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Financial Settlements on divorce

Henry Ford

“You can’t build a reputation on what you are going to do.”

 

The resolution of financial issues on the breakdown of a relationship can be complex and contentious and can provide a significant amount of stress and worry if the right advice is not sought.

When a couple divorce, financial claims can be made against each other’s capital assets, pension and income. The McAlister Family Law team is one of the most experienced in the country and are able to provide you with specialist knowledge and expertise in the strategy and conduct of Court proceedings. We have particular expertise in the following areas:
 

Process options

The McAlister Family Law team are here here to help you through the difficulties that arise when a relationship breaks down. We offer a range of process options to help arrive at a financial settlement. We will do all that we can to avoid confrontation and keep costs to a minimum.

Financial disclosure

Financial disclosure has to be provided by both parties. 

What may I be entitled to?

The Court has the power to make these financial awards (known as financial remedy orders) using a wide variety of mechanisms including:

  • The transfer of property e.g., the family home or investment property;
  • The payment of cash sums in one or more instalments;
  • The sharing of pensions;
  • Payment of maintenance for a spouse, child or both.

Factors that the court takes into account

To determine the appropriate divorce financial settlement for you, the Court will follow certain specific criteria laid down by statute (the Matrimonial Causes Act 1973 (section 25)) and will take into account;

  • The length of your marriage
  • Your age and state of health
  • Your family's standard of living
  • Income, earning capacity, property and financial resources now and in the foreseeable future, both in this jurisdiction and worldwide
  • Financial needs, obligations and responsibilities
  • Contributions made to the family or which will be made in the future (which includes both financial contributions and contributions in other ways, for example by caring for children)
  • The value of benefits that would be lost on divorce (and includes potential future losses and, potentially, compensation)

The McAlister Family Law Team will advise you on the range of outcomes that a Court might consider appropriate for you and your family and the different ways we can assist you in reaching a financial settlement when you are going through a divorce.

If you already have solicitors we would suggest that you do seek a second option before entering into a financial settlement.

Contact Us

If you require advice on any of these issues and would like a free, informal and no obligation consultation please contact a member of the McAlister Family Law today.

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