When a couple divorce it is usually necessary for various financial arrangements to be settled between them.
This may include division of property, capital and savings and pensions as well as the consideration of ongoing financial support by way of maintenance for one of the parties and/or the children.
Dutton Gregory Financial Settlement Solicitors are vastly experienced in resolving these issues and can advise on the appropriate form of settlement once all the relevant financial information has been collected.
It is often the case that the two biggest assets are the house in which the parties live and any pension funds built up by either of them. There may be considerations in relation to where the children are going to live which in turn may require an investigation as to whether the house should be sold and a smaller and cheaper one provided or whether there is enough equity for both parties to purchase another property. Sometimes there is not enough money available, the house will have to remain with the parent who has primary care of the children and the other parent may have a residual interest in the house which he or she can only obtain some years later or sometimes will not retain any interest at all.
We can advise you at every stage on the likely and probable outcome and the best way forward.
This can involve some quite complex considerations and often may require expert advice particularly in relation to the pension sharing possibilities.
Many people often do not realise quite what the extent of their entitlement is until they have taken expert advice and we would recommend that any person contemplating separation and/or divorce from their spouse should take early and comprehensive financial advice.
For further information please contact us via our email contact form by clicking here.