finance divisionReaching the financial settlement is often the most complicated part of a divorce, especially after a long marriage, or indeed where there are significant assets to be divided.

It is an incontrovertible fact that when you divide up jointly-owned assets, both parties recover  significantly less than they had before.

This will often end up with distressing financial implications and it is important the process is well thought out and indeed the costs implications fully explored at an early stage.

Clients frequently expect a judge to wield a magic wand and keep them in the same financial position they were in whilst still married, but sadly it cannot be done. Homes frequently need to be sold and pension funds divided.

The Priority is to secure legal advice from expert accredited solicitors with both the experience and skills to secure your best possible outcome.

We are expert accredited solicitor specialists in Cardiff and Penarth in settling High Value divorce settlements, as well as marriages with complex financial assets. We fully understand how important it is to safeguard your financial position where sadly, a marriage or long relationship breaks down.

The unmarried couple

There is a widespread misunderstanding that the law makes provision for justice after long relationships, particularly if there are children, where the parties do not actually marry. People often assume there is a concept of “Common-Law marriage”. Unfortunately it does not exist.

No matter how long an unmarried couple live together their possessions remain their own upon separation as during cohabitation. Only in by applying for what are known as equitable remedies in relation to property, often the house the parties have lived in, can a party try to remedy any clear unfairness in leaving the relationship with what they came into it.

If you are in this situation it is crucial to contact us for both expert advice and confirmation of what documentation you will need to progress an appropriate financial claim being made on you behalf.

Professional support from other experts

We can advise on obtaining complimentary specialist advice, both from independent financial experts and indeed from specialist Pension advisers where there are significant pension assets. With the new significant Pension changes coming into operation in April 2015, many people will require urgent advice on Pension options to ensure they obtain their optimum entitlement on their divorce.

Our main concern is to conduct robust negotiation but invite an appropriate settlement to be created, to avoid ongoing costs. Where there are children, their welfare will of course be a critical consideration for both parents and the family court.

For a fair settlement, there must be a clear picture of the assets. This process is called financial disclosure. Both Partners must make a full and frank disclosure of their financial position before negotiation via solicitors. Once the assets are known, and values agreed, a settlement can be determined, subject to your personal instructions and indeed formal approval by the court.

Interim financial arrangements

It may be possible to apply for an interim maintenance order for household bills and/or towards legal costs once divorce proceedings have been issued.

This can be especially important if you do not wished to be forced into an unfavourable settlent because you are in short term financial difficulties or indeed might find it difficult to properly fund legal proceedings or indeed your normal living costs.

It might also be possible to apply to the court for an order to freeze assets or bank accounts.

It is certainly best to seek specialist advice  as soon as is practicable.

 Specialist Expert Family Law Advice from Top Cardiff solicitors

We believe in engaging in early neutral evaluation, with a view to resolving financial issues, without the need for formal determination by a court. There will however always, realistically, be cases where it is impossible to avoid court proceedings, in order to achieve an appropriate financial settlement.

Our expertise in combining excellent negotiation and mediation skills with tough litigation expertise means we can handle the most intricate financial affairs.

In addition to vast experience in high value family law matters, we are accredited law society expert solicitors in family law. We also know that securing specialist family legal advice is in the long term, a far more cost effective than paying for less skilled advice which will prolong the length of the dispute. 

Divorce or breakdown of civil partnership will most probably be one of the most emotionally and financially traumatic things you will ever experience. Money spent on getting mad, or money spent on getting even, will usually be money wasted. Practical legal advice at an early stage will never do any harm, and in most instances will have very positive and cost effective, results.

   Email us with your initial enquiry This email address is being protected from spambots. You need JavaScript enabled to view it. or to arrange your initial without obligation consultation.