Divorce is a legal process to follow to end a marriage. For advice on the five potential grounds for divorce so you can decide which suits your circumstances a solicitor should be consulted.
At the same time as dealing with the divorce the court can be asked to confirm or resolve arrangements for the division of assets.
This can be done by applying for a Consent order where the arrangements can be agreed. The negotiation of terms and the drawing up of the formal legal documentation requires specialist advice from a solicitor experienced in handling these issues.
Where no agreement is reached a solicitor can obtain missing information, give advice on the court financial remedy process, negotiate or bring the matter to a final hearing so a decision can be made by the Judge.
The aim is a fair financial settlement but this does not necessarily mean a 50/50 split. There are a number of wide ranging factors looked at :-
Legal advice on how these apply to individual circumstances is very important.
- The income, earning capacity, property and other financial resources which each spouse has or is likely to have in the foreseeable future including, in the case of earning capacity, any increase in that capacity which it would be, in the opinion of the Court, reasonable to expect a person to take steps to acquire.
- The financial needs, obligations and responsibilities which each spouse has or is likely to have in the foreseeable future.
- The standard of living enjoyed by the family before the breakdown of the marriage.
- The ages of each spouse and the duration of the marriage.
- Any physical or mental disability of each spouse.
- The contributions which each spouse has made or is likely to make in the foreseeable future to the welfare of the family, including any contribution by looking after the home or caring for the family.
- The conduct of each spouse, if that conduct is such that it would in the opinion of the Court be inequitable to disregard.
- The value to each spouse of any benefit which one spouse because of the divorce will lose the chance of acquiring (most usually pension provision).