Following separation, one of the primary concerns is the resolution of the marital/partnership finances. There is often great concern over how you will each manage to survive financially, how the assets will be divided and concerns over what you may each be entitled to.
Although the Court’s starting point will be a 50:50 division of assets the overall situation of the parties may justify a departure from equality. The welfare of any children of the family will be the Court’s first consideration but in reaching its decision the Court will also have close regard to a range of factors, including:
- The needs of the parties or obligations upon them;
- The age of the parties and the length of the marriage;
- Both financial and non-financial contributions (i.e. bringing up children);
- The resources available to each party now and in the future;
- Standard of living during the marriage; and,
- The financial conduct of the parties.
At a City Law Firm our divorce solicitors are experienced in the resolution of financial matters following a relationship breakdown. We have experience in dealing with clients who have high value assets and large incomes through to those who have more modest resources. Our family solicitors aim to negotiate a settlement employing dispute resolution tactics which is in our client's best interests. However should Court proceedings be issued we give clear legal advice and guidance throughout with the sole aim of achieving a satisfactory outcome.