Divorce and Financial Settlement
In ensuring a divorce runs as smoothly as possible we require full disclosure of our client’s financial assets. This allows us to protect your financial interests as effectively as possible in reaching an agreeable settlement. Ordinarily a financial settlement will be able to be met by mutual agreement between separating partners and their solicitors, in this case we will provide mediation services to ensure your interests are looked after.
It is also normal for court procedures to be used to resolve a financial settlement, this may be appropriate where maintenance, pensions or transfer of property is at issue for example. If this is the case, we will provide representation and guidance on resolving any problems.
Monetary assets may also need to be divided. Because every marriage and divorce is different. There are no hard and fast rules regarding division of assets on divorce. When dividing assets the Court and solicitors will take account of various factors when advising their clients. These factors include but are not limited to:
- Income and earning capacity, property and other financial resources that each spouse has or is likely to have in the foreseeable future.
- Financial needs, obligations and responsibilities, which each spouse has or is likely to have in the foreseeable future.
The standard of living enjoyed by the family before the breakdown of the marriage.
- Any physical or mental disability of either spouse.
- The contributions that each spouse has made or is likely to make in the future to the welfare of the family.
- Conduct of each spouse, if that conduct is such that it would be unfair to disregard in the opinion of the Court.
- The value to each spouse of any benefit that one spouse would lose because of the divorce.Where no such agreement can be reached further expert guidance and advice will be sought.
How We Can Help
At PA Duffy and Company we understand that separation can be difficult and matters regarding financial settlement can get complicated. Our experienced divorce solicitors will walk you through the process step by step and help to ensure that your interests are protected.
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