Getting divorced? Taking legal advice can help ensure you get a fair financial settlement.

No Fault Divorce has made things easier

It is 2024 and the ability to apply for a divorce is easier than ever causing many people to apply on the Government’s online portal for a divorce. This has only been made simpler since 2022 when, the need for one party to place fault on the other (or to be separated for a minimum of two years) was removed.

But financial settlements remain a complex issue

Despite this simplicity however, should you take legal advice when having a divorce? Hayley Coyne, Chartered Legal Executive in our Crewkerne Family Department considers this further.

“The ability for people to apply for a divorce themselves through the ‘portal’ system is a great resource available however, this should not take away from the importance of obtaining legal advice about your rights and responsibilities upon divorce”. Hayley continues to say that “dealing with finances upon divorce remains a complex and challenging issue that all couples going through the divorce process need to obtain legal advice on”.

Taking legal advice empowers you to make informed decisions

The divorce process itself does not extinguish the financial ties that married couples have against one another. It is very important therefore that individuals seek advice from a family law professional when you are considering your options in divorce or, are in the process of a divorce application.

Hayley says that “when reaching a financial settlement, this needs to be fair and reasonable for both parties taking into account many different factors including, parties’ income capacities, their financial needs and responsibilities now and in the foreseeable future plus, other considerations such as, their ages and, the length of the marriage. To establish this, there needs to be information as to both parties’ finances. This is even the case if, individuals have reached an agreement between them and, just wish for the court to reflect their agreement in a binding order.”

It is therefore very important that not only you have advice as to what your options are, you know what the financial assets of your spouse are so that you know what is in the ‘matrimonial pot’. It should also be noted that pensions are a valuable financial asset which needs to be considered. It is not just the value of the property, what is in your savings and, what your incomes are.

HK Law can help you

If you have any questions about how to move forward with reaching a financial settlement or, wish to discuss any aspect of the divorce process, contact our family law experts who, will be happy to discuss further with you in a Discovery Call. Book your Discovery call on our website – https://hklaw.uk/discovery-call/ or contact your local office. HK Law has offices in Blandford, Bournemouth, Crewkerne, Dorchester, Parkstone, Poole, Swanage, and Wareham.

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