The time following a relationship breakdown is a difficult time. The legal system can often be confusing and intimidating especially when you are feeling worried and emotional, with the worry of possibly having to go to court or incur large legal bills.
We can advise and assist you through the process, to make sure that there is full and relevant financial disclosure. Where court proceedings are necessary we will robustly deal with the case to ensure the best possible outcome minimising the divorce financial cost.
What am I entitled to?
Broken down, in divorce & finances cases the claims are often for:
- a property eg. the family home
- a lump sum of money
- assets eg. business shares and
Such financial claims can include any relevant children
Financial disclosure if often needed to arrive at a divorce settlement. This means that all of the relevant assets (including business interests), pension provision, income, liabilities and outgoings are disclosed with supporting documents.
Valuation evidence is sometimes needed. This commonly relates to the family home, any business, investments, pension and so on. Any relevant taxation or risk issues also need to be taken into account.
Once this financial disclosure is completed then the parties, with their family law solicitors, can start to properly and sensibly negotiate a financial divorce settlement.
The divorce settlement factors that a court takes into account are, in summary, the:
- the welfare of any minor children
- income, earning capacity, assets and financial resources
- financial needs, obligations and responsibilities
standard of living
- age of each party and the length of the marriage
- health of each party
- contributions (financial and non-financial)
- loss of certain rights
Examples of Cases
We, at F Arthur Jones, are experienced at the variety of legal cases and examples of some cases include:
- Opponent who had taken a second wife, property and other assets that were being hidden in the Middle East and other issues of non-disclosure.
- Ownership of several family businesses worth £8.5m, a trust set up for the parties’ children, transfer at an undervalue and client’s parents and brother owning a share in the house necessitating being joined as interveners. Issues about the children also arose.
- Successfully negotiated settlement following round table meeting with parties. Complex issues including third party ownership of house, children from previous marriage, school fees and future bonus payments.
- Successful financial settlement involving assets totalling £2m for client who was involved in a scandal covered in the press.
- Representing an MP in obtaining possession and conduct of sale of house due to lack of cooperation by the other party.