persistence was very reassuring and eventually led to a good outcome.

Miss M, Chesterfield

Very efficient, friendly and professional. We would definitely recommend to friends and family. They made the whole experience problem free.

Mrs W, Mansfield

We’re really grateful for the work you did for us. 10 out of 10!

Mr & Mrs S, Bridlington

Very easy to make appointments, very personal service from all people at Banner Jones, my solicitor was very friendly and put me at ease. If I needed a solicitor again, Banner Jones would be the first on my list.

Mr C, Dronfield

Brilliant service, kept well informed all the way through the process. Would definitely recommend.

Miss H, Nottinghamshire

Cannot fault the service, efficient, prompt and cautious. Matters explained very well and clearly. Pleasantly surprised.

Mr & Mrs D, Mansfield

Service provided was excellent. All the staff were very helpful, considerate and professional. I would highly recommend to friends and family.

Mr W, Nottinghamshire

I would recommend Banner Jones Solicitors 100% to anyone. Completely trustworthy, efficient and kind. You can rely on them to do everything they possibly can to fight your corner and protect your interests. Banner Jones' team will also go the extra mile to help too.

Ms C, Chesterfield

I thank you for your kindness and patience in dealing with my case.  It has been much appreciated and we all got there in th end! Wsihing you very best wishes for the future.

 

Ms M, Sheffied

Thank you for everything you have done Kelly.

Ms M, Chesterfield

That was absolutely quick and fantastic. You have been great since I chose you to be my solicitor, massive thanks for all your help during the year .

Miss K, Sheffield

I’d like to take this opportunity to thank you and your team for all your help.

I wish you all well.

Mr D, Chesterfield

It was extremely convenient to be able to discuss my case with Kelly before work in the morning. This avoided us missing each other, did not interfere with my work day and I knew that if I had something to deal with during the day I could discuss it with her the following morning. Our lives have been turned upside down during the pandemic and as such we all have to work more flexibly. It was refreshing and reassuring to see Banner Jones Solicitors embracing this flexibility by responding positively and dynamically to their client’s needs and pressures.

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We take data privacy very seriously, and we want you to understand and feel confident about how we collect, store and handle your personal data. If you’d like to find out more you can read our Privacy Policy.