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Financial Settlements & Divorce

Getting Divorced; So what is your strategy?

Many of our clients come to us entirely unaware that for long marriages (say 15 years or more); there can be no distinction between a breadwinner and a homemaker when dividing up the couple’s assets. The parties are entitled to equal treatment when the Courts divide the assets from the marriage.

Does this seem fair and acceptable to you? I hear you say no. Are you the spouse who has spent many years working hard, building up your business which has afforded your spouse’s lavish lifestyle and holidays? For many, the concept that your soon to be ex-spouse will be able to claim half of your empire will be a tough reality to accept.  

However there are a number of reasons why assets may not be divided equally after a marriage and more shockingly, in some cases your soon to be ex-spouse could walk out of Court with more than 50% of the matrimonial assets! This is usually the case where your spouse has been without a career throughout the marriage and where there are young children of the marriage who need to be housed post-divorce.

 

To add further salt to the wounds, have you considered the cost of legal fees to deal with this matter if your spouse starts financial proceedings for a determination as to how your assets should be divided and how much your spouse will be entitled to upon divorce?

I hear what you are saying and I sympathise; the above does not bear thinking about does it? But this is where you are entirely wrong as strategic planning in divorce is vital. By planning ahead and reaching an out of Court settlement with your soon to be ex-spouse, you are likely to retain a greater share of the matrimonial “pot”. However you need to take action and formalise your game plan without delay. If you don’t, then you are likely fall victim to the harsh reality of losing a lot more of your empire than you could have otherwise avoided.

Here at Pinder Reaux & Associates we specialise in strategic planning on divorce. Please call us on 0208 252 7373 and one of our family lawyers will gladly discuss your matter and your objectives in further detail with you.

Read more about financial settlements here: http://www.pinderreaux.com/family-law/financial-settlements

Rebecca Antoniou

Associate Solicitor

Pinder Reaux & Associates Ltd