Money & Property Issues for Married Couples
It is rare for any couple to consider distribution of money and/or property prior to separation. It is common for emotions to be running high during and after the separation period making it difficult to resolve such matters without legal advice and support.
Our Family Law Solicitors can support you through this period. We provide a tailored service and free initial telephone consultation for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.
Money & Property Disputes
Where parties are married the Court has a wide discretion to redistribute income and assets. This will depend upon a number of factors such as: –
- Income, earning capacity, property and other financial resources which each of the parties to the marriage have and is likely to have in the foreseeable future.
- The financial needs, obligations and responsibilities which each of the parties to the marriage have, or is likely to have in foreseeable future.
- The standard of living enjoyed by the family before the breakdown of the marriage.
- The age of each party to the marriage and the duration of the marriage.
- Any physical or mental disability of either of the parties to the marriage.
- The contributions made by each of the parties to the welfare of the family including any contribution made by looking after the home or caring for the family.
- The value to either of the parties to the marriage of any benefit that the party will lose the chance of acquiring if the divorce is obtained.
Orders that can be made through the Courts can include periodical payments or maintenance payments, lump sum payments, transfer of property, pension sharing and attachments; either party to the marriage can make an application for any such orders after the Decree Nisi has been pronounced.
The Courts can make Orders concerning assets not only in this country but also assets held overseas be it family trusts, bank accounts or properties. The Court has extremely wide powers and there are many complex issues which arise when dealing with assets held off shore including tax and trust implications as well as enforcement. We have had significant experience in assisting clients when faced with such problems. These may necessitate seeking advice from foreign lawyers and also accountants.
The legal framework and procedure for financial matters urges the parties to try to reach agreement between themselves, this can be directly, through solicitors or mediation and consent orders can be drafted and filed with the Court to ensure that any agreement becomes legally binding.
Money & Property Solicitors
Our specialist Divorce Solicitors provide a tailored service and free initial telephone consultation for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.