Financial Settlement in Divorce Solicitors
Fixed Fee Legal Aid Available
We provide divorce financial settlement services to clients in Caernarfon and across the North Wales area.
Understanding Financial Settlements in Divorce
When your marriage or civil partnership sadly ends, it is vital that the financial impact on the parties is assessed to provide a fair division of the assets to provide for the longer-term financial needs of you both and your children. Our divorce lawyers provide financial settlement advice to clients in Caernarfon and across the North Wales area.
- The Importance of Financial Settlements: A divorce or dissolution of a civil partnership does not automatically sever the financial ties between the parties. It is crucial to obtain a financial settlement to ensure that both parties’ financial interests are protected and a fair division of assets is achieved.
- Factors Considered in Financial Settlements: When determining how assets will be divided, the court considers various factors, including the duration of the marriage or civil partnership, the financial needs of the parties and any children involved, the financial resources available, and the contributions made by each party.
- Different Approaches to Financial Settlements: There are several approaches to reaching a financial settlement, including mediation, voluntary disclosure, collaborative law, and arbitration. Each method offers its own advantages and should be considered based on the unique circumstances of the case.
Exploring Options for Financial Settlements
- Mediation: Mediation is a process wherein an independent mediator assists the parties in reaching a financial agreement. It provides a neutral and non-combative environment for discussing financial arrangements. Mediation can be an effective alternative to court proceedings and is encouraged by the courts.
- Voluntary Disclosure: Voluntary disclosure involves both parties completing a financial form, providing full disclosure of their respective financial positions. This allows for a thorough investigation of each other’s financial circumstances and facilitates the negotiation of a fair settlement.
- Collaborative Law: Collaborative law involves each party selecting a lawyer trained in collaborative law. The parties engage in face-to-face meetings to reach a financial settlement. This approach encourages open communication and aims to find a mutually agreeable outcome.
- Arbitration: Arbitration involves jointly instructing an independent arbitrator who can make a legally binding decision on the financial settlement. This process offers privacy and a quicker timetable than court proceedings. However, the decision is not binding on the court.
Expert Legal Advice on your financial settlement
Navigating the financial aspects of a divorce or dissolution can be challenging, but with the support of experienced solicitors, you can achieve a fair and satisfactory settlement. By understanding the various approaches, factors, and funding options available, you can make informed decisions that prioritize your financial security and the well-being of any children involved. Seek expert legal advice to ensure that your financial settlement in divorce is handled with professionalism, empathy, and a strong focus on achieving the best outcome for you.
Division of Assets when Marriage or Civil Partnership Ends
– Divorce
Settlement Process
The Court can make a Financial Order which is fair for all parties depending on the facts each case. The problem is that the Court’s flexible approach creates uncertainty and the outcome is hard to predict and dependant on different factors in particular cases.
Call us today so we can advise you on the possible outcome and advise you in relation to the Settlement.
At Winrow Solicitors, we offer you a £50 Fixed Fee Initial Consultation either by telephone, Zoom, Skype or face to face. It is important that you feel comfortable with us so that we can help you in this difficult time in your life, so please get in contact – either by calling our office on 01286 872 779 or by completing our
contact form.
– Unmarried Couple
Financial Settlements
Unmarried couples separate the question arises as to how assets are divided between the parties. The courts when deciding the division of assets of will advocate a starting point of a 50/50 split. This can change based on the facts of each case. Factors the courts will consider range from mortgage and deposit contributions, whether one party has paid or maintained the property, whether an agreement was entered regarding division of assets or whether there are children under the age of 18.
When deciding how to proceed the court can order the property be sold, make judgement on each party’s share or if there are children, the court can order one party remain at the property with the child until the age of 18. It is important, however, for the pre-action letter to be sent and for mediation to be sought to avoid court proceedings. Call Winrow Solicitors today to know your rights and position regarding your assets.
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Family Law Legal Aid
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Contact our Divorce Financial Settlement Solicitors for Bangor (Gwynedd), Anglesey, Conway & Caernarfon Today
If you require further legal advice or would like to speak to one of our solicitors contact the family law team at Winrow Solicitors today.
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