Sorting out the assets is a skilled and complex task and requires full and frank disclosure on the part of both parties, to each other and to the court as part of the initial process.
It is imperative to assess not only the immediate and short term impact a split will have, but also to consider the longer term future needs of both spouses and children. All the income and assets of the parties will need to be taken into account, including less obvious assets such as companies, trusts, pensions, properties, income distribution from all sources, on and off shore assets contents and valuables.
Sometimes there is a reluctance to give disclosure or the assets may be undervalued. Sometimes assets are not disclosed at all! We are used to this, and we have a unique in house forensic accountancy department where tracing and valuing assets is part of their normal work. They also value assets for the purpose of our client’s disclosure and thus save time and additional expense in going to an independent firm of accountants.
No one case is the same. Each case will be dealt with differently, on its individual merits and negotiating a tailor made solution swiftly and cost effectively for you, (often to cover you for the rest of your life) is our aim. We try hard to resolve cases by negotiation and avoid a full blown courtroom hearing. Where there are sufficient assets to sever all ties, a “clean break” solution may be the outcome. If not, then continuing maintenance may be a possibility, whether for life or until re-marriage or such term as may be agreed or ordered by the court.
The law in this area is fast moving and we do keep up to date on all the latest case law. We often give our clients print outs of useful cases that may assist them.
Child maintenance is dealt with separately, but we prefer to include a proper level of maintenance in our negotiations rather than leave this area to the Child Support Agency.