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Franklins Solicitors appreciate that when a relationship comes to an end there are a lot of different issues that need to be considered and your financial situation might be more strained than usual.
Our Family Law team take the time to listen to what matters to you and discuss the most cost effective way for you to proceed. Where possible we will try to resolve matters by agreement with your partner but if that is not possible we can represent you in any Court proceedings.
The divorce process in many cases can be fairly straightforward providing the forms are completed correctly and proper notice is given. However, mistakes can incur additional court fees and create unnecessary delay so it is important to check that first, you are legally able to divorce and that your reasons for divorce will be accepted by the Court. Obtaining advice early is key and our Family law team in Northampton and Milton Keynes are here to guide you through that process and explain the different options available.
A Decree Absolute in divorce does not end the financial relationship between you and your partner and without a Court order regarding the division of your finances, claims can be made against one another years later. It is therefore important that a legally binding agreement is prepared and approved by the Court. This can be achieved by you discussing matters directly between you, with the assistance of a mediator or by your solicitor negotiating with your partner or their solicitor on your behalf. Our Family team then prepare a document for you both to sign setting out the terms of that agreement for the Court’s approval.
If an agreement cannot be reached then you can apply to the Court for their intervention, The Court will offer their opinion on what they believe to be a fair settlement and if still no agreement can be reached the Court will decide the division for you. Franklins Solicitors are experienced in representing clients at all stages of the court process and will advise you on the possible outcomes as well as ensure your position is presented to the Court in a way that protects your interests.
Whether you are a sole trader, in partnership or a shareholder in a limited company your interests in that business are subject the court’s discretion in a divorce. At Franklins Solicitors we know this can be an area of huge disagreement so we take time to understand your business and provide the right level of disclosure surrounding both its value and the income it produces to ensure a fair settlement can be achieved with as little disruption as possible to the running of the business. Where you dispute a business valuation that has been provided to you we can also help with scrutinising that valuation.
A mistake often made is to treat the value of pensions the same as property or to assume that pensions contributed prior to a marriage will be excluded in a divorce. The total value of all pensions has to be disclosed in a divorce and this can cause conflict where one partner has solely contributed to that pension or contributed to a pension a long time before marrying. Our Family law team have experience with many differing types of pensions and can discuss with you the different ways in which pensions can be shared and the adjustments available when agreeing their value.
If the debt was incurred for the benefit of the family, then debt is a joint responsibility of both partners, regardless of whether it was incurred by one individual or two. These debts will include mortgages, loans and credit cards as well as any other debt incurred.
It is a common misconception that divorce settlements mean partners split finances 50/50. However, it is the objective of a judge to reach a fair and equal split of finances and so it can often be the case that a 50/50 split is where the judge will start from.
Financial infidelity is not currently one of the 5 accepted reasons as a grounds for divorce. However, financial infidelity can lead to a marriage breakdown and separation.
Money is not always split 50/50 in a financial divorce settlement, however the objective of a financial settlement is to ensure a fair and equal split of finances and so a judge will often use a 50/50 split as the base from which to begin financial settlement proceedings.
During divorce proceedings, if both parties are named on the mortgage, both parties are responsible for ensuring the mortgage is paid, even if only one of you is living in the property.
If a couple cannot agree on what happens to the marital home during divorce proceedings, the court will make a decision. The options include: Immediate sale of the property, deferred sale of the property, transfer of the property with a legal charge and transfer of the property with a lump sum payment.
During divorce proceedings, both parties must declare their full financial status. It will be for the judge to decide what financial split should be applied, but it is unlikely that one partner will be granted 100% of the finances.
Yes, it is illegal to intentionally hide financial assets from the court during divorce proceedings.
Following the breakdown of a marriage during the COVID pandemic, our Family Law team provided our client with advice on how to deal with the financial implications surrounding his divorce.
Mr A instructed Franklins to advise him on how to achieve a divorce from his then wife, and how to tackle the inevitable financial issues that arose as a result. By the time Mr A came to see us, Mr A had been married to Mrs A for just over 5 years, having been in a relationship and lived together for some 20 years. They have 2 adult independent children. Their relationship had been under strain for some time, but it did not survive the COVID pandemic. Mrs A left the former family home as soon as lockdown restrictions were lifted.
If you have any questions about family law, please don’t hesitate to contact our team of experts who are on hand and ready to help you.
