FOSTERS LEGAL LLP "National Business Leader 2016 & Parliamentary Review"

Practice Areas 2: Financial Issues and Settlement  & Employment Law Matters

 
Reaching financial settlement with your spouse (Divorce and Civil Partnerships)
 
It has always been a cause of concern for those contemplating divorce or dissolving civil partnership as to how to reach a financial settlement. Our skilled Paralegal lawyers and teamed up with third party solicitors and third party barristers (outsourcing) have many years of great experience in negotiating satisfactory financial settlements for our clients. We are highly known to deal with clients regarding complex financial affairs including businesses and family settlements. Our main task is to ensure that the right approach to negotiations is carried and applying the law correctly. If children are involved, their welfare will always come first and will be a very important consideration in the financial settlement.
 
 
The first step to negotiations and fair settlement is to ensure there is a clear and accurate picture of the assets of each party which we always obtained. The process is known as disclosure. This means that both party are required by law to make full and frank disclosure of their financial position before negotiations can commence. This is called voluntary exchange with your wife or husband using your instructing firms. Once we are in receipt of all the details of income and expenditure of both you and your spouse or partner, we will then be able to be in a position to start and assist you in negotiations applying the court guidelines of s.25 factors and the principles of equality and fairness and non discrimination in order to help you reach a fair settlement.
 
We may also be able to assist you in drafting Consent Orders after mediation agreement.
 
 
The Court Procedure:
 
In divorce proceedings, judicial separation or the dissolution of civil partnership, the court has the power to make a variety of Orders. This includes:
 
1. The Transfer of property: This is where ownership of an asset is transferred from one partner to the other or from joint names to the sole name of your partner.
 
2. The payment of lump sum
 
3. Periodical payments i.e. Maintenance
 
4. Pensions: This can be either pension sharing Order or pension attachment order.  
 
 
The law sets out the criteria known as section 25 factors which must be taken into account when formulating financial settlements. The courts must take into account your income and earning capacity, your savings, your housing needs, your pensions, the duration of your marriage or civil partnership, your overall contributions, any disability and any other circumstances that is relevant to your case. In fact, there is no formula for dividing the matrimonial assets. The primary consideration of the court when dividing the family assets is the welfare of any dependent child or children.
 
 
The time scale from commencement to final hearing is referent from court to court as they work on a slightly different time-tables, but generally it can take up to 18 months from the date of issue of the first application form A to the final hearing.
 
Please contact us if you need further information regarding this aspect of the divorce proceedings.
 

 
Employment Law Matters:
 

It will not cost you anything to speak with us in order to access if you have a case. We are offering face to face and telephone consultation meetings provided by Employment law adviser Amanda Tandi.

If you are on low income and looking for cost effective and efficient service, contact us first at.

How to Find Us:

Please go to our contact us page and use either the form, email or phone numbers.


 

 

 

 

 

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