07th December 2017
Cartwright King has a team of family law solicitors who can advise you in relation to financial settlement following the breakdown of a relationship. We understand how important these matters are, which is why we are available to assist wherever you are based and will guide you through each step with support.
What is financial remedy?
Financial remedy is the process applied by the court for distributing assets following the breakdown of a marriage or civil partnership.
The starting position applied by the court in the division of assets is one of equality. However, the court must also take into account a number of other circumstances before finalising settlement. The criterion for the court to consider established in the Matrimonial Causes Act 1973 and generally defines those considerations as:
- The needs of any children of the marriage
- The financial resources and needs of the parties
- Standard of living during the marriage
- Any contributions made by either party during the marriage
- The effect of any disability or limited earning capacity
- The conduct of the parties
- The existence of any pre or post nuptial agreements
What should I do first?
The distribution of marital assets is a complex area. We recommend that you contact us as soon as possible to secure expert advice.
Full and frank disclosure is a necessary pre-requisite to all cases and we will be unable to guide you as to an appropriate settlement without this information. The court use a document named Form E to complete the disclosure exercise. We can help you complete this.
What about my house?
The family home can be the most valuable asset in a marriage. In addition to the financial incentive couples often have emotional attachments to a property and so deciding the future of the marital house on divorce can be a challenge.
If there are dependent children then their needs are a priority. Often this means that the parent with care of the children will remain in the marital home with the children or will be accommodated with sufficient funds to meet their housing needs.
Property issues upon divorce are intricate matters. As each case will be judged on its own merits, expert guidance is a necessity.
What if my partner stops paying the mortgage and other expenses?
You can make an application for interim maintenance if you cannot afford domestic expenses during the financial remedy process and consider your partner to have sufficient means to assist.
What do I do about pensions?
Pensions will be taken into account by the court. Pensions must be valued and information on value shared between parties. If one party has a higher pension fund it may be appropriate to share that pension with the other party or offset the difference against other assets.
Do I need to issue divorce proceedings?
Yes. You will be unable to invite the court to consider any financial remedy application until divorce proceedings are issued.
What if I have agreed a settlement with my partner?
In some cases parties reach an amicable agreement as to how assets will be divided. In these cases we recommend that the agreement is ratified by the court in a consent order. In doing so the agreement not only becomes enforceable but future financial claims can be dismissed. This will protect your future assets.
How much will it cost?
It is difficult to predict the cost of going to court as each case is different. We do offer a range of packages and fixed fees to help.
A discreet application to the court is possible in some cases for one party to pay the costs of the other, sometimes simply as a short term arrangement. This is usually where one party has a much higher income or asset base. The payment of costs overall would then be determined at the end of the matter.
In some cases Legal Aid may be available subject to your financial circumstances and your ability to prove that you’re a victim of domestic violence.
Please call us for a quote and we can explain the process to you.
How to make contact
Our family law solicitors are located all across the UK and are happy to meet a time and location that suits you.
You can call us on 0808 168 5550 or email us on firstname.lastname@example.org and we will call you back.
You can always call us on 0808 168 5550 or email us on email@example.com
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