DIVIDING PROPERTY IN A DIVORCE
DIVIDING PROPERTY IN A DIVORCE

14 July 2020

At Phillips, we know only too well that going through a divorce can be a deeply emotional, upsetting and difficult time.

We are here to give advice that you can trust, particularly when it comes to your children, home and sorting out your finances.

This can be a complicated process, so it is very important to have the help of expert solicitors on your side.

How will our property be divided?

There are no hard and fast rules regarding how your property is divided, so it is crucial to use solicitors like the Family Law team at Phillips who are familiar with how the law is usually interpreted by the Court.

It will save you time and costs if you are able to reach an agreement with your spouse amicably about how your assets and debts should be shared. However, we can assist you in getting this right at the beginning of the process.

We suggest that the first thing you do is make a list of everything you own jointly or individually along with your joint and individual debts. It is very important that both of your financial positions are fully disclosed.

We could assist you in this; you could undertake a voluntary exchange of your financial positions, which is done using a document called a Form E.

If you reach an agreement that you both feel is fair to you and your children, we can send this document to the Court in a Consent Order. In most cases once this has been sent you will not be required to attend Court.

What if we cannot come to an agreement?

Unfortunately, if you are unable to agree with each other, then we may have to start Financial Remedy Court Proceedings. This will lead to the Court taking control of your case and it will set strict deadlines as to when certain things must happen.

In deciding what is fair, the Court will consider what is known as Section 25 Factors.

These come under Section 25 of the Matrimonial Causes Act 1973 and include:

  • Income and earning capacity, property and other financial resources that you and your spouse have or are likely to have in the foreseeable future.
  • The financial needs, obligations and responsibilities that you have now and that you are likely to have in the foreseeable future.
  • The age of you and your spouse and the length of time you have been married.
  • The standard of living you both enjoyed before the breakdown of the marriage.
  • The contributions that you and your spouse have made or are likely to make in the future to the welfare of the family.
  • The conduct of you and your spouse.
  • The value or benefit that you or your spouse would lose because of the divorce.
  • Any physical or mental disability of either spouse.

In practice the Court will first consider the welfare of your children if you have any. It will also consider the fact that a marriage is seen as a partnership and that any benefits accrued from the marriage should be shared.

We are here to help you

Here at Phillips, we will listen to your concerns and discuss your options, letting you know what your rights are, as well as those of your former partner.

Our objective is to help you as quickly and effectively as possible with the best outcome for you and your family.

To find out more about our Divorce or Separation Legal Services with one of our Divorce solicitors, contact Hayley Eachus who heads our Family Law team by calling 01256 854633 or email [email protected]

Alternatively click here to go to our contact page.

During these difficult times our Town Gate office in Basingstoke is temporarily closed to visitors unless by prior appointment when meeting in person is essential. However, thanks to our lawyers being able to work remotely, Phillips remains fully open for business and can discuss your legal matters by telephone and video conference.

 

Disclaimer

This article is current at the date of publication set out above and is for reference purposes only. It does not constitute legal advice and should not be relied on as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.

Have more questions?
Our expert solicitors are here to take the worry off your hands.
Please call us or email and we’ll get back to you as soon as possible.
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