At Banner Jones we can offer guidance on suitable Divorce Financial Settlements.
Among the first questions we are asked are: "how will our finances be divided?" and "how will we come to a divorce settlement agreement?" At Banner Jones our experienced divorce solicitors based in Chesterfield, Dronfield, Mansfield and Sheffield will work with you to achieve the best divorce settlement available.
Divorce Financial Settlement negotiations take into account several factors including:
- The financial and other needs of any children
- The current earnings of both parties
- The potential future earning capacity of both parties
- Length of the marriage
- Standard of living enjoyed during the marriage and income needs
- Contributions that both parties have made to the marriage, both financial and otherwise – including looking after the house or caring for children
- Assets of each party, including accrued pension values
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 if we can’t come to a divorce settlement agreement?
We would always advise couples to try and come to a financial agreement so to avoid having to go through the Court process but we know sometimes it is just not possible to agree. In these cases an application will be made to the Court and a timetable will be fixed. It is essentially a three stage process:
1. First Directions Appointment
During the first stage both parties have to disclose their financial circumstances to the Judge. Our experts will deal with all the paperwork and ensure that everything is in order prior to the hearing. At this stage the Judge is checking that we have all the information we need and will give directions to progress the case to stage 2, for example, whether any valuations of property or businesses are required.
2. Financial Dispute Resolution Hearing
Here the Judge will give guidance to the parties on areas of dispute and will encourage the parties to find a compromise solution which is fair to both of them. Most cases do settle at this stage.
3. The Trial
If the case cannot settle, then a trial date will be fixed and the Judge will hear evidence from both parties and the divorce solicitors before deciding what should happen and making an order which the Judge considers to be fair.
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.