One of the key issues that people have to get to grips with when they go through a divorce is who gets which of the matrimonial assets. These are things of value that a couple acquires during their marriage, such as the home, the pensions, any properties, the car and so on. It can also include assets acquired before the marriage.
If a couple cannot agree on who gets what, then the Court will decide what is fair, just and reasonable. Feelings tend to run high during a divorce and it can be hard to reach agreements on the division of assets, which is where Saracens Solicitors, an experienced divorce solicitor in London, can make all the difference.
The Courts in England and Wales consider the merits of each party’s entitlement and the surrounding circumstances on a case by case basis.
The Courts take into account factors such as:
- The welfare and security of any children;
- Each partner’s financial needs, obligations and responsibilities;
- The length of the marriage;
- The standard of living during the marriage;
- The age and health of each partner;
- Each partner’s contribution to the welfare of the family, including care of the home and family;
- Each partner’s conduct;
- Whether one party will lose any benefits, such as the other’s pension, upon divorce.
Income, current earning capacity, property, and future income and earning capacity are all looked at as well.
As your experienced divorce solicitor in London, Saracens Solicitors can help you reach an amicable settlement by negotiating with your spouse’s solicitor. Any agreements are not legally binding until they are approved and sealed by an order of the Court, but we can help you ensure that your agreement is reasonable, fair and is capable of being endorsed by the Court.
Ultimately seeking advice from a divorce solicitor in London at an early stage can save you time and money. Financial settlements on divorce tend to be quite complex in nature and can become expensive if legal proceedings are required. The best option for spouses is to negotiate through their solicitors and reach an amicable agreement as to how the property and assets in divorce should be divided.