If your relationship breaks down and you separate, you will need to come to an agreement about where you both live. Usually, this is a key element of divorce settlements. You will need to decide what happens with the family (matrimonial) home. Will one of you continue to live there, or will you sell it and use the proceeds to buy new homes for you both?
As our client, we will advise you on the most appropriate solution for your situation.
At Cotswold Family Law, we take particular care to create the best possible solution for your case. We don’t “tell” you what to do and we understand you have your own preferences. Some people want to stay in the matrimonial home while others want to leave. You might have strong views on your pension or you might not be worried. There is no right answer.
When do I agree my settlement?
You can move through the stages of divorce and apply for your Decree Nisi while you are in the process of agreeing your financial settlement. We do not recommend that you apply for your Decree Absolute until you have completed the arrangement for your final settlement.
What does equality in a divorce settlement mean?
Although the starting point is going to be that your assets are split 50:50, it’s more complicated than that. There are many factors which must be taken into account and those factors will ultimately determine equality and fairness. What we will do is advise you how those factors can affect any settlement that a court will make.
Some of the factors which will be considered in the decision making process are as follows:
- where you are both going to live
- whether either of you should receive maintenance
- whether either of you will pay maintenance for the children
- will you bring your pensions into account
- are there any other assets that you need to deal with, such as an inheritance or a business.
We have written a post on equality in divorce settlements which shows how these principles might apply practice.
At Cotswold Family Law, we have recognised expertise in dealing with the financial aspects of a divorce. It is always important that you seek legal advice with regard to divorce settlements. To discuss your individual circumstances, please contact us to book a consultation.
Once you have received your settlement, you will be able to start planning for future. You will probably want to update your will after your divorce and make different arrangements for probate which we can help with.