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Divorce and Financial Implications

When a couple decides to divorce one of the biggest concerns is often the financial implications and the division of assets. You may wonder what will happen to the family home or whether you will have to make or be entitled to maintenance payments.

We can offer help and advice to resolve financial issues and put agreements and arrangements in place.

Financial arrangements can be a major point of discussion during a divorce, and it is important to keep discussions over finances separate from those regarding the arrangements of your children.

The sorting out of the financial matters is called ‘ancillary relief proceedings’. The law relating to this area is quite flexible, and allows the Courts to look at each individual case and decide accordingly on the financial settlement.

Do I Need To Appoint A Solicitor To Get Divorced?

No, however it may be better to instruct a solicitor to act on your behalf. Most matters can be settled without the need to go to Court and it will generally be better for the parties involved, and certainly less expensive.

Even if you have come to an informal agreement with your spouse, we strongly recommend you ask a solicitor to check the agreement. You could be putting yourself in a vulnerable position, and remember that both your circumstances could change in the future.

How Much Will A Solicitor Cost?

Costs can vary depending on your individual circumstances and requirements. We offer an initial advice appointment with one of our family lawyers for a fixed fee of just £100+VAT. See our family fees and charges page for more information.

If It Goes To Court, What Factors Do They Take Into Account?

If the financial matters do reach Court, they take into account the following factors:

  • the welfare of any children of the family who are under 18 years old
  • the income, earning capacity, property and resources of each person
  • the financial needs, obligations and responsibilities of each person
  • the standard of living enjoyed by the family before the breakdown of the marriage
  • the age of each person, and the duration of the marriage
  • any physical or mental disability
  • the contribution made by each person to the welfare of the family, including looking after the home and bringing up children
  • the conduct of each person, but only if it was so bad it would be unfair to ignore it
  • any serious disadvantage to either person that would be caused by ending the marriage
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