Very few cases involve only bringing the marriage to an end. Usually there are arrangements to sort out for the children of the family and the finances including property, investments, businesses, pensions and income.
Negotiating a financial settlement in divorce is a skilled and complex task. There is no set formula – questions of spousal and child maintenance are resolved in each case according to the particular facts, figures and circumstances.
A number of guiding considerations are taken into account, including: the length of marriage, the ages of the parties, their assets, incomes and earning capacities. We also consider the standard of living you had during your marriage, what your financial needs are and the contributions you have both made to family life and the acquisition of your wealth. Our team of specialists will explain the relevance of each of these factors to your circumstances. There is no single answer to any particular case but we will explain with as much clarity as we can and as soon as we can the best settlement likely to achievable.
Why are divorce settlements different
Typically a crucial stage in reaching a fair and reasonable settlement is the requirement on both parties to engage in what is called ‘financial disclosure’. All assets owned by each spouse and liabilities in their sole name, as well as those jointly held, need to be documented and the information exchanged with the other party. These assets typically include the family home, pensions, stocks and shares, cars, business assets and so on.
More information on finances
Uniquely at Stowe Family Law, we have an in-house forensic accountancy team focused solely on supporting our clients through this process. They can assist with the preparation of financial disclosure, investigate the accuracy of disclosure provided by the other party – particularly when there are business or offshore interests – and provide valuable assistance with financial settlement-related tax issues.
We will advise you on the range of possible outcomes which may be achievable both in and out of court and on the different ways we can assist you in reaching a financial settlements when you are going through a divorce.
Ideally, parents who are separating should try to reach an agreement on arrangements for their children during and after divorce. We can give you advice on the types of arrangements one might expect to find in your particular situation and help to negotiate an arrangement that’s suitable for your children and suitable for you. Sometimes though, neutral assistance may help, and parents may benefit from mediation or a process called ‘collaborative law’ to help them reach an agreement out of court.
In cases involving children, court action should only be taken as a last resort and the children’s welfare is the primary consideration. However, such important decisions can be difficult to agree on, especially in the midst of an acrimonious divorce and a child arrangements order or in scenarios where similar legal interventions under the Children’s Act 1989 may be required.
At Stowe family Law we can help you as a parent to support your children through this difficult period in your lives. We can also advise you on your legal options if disputes arise.