This can become complex when property, pensions, savings, investments, and dependent children are involved. When beginning divorce proceedings, it’s vital that you fully understand what you may be entitled to and that you seek the proper legal advice on any marital assets from the outset.
In England and Wales, getting a divorce doesn’t end any financial relationship that you may have with your spouse. As a result, it is important to reach a financial settlement as close to the date of your Decree Nisi as possible. Jarmans Solicitors always recommend that you attempt to reach an amicable solution with your spouse rather than entering into lengthy Court proceedings.
You can reach a financial settlement at any time during your divorce proceedings, including after you have legally ended your marriage. However, we advise that you should try to have a settlement in place by the time the court awards your Decree Nisi.
You should definitely ensure that you have a financial settlement in place before getting remarried or beginning any other financial relationships.
If you begin the process of reaching a settlement at the same time that you begin your divorce proceedings it should take around the same length of time. On average it can take about six to eight months to finalise a divorce however, holding up settlement paperwork can delay the whole process.
Like every relationship, every divorce is different and the judge will have the final decision on how your assets are divided.
For many the fairest way to split any assets is 50/50, but the court will always strive to work out the fairest and most sensible division.
It’s worth remembering that the grounds for divorce shouldn’t have any bearing on any division of assets or financial settlement. While there may be a chance that either you or your husband/wife may be angry or hurt during the divorce process, conduct in and out of marriage are not factors to be considered in relation to the proper division of assets.
Our family law department are available to advise on divorce and financial cases and our initial consultation is on a fixed fee basis. If you would like to meet us to discuss your options, please contact us.
Chris took the time to explain several items and offered some very good advice. I will definitely use them again.
Excellent service here. Needed a one off legal document and they were able to accommodate us the next day. We were given good advice. Highly recommend.