Divorce and finances

A straight-forward divorce will take at least six months (26 weeks) to complete due to (1) the minimum period of 20 weeks between the issue of the Application and when the applicant(s) may apply for a Conditional Order and (2) the further minimum period of 6 weeks between the Conditional Order and the applicant(s) being entitled to apply for the Final Order.

The intention behind the minimum periods is to allow the parties a period of reflection and to endeavour to agree practical arrangements for the future. Disagreements about finances or other aspects of the settlement can prolong the process considerably.

Our team of divorce solicitors have the necessary experience and in-depth knowledge of family law and procedures to move divorce proceedings along efficiently, whilst ensuring your best interests are being protected. We will provide practical, uncomplicated advice on the divorce itself as well as matters surrounding any children involved, and the matrimonial finances.

If you would like to discuss this matter with one of our specialist solicitors, please contact us on 020 8290 7341 or 020 8038 6711 to make an appointment.

On divorce or dissolution of a civil partnership, most couples have financial assets that need to be divided between them. Agreeing on how to divide the assets is often difficult and there is not always an obvious solution to the issue. There are statutory guidelines specifying the factors that must be taken into account when deciding on a division of assets. All of the circumstances of the case need to be taken into account and each case will turn on its own facts.

All of the members of our family team have substantial experience in negotiating financial settlements and we aim to ensure that negotiations are finalised as quickly and efficiently as possible. Discussions are not always straightforward however and we have the knowledge and depth of experience to advise on all types of financial cases whether the assets involved are large or small. We have experience in acting in complex High Court cases for high net worth individuals involving assets held both in the UK and overseas, on making applications in this country on overseas decrees and obtaining freezing injunctions when necessary. Whether your case is straightforward or complex we are here to help you find a solution.

If a couple is unable to agree on a division or negotiate a settlement, either between themselves or with the assistance of a mediator or solicitors, the Court will be asked to determine the financial provision to be made for the parties.

We can discuss with you the suitability of your case for mediation, arbitration, collaborative law, a roundtable meeting, or the court process. We will also advise you on what each method of resolution involves, so that we can help you to decide the best course of action.

The first task is to ascertain what assets are in the pot to be divided. Up-to date valuations are needed of all assets including pensions and the more information that you can provide at the outset, the quicker your case will progress. It is necessary for this information to be disclosed to your spouse. This can either be on a voluntary basis where you and your spouse have agreed to provide the information, or it can be as part of a timetable set down by the Court following an application being made to deal with the finances. Once financial disclosure has taken place, our family team will be able to advise you on what a suitable financial settlement could look like and assist you in negotiations.

If you or your spouse have a pension it is very likely to form part of the assets to be divided.  The value of the pension will need to be obtained from the pension provider and it may be necessary to obtain a pension report from an expert to advise on how pensions should be divided. Our family law team have a great deal of experience in the division of assets including private and public sector pensions, armed forces pensions and pensions held overseas.

Should one party attempt to hide or dispose of assets, it is necessary to act quickly to secure access to them. This may entail an application to Court for a financial injunction to freeze certain assets. Specialist legal advice must be sought in these circumstances.

If you would like to discuss this matter with one of our specialist solicitors, please contact us on 020 8290 0333 to make an appointment.

Spousal maintenance may need to be considered, where one of the parties cannot financially support themselves following the breakdown of a marriage, but this will depend on the circumstance of the case. The payment period will depend on individual circumstances. Every circumstance is different, and our team is able to provide you with advice that is tailored to your needs.

In some circumstances, a spouse will be able to apply for spousal maintenance as soon as divorce proceedings have been initiated by either party. This is called a “maintenance pending suit” and is available to parties that are unable to cover their living costs while the divorce and financial proceedings are ongoing.

The family law team at Judge & Priestley understand that maintenance negotiations and any subsequent proceedings can be much more complicated than originally anticipated. Our team is equipped to provide you with advice to give you the steps to be taken and help you achieve stability for both you and your children.

At Judge & Priestley, we understand that most people want to get on with their lives as soon as possible. With our years of experience, we can assure that you will receive professional advice that balances both you and your children’s interests.

If you need to speak to a solicitor regarding maintenance, then please contact us to make an appointment.

In some circumstances, it is necessary for one of the parties to review a maintenance order, and this needs to be considered very carefully. In order to apply to the Court to vary spousal maintenance that has been ordered by the court, there must have been a significant change of circumstances effecting your finances.

Pre-nuptial agreements are regularly referred to in the media and, in most cases, in relation to celebrities and those in the public eye. However, pre-nuptial and post-nuptial agreements are not just the reserve of the rich and famous. As more couples now marry later or marry more than once in their lives, pre-nuptial agreements are gaining in popularity.

A pre-nuptial agreement is a formal agreement entered into by a couple before they get married specifying what they want to happen to their assets during the marriage and in the event of a separation. A post-nuptial agreement allows for the same agreement to be set out but is entered into after the couple have married.

The couples can identify the assets that they currently have and specify what they want to happen to those assets. They may specify that they want all assets owned at the date of the marriage to be ring fenced in the event of a subsequent marital breakdown. They may also specify what they want to happen to any subsequently acquired property including any joint assets and what should happen if one of the parties receives an inheritance. The agreement can also deal with non-financial issues such as how children are to be raised for example, although this will amount to no more than an expression of wishes.

Although pre-nuptial and post-nuptial agreements are not legally binding in England and Wales, there is growing judicial support for them to be so. They are however a factor that the Court can, and increasingly will, take into account in any subsequent divorce proceedings when deciding on a division of assets. For the agreement to be recognised by the Court it is essential that the correct formalities are followed.

The agreement must be entered into voluntarily and well in advance of the wedding day so that the correct procedures can be followed. Each party needs to be represented by a separate solicitor and must have an opportunity to seek legal advice before entering into the agreement. Each party must provide the other with full financial details so that an informed decision can be made about the terms of the agreement. The parties should also regularly review the terms of the agreement to make sure that it remains relevant to their current circumstances.

If you are considering entering into a pre-nuptial or post-nuptial agreement it is essential that you seek advice from an experienced family law solicitor to discuss your options at the earliest opportunity.