Tayo Taylor
Partner

The breakdown of a marriage or civil partnership is never easy, and it’s only natural that your emotions may be running high during the divorce or dissolution of civil partnership process. However, if you and your partner have decided to part ways, one of the main things that you’ll need to consider is how to divide any assets you have. If you have children together then this issue is even more of a concern.

The assets that you’ll need to divide include:

• Money, Savings, Pensions, Household contents, Cars, Life Insurance Policies, Property and Investments

Your options

When it comes to dividing up your assets after a divorce or dissolution of a civil partnership, there are various options available to you such as attempting to resolve matters amicably either through a mediator or through Solicitors.

We encourage the amicable resolution of finances following divorce or dissolution of a civil partnership where possible.

Mediation involves you both meeting a trained Mediator who will assist you both with a view to resolving matters amicably. It is usually a good idea for you to obtain independent legal advice regarding any potential negotiations taking place in mediation.

In any event, should you reach an agreement through mediation, you will need to instruct a Solicitor to draft a legally binding Consent Order to set out the agreement reached. The Consent Order will need to be signed by you and your former partner and lodged at court along with a Statement of Information. Your Solicitor can guide you through this process.

Alternatively, you and your former partner can each instruct Solicitors who will then advise you independently and help negotiate a financial settlement following both of you providing financial disclosure. If an agreement is reached, we will draft a legally binding Consent Order which will need to be signed by you and your former partner and lodged at court along with a Statement of Information.

In the event that Mediation or Solicitor negotiation is unsuitable or unsuccessful, you have the option of issuing court proceedings for a financial remedy. The court will set out a timetable for you both to provide financial disclosure amongst other court directions. You will also have the opportunity through the court process to negotiate an amicable agreement. However, where this is not possible or successful, ultimately, the matter will proceed to a final hearing and the court will make a final Order about how your finances are to be distributed.

The court’s decision will be based on a number of factors including the length of your marriage or civil partnership, your respective financial needs, income, earning capacity, age, standard of living, your contributions to the welfare of the family amongst other factors.  Whichever option you choose, we provide a cost effective and transparent service.