Finances & Divorce – Discussed by Hurlows Family Law Practice
Potentially one of the most difficult and daunting part of a separation and divorce is making financial arrangements and decisions. As emotions are understandably likely to be running high, one of the last things you will be wanting to think about is separating assets and finances as well as making arrangements for children. These are however, highly important aspects that you will need to consider when facing separation and divorce. Hurlows Family Law Practice has represented and supported our clients on divorce as well as helping them to reach fair financial decisions when going through separation and divorce. In this article, we will discuss finances & divorce as well as what you will need to consider when making financial arrangements during a divorce. If you require more information on finances & divorce or if you are looking for further advice on divorce then enquire online using a contact form on our website or telephone directly now on: 029 2039 6087
Beginning to Consider Your Finances
Although there are no guidelines or rules about making financial decisions on your own or with the advice of a legal professional but it is highly recommended to seek the advice and guidance of a divorce solicitor. This is because you will want to reach a fair solution and ensure that you are receiving an outcome regarding your finances that is mutually beneficial to both parties. As discussing finances and agreeing a final settlement can be a source of frustration, this could also cause the prolonging of a lengthy dispute which can massively increase costs. Many solicitors (including the team of solicitors at Hurlows Family Law Practice) strive to reduce conflict and avoid a lengthy court battle. These types of situations can drive further division in an already broken-down relationship and incur a variety of legal fees. Sometimes it may be possible to reach an amicable solution that does not require having to take your dispute to court but it is still recommended to seek the advice of a family law solicitor to review legal documents and ensure that you know where you stand legally.
Reaching Agreements About Your Finances
In an ideal scenario, you will be able to reach an amicable agreement regarding your finances during a separation and divorce however this understandably may not be the cause. It’s generally easier to reach agreements on finances if you have both agreed to divorce, that you don’t have children or you have adult children who don’t financially depend on you. It may also be easier to reach an agreement if one of the divorcees doesn’t financially depend on the other and if you can agree how property and pensions should be split. Should one or both parties own a business or if one depends on the other financially then agreeing about finances can become more difficult. This is also true if you have children that financially depend on you and if one of you did not work in order to raise your children. If you are finding it difficult to reach a solution then there are several ways in which you can try and reach a solution such as mediation. Mediation is where a neutral professional (usually a family law solicitor trained in mediation in this situation) can try and help you to reach a resolution. This involves discussing issues and differences and trying to reach a solution. Another solution is having to attend court and try and reach a reasonable agreement. It’s highly recommended to hire a qualified family law solicitor if you have to attend court.
Further Advice on Finances & Divorce
If you do require further advice on making financial decisions during a divorce or separation then ensure that you enquire with Hurlows Family Law Practice. We have many years of experience supporting our clients through the divorce process and have represented them should they have to attend court. We are also members of Resolution which aims to use mediation to reduce conflict. Our solicitors are committed to reducing conflict in a time that is already very emotive for our clients. If you are looking to find out more information on finances & divorce or if you require divorce financial advice then enquire with Hurlows Family Law Practice using a contact form on our website or telephone now on: 029 2039 6087
Hurlows Family Law Practice is a valued and respected Firm of Solicitors which has been serving the Cardiff and South Wales area since 2001.