Finances After Divorce
Finances after a Divorce
There are likely to be a number of financial matters that need resolving if you are in a relationship which breaks down or you get divorced, from what will happen to the family home, assets and your pensions to what financial support there will be for any children you have.
Whether you are going through a divorce, separation, relationship breakup or the dissolution of a civil partnership, at Rotheras we can help you in settling your financial issues with your former partner and come to an amicable and legally binding agreement.
Finances are usually dealt with separately to divorce proceedings but can be handled at the same time.
Financial matters can usually be resolved through negotiations between the couple, collaborative law or mediation. If your case does go to court, an agreement is often reached before the final hearing and our family team have considerable experience in the court process.
There are various options available for securing your finances, depending on whether you are divorced, separated, or have just entered into a relationship, that we can advise and assist you with. These include:
If you are planning to enter into a marriage or civil partnership you might consider making a pre-nuptial agreement to protect your individual assets, which states decisions you and your partner have jointly made regarding the division of property and support from your spouse in the event of the marriage breaking up, divorce, separation or the dissolution of your civil partnership.
Pre-nuptial agreements are not currently binding under English law but are now being given increased recognition by the courts.
A post-nuptial agreement can be made once you are married, or if you have entered a civil partnership, you can draw up a post-partnership agreement.
Both you and your partner will need to fully disclose your finances and include information in the agreement about income and expected future income; property you own together and separately; pensions; possessions owned jointly or individually, loans, bills and debts and your Will arrangements.
Pensions can be one of the most valuable assets in a marriage, so they are taken into account as part of the financial settlement on divorce and when dividing assets fairly between parties.
If you are divorcing your spouse and one party has considerably more valuable pension rights, we can advise on a pension sharing order, offsetting or earmarking.
A pension sharing order enables a percentage of one party’s pension to be transferred into a pension for the other party. In comparison offsetting is where one party retains their pension and the other party is compensated by receiving a greater share of other assets from the marriage, such as property.
Why use Rotheras for Financial Advice Regarding Divorce?
We will go through your wishes and fully assess your financial situation to give you the best possible advice about the settlement you are likely to receive.
We have Resolution accredited solicitors as well as specialists in collaborative law.
We can offer tailored advice on how to protect your wealth and assets based on your personal circumstances.
We can advise you on whether setting up a trust or family business investment would benefit you and your situation.
Once you have reached a final agreement we can advise you on a Consent Order if you enter into divorce proceedings or a separation agreement if you are not getting a divorce.
We can also advise on any inheritance received during the course of the marriage and whether this is considered matrimonial or non-matrimonial property.
We can advise on your potential future financial position during divorce proceedings, including any inheritance you could receive and benefitting from the expertise of our private client team who can discuss with you how to protect yourself from inheritance claims.
We can offer legal aid if eligible.
Send us a message
“We handle clients with sensitivity and understanding throughout”
Head of Family Law
Chris Powell at Rotheras was recommended to us by a trusted associate within the Transport Industry; without doubt we wouldn’t have had the excellent outcome we did without his and his team’s involvement. The level of professionalism, expert advice and assistance was faultless; we felt reassured and well informed throughout the whole process. It was a pleasure to do business with him and would highly recommend his services!
Julian Brindley - John Brindley Ltd
The team at Rotheras, and Mr Powell in particular, have provided us with an outstanding service. We are extremely grateful for the help and support they gave us in dealing with issues relating to our transport operations and our goods vehicle operators licence. Mr Powell was professional, knowledgable, efficient and effective. He quickly understood our business and the problem we had. He responded with sensible advice and acted quickly on our behalf to resolve the matter. I cannot thank him enough for his help and I would recommend Mr Powell, and the Rotheras team, without hesitation. I am extremely grateful for the help they gave us.
Richard Hitchcock - Hitchcock & King
I would highly recommend James Briggs, solicitor at Rotheras. He has been extremely helpful, patient and thorough whilst helping me with affairs following the death of my husband. Even during lockdown (covid) he maintained communication and kept me informed of what was happening. He successfully achieved the outcome I needed and I would not hesitate to recommend him.
We are in the middle of launching our own packaging agency and contacted Rotheras for some professional legal advice with regards to contracts. After an initial call with Billy, he made it clear what we needed and asked plenty of questions to understand what it was we needed. He was very responsive to our questions, whether it be over the phone or via emails and made the process really simple. We had little experience in this area so it was fantastic to work with Billy, who explained everything concisely. We were also really pleased with the quick turnaround and great value offered. Would thoroughly recommend working with Rotheras.
Tom Burden, Director of Rightbox Ltd
Billy understood our requirement from the get go and really nailed down on what we needed in our commercial agency agreement. Billy kept us informed every step of the way and showed great professionalism. We would recommend his services to any start-up business who is in need of legal advice and guidance with commercial contracts.
Axl Barber, Sales Director of Rightbox Ltd
I was extremely pleased with the service that Kerry provided in order to sell my mothers house. Good, prompt communication and all questions dealt with or answered as requested. Consequently I would recommend yours services to others.
Ann-Marie Bowman is Partner and Chairwoman of Nottingham based law firm Rotheras. Ann-Marie remains highly committed to her fee-earning work in Family law, dealing with all aspects of children matters.
Paul Cobb is Head of the Family department and is a family and matrimonial solicitor, specialising in collaborative law, at Nottingham-based law firm Rotheras Solicitors.
Joanne Millward is a Family Law solicitor with over 20 years’ experience dealing in all areas of Family Law.
Sally Hartland is a Family, Matrimonial and Child Law specialist based at our offices in The Lace Market. Sally specialises and regularly represents both parents and grandparents in care proceedings.
Ruth specialises in all aspects of family law and since 2010 she has been an accredited specialist in private law children matters and in domestic abuse where urgent protective remedies are required.
Emma Adcock is a family and matrimonial specialist based at The lace Market and West Bridgford offices.
Rebecca Lister is a Solicitor within our Family Department and specialises in children and child care proceedings, regularly representing parents during care proceedings.
Chris specialises in children matters and provides support to Ann-Marie Bowman.
Sue Dutton is a Legal Executive in the Family and Childcare department at Rotheras and is based at our Long Eaton office.
Nadine Hardy is a matrimonial & family paralegal at Rotheras, based at our Long Eaton office.
Beccy Rodham is a Paralegal in Rotheras Family Law department and is based at our Lace Market office.
Susan White is a Paralegal in Rotheras Debt Recovery and Family Law department.
How to buy a business: Asset vs Share purchase.
There are many reasons why you would be minded to purchase a business, be this in relation to expanding your business offering, expanding your client base, or taking over a profitable business with existing customers, business assets, cash flow, and a proven track record for growth and success.
Posted on 02/22/2021