HELPING YOU UNDERSTAND FINANCIAL PROVISION AT THE END OF A MARRIAGE
One of the most important issues that arise after the breakdown of a marriage is sorting out the assets and finances of both parties. Making financial arrangements like this is known as a financial provision order (formally called ancillary relief).
Kathy Webb & Co of East Cleveland has been helping couples organise financial provision since 2000.
East Cleveland's only Legal Aid firm
Sorting out financial matters post-separation can be a complicated process. Both parties are worried that they will have to pay too much out, or that they won’t get enough back. Agreeing a financial settlement without the involvement of the court saves time and money for both parties.
Our solicitors at Kathy Webb & Co in East Cleveland are specialists in financial provision proceedings and will advise you on any financial agreements to ensure the deal you do is right for you, and more importantly, for your children if you have any.
We help you work out what you have and what you need, and we do our best to reach agreement with your spouse wherever possible. However, if an agreement cannot be reached, our vastly experienced solicitors will go to court to protect your interests and ensure you are properly represented.
What will the courts look at?
If you end up having to make an application to court for financial provision, it is important to know what the court will (and won't) look at when making a decision. These are:
Your assets, both now and potentially in the future
Your needs, both now and potentially in the future
Your standard of living before the marriage broke down
Your age and how long you were married for
Whether either husband or wife has physical or mental disabilities
What contribution each of you made to the marriage, both in terms of money and also things like looking after the house and children
The court will only look at the conduct of one party or another if it would be unreasonable not to do so. It doesn't penalise someone just because they have behaved badly - so if your partner was unfaithful that doesn't mean they will be entitled to any less money
As divorce has become much more commonplace in today’s society, many men and women are marrying and divorcing more than once. A premarital agreement, sometimes called an antenuptial agreement or a prenuptial agreement, is a contract made between two people before they get married. They concern the division of money and property in the event of a divorce and are practical at a time when we are all becoming more financially astute about our assets.
Premarital agreements encourage openness on financial issues between parties before marriage. Consenting, well advised parties could decide their own outcomes on divorce and reduce both costs and acrimony.
Premarital agreements are a common sense step you should take to protect your personal and business assets should you eventually divorce and are entered into before the hurt and stress of the relationship breakdown distorts parties ability to be reasonable.
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