Sorting out your finances after the breakdown of a relationship can be difficult. There are lots of things to consider and tensions can run high when trying to come to an agreement on who gets what. A family solicitor will help you navigate your way through the financial legalities of separation and divorce. Here’s some of the most common questions we’re asked:
Can I stay in the house with the children?
How much will it cost?
How long will it take?
What will I get?
There’s no hard and fast rule of who’ll get what; financial orders vary depending on the individual aspects of each case and both parties are expected to formally disclose full details of their financial circumstances. Although the court does consider the needs of any children involved, particularly in respect to housing, it does look at all of the assets and how each party’s needs can be met fairly.
Assets include income, savings, investments, capital resources, properties and pensions together with any other valuables, although it doesn’t usually consider personal property unless it’s of a significantly high value.
Will the court look at his/her behaviour and why the relationship broke down when making a financial order?
No. The court is obliged to look at the situation from an entirely neutral perspective. The only exception to this is if one of the parties has engaged in serious misconduct, such as refusing to provide full disclosure of financial circumstances, violent behaviour, or if one party’s financial conduct has depleted the matrimonial assets.