itsfinished.com

Follow us on TikTok

Finance and Assets

The part of your divorce that deals with the financial settlement is called Ancillary Relief. This includes the division of assets, pensions, and maintenance. When dealing with this aspect of your divorce, consider the following points:

  • Full Disclosure: Be honest and transparent when declaring your assets and financial information. Ensure you include all relevant details, such as information about your pension. Full disclosure is crucial to achieving a fair settlement.

  • Children’s Welfare: Contact and residency arrangements for the children should be handled separately from financial provisions. Avoid using your children as leverage in financial negotiations. Their welfare should be a priority and handled independently.

     

  • Aim for Amicable Resolution: It is generally better to reach an agreement amicably with your spouse or through mediation. Going to court can be costly and the outcomes are unpredictable. The court has discretion in determining ancillary relief, which means the result may vary based on individual circumstances.

     

  • Court Considerations: If the case goes to court, the judge will consider several factors, including:
    – The welfare and needs of any children involved.
    – The length of the marriage.
    – The standard of living enjoyed by the family before the separation.
    – Any financial or personal disadvantages suffered by either spouse due to the separation.
finance and assets
  • Legal Advice: Seeking advice from a solicitor or legal advisor can help you navigate the complexities of Ancillary Relief and ensure that your interests are adequately represented.

  • Future Financial Planning: Consider the long-term financial implications of any settlement. This includes how it might affect your future financial stability and retirement plans.

By keeping these points in mind, you can better manage the financial aspects of your divorce and work towards a resolution that is fair and in the best interest of all parties involved.