A tailored approach to family law from a team that really understands
Stowe Family Law's knowledgeable and dedicated family lawyers help many clients in London Victoria and throughout Greater London with divorce, cohabitation, and civil partnership dissolution.
The London Victoria family law team, led by Managing Partner Phoebe Turner, is dedicated to providing clients the best legal assistance and representation whether you are going through a challenging divorce, trying to share assets, deciding the future of the family home, or finding it challenging to co-parent.
Stowe’s knowledgeable family lawyers provide personalised attention and tailored solutions to each client's unique situation. They understand the sensitivity of family law issues and the emotional toll they can take on individuals and families, and they work hard to make the legal process as easy and stress-free as possible.
Addressing the division of joint accounts on divorce
The London Victoria team frequently advises clients on how to handle the division of joint accounts as part of the larger financial settlement process during divorce.
For example, they recently assisted a client whose 17-year marriage had ended. They had managed their bills and outgoings through a joint account during that time. They each made monthly deposits from their earnings into the account, with any remaining funds remaining in their personal accounts.
The account contained a substantial sum of money at the time of separation. Both spouses agreed that it should be classified as a marital asset and placed in the pot to be divided equally between them.
During these discussions, they agreed that the funds in the joint account would be used to cover any final debts or payments owed by the couple, and any remaining funds would be split.
The couple quickly reached an agreement on their financial settlement with the help of the team, avoiding any conflict or disputes. This was then formalised as a legally binding consent order.
Various approaches to handling divorce settlements
The London Victoria team assists many families in London in resolving their divorces amicably.
They accomplish this through a variety of means, including direct negotiations between couples, solicitor-mediated negotiations, collaborative law, arbitration, mediation - collectively known as Alternative Dispute Resolution (ADR) - and in a very small number of cases, family court.
In fact, only 80% of Stowe's cases go to family court, and of those that do, only a small percentage make it all the way to a final hearing.
Mediation, a highly effective form of ADR, is one of the most widely used divorce settlement strategies in Greater London. This tool is used by many of our clients who are unable to reach an agreement.
Avoiding court proceedings and focusing on constructive and collaborative problem-solving puts the clients' and their families' best interests at the forefront of any decision-making.
Many of our family lawyers at Stowe have received training to serve as mediators, arbitrators, and collaborative lawyers. The London team also has access to a network of other experts who can assist you in reaching an out-of-court divorce settlement.
How do you work out the division of assets in divorce?
The division of assets is one of the most difficult aspects of reaching a financial settlement after divorce.
Depending on the circumstances, dividing a couple's property and other assets can be a simple or difficult process.
The first step in asset division is to identify all of the property and assets that will be divided. This includes both the couple's assets and assets owned individually. Property, investments, pensions, vehicles, and personal property such as jewellery or art can all be considered assets. Everything worth more than £500 must be disclosed in the asset disclosure.
After all assets have been identified and valued, the next step is to decide how they will be divided. Things can get complicated here. In most cases, the couple agrees on how to divide their assets between themselves, or through solicitor-led negotiation or mediation.
If the couple cannot reach an agreement on their own, the court will step in. In most cases, the court will seek to divide assets fairly and equitably between both parties. This does not necessarily imply that assets will be divided equally, but rather in a way that is deemed fair and just.
The court will consider a number of factors when making these decisions, including the length of the marriage, each spouse's income and earning potential, and the contributions each spouse made to the marriage.
It is critical to work with an experienced lawyer who can guide you through the process and protect your rights and interests.
Whether you can reach an agreement on your own or the court must intervene, it is critical to approach asset division with a clear understanding of your assets and their value, as well as a willingness to work towards a fair outcome.
Get in touch with Stowe Family Law London Victoria today
Stowe Family Law is the UK's largest team of specialised family lawyers and the only national law firm dedicated exclusively to family law.
The London office offers family law services to individuals and families in the Greater London area, including divorce, financial settlements, and child arrangements.
Family solicitors at the firm, including Partner Sarah Peters, are knowledgeable and compassionate. They are all dedicated and talented lawyers who help clients understand the often-complex legal language and provide support at every step of the way.
Stowe Family Law's London office's family lawyers can help you whatever your family concerns are.
Contact our team of London family lawyers today on 0203 0967077.