LEADING
FAMILY LAW
SOLICITORS
Financial issues arising from family breakdown
A divorce does NOT address financial matters. A separate court order is needed regarding finances and any dispute over children.
The financial aspects of separation are often stressful and give rise to more concern than the separation itself.
There is no specific calculation that is used to decide division of financial assets and each case is looked at individually and the Court will take various factors into considerations such as:
- Financial needs and obligations
- Income and earning capacity
- Length of marriage
- Age of the parties
- Financial and other contributions to the marriage
- Disability
The above list is not exhaustive but the first consideration will always be the welfare of any children of the family. Having fully identified and understood your financial situation Parkview Solicitors can discuss with you the best options available to you.
How long will the financial settlement take to reach?
The timing of a financial settlement is very difficult to assess as it will depend upon many factors including whether matters are dealt with by the parties voluntarily or pursuant to a court timetable, how complex the assets may be (i.e. whether they need to be valued by an independent expert), whether each party is fully co-operating with the process and how backlogged the court resources are at the time. In theory it could take 6 weeks or it might take 12 months.
Do you have a question about the financial issues following the breakdown of a relationship? Call our offices now to arrange a free consultation with an Immigration Solicitor.
We’re based in Bolton (Greater Manchester), but help clients in the North West and throughout the UK.
Bolton (Head Office)
Hamill House
112-116 Chorley New Road
Bolton
BL1 4DH
Burnley Office
Northbridge House
Elm Street Business Park
Elm Street
Burnley, BB10 1PD
Call us today on
01204 565 234
Call us today on
01282 575 234
How can we help?
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