Divorce
This is the first set and stage of proceedings which shall need to be instigated by one party or both by making an application to the family court which can also be dealt with online, please see MyHMCTS: How to apply online for a divorce or dissolution – GOV.UK. You can make an application for this yourself, but often clients wish to have the peace of mind of knowing their solicitor or legal executive is doing this on their behalf, using their expertise. You have to ensure the divorce proceedings have proceeded to the stage of a conditional order prior to being able to submit the financial application and this is whether by consent or if it is contested matter.
The Finances
It is always better to reach an amicable settlement, but sadly this is not always the case. When a disagreement arises it is more important than ever to ensure you have sound legal advice, This will provide you with the knowledge required for a realistic settlement. Your lawyer will be able to discuss the likely legal costs involved and any disbursements that may be incurred, such as a pension actuarial report. Please see A Guide to the Treatment of Pensions on Divorce (Second Edition) Divorce.
One of the first steps in divorce financial proceedings is the disclosure of assets and liabilities. Both parties are required to provide a full and honest account of their financial situation. This includes income, property, debts, and any other financial interests. Transparency is crucial to ensure a fair division of assets.
Valuation of Assets in a Contentious Divorce
Determining the value of assets can be a contentious issue. This includes property, investments, businesses, and personal property. It’s often necessary to involve financial experts or appraisers to provide an accurate valuation. Disagreements over asset values can lead to prolonged negotiations and increased tension.
Division of Property in a Contentious Divorce
The division of property is a central aspect of contentious divorce proceedings. In Wales and England, the courts aim for a fair distribution of assets, which may not always mean an equal split. Factors such as the length of the marriage, the needs of each party, and contributions to the family are considered. This can include homes, cars, savings, and retirement accounts.
Spousal Support and Maintenance
Spousal support, also known as maintenance, may be awarded to one party based on various factors such as the length of the marriage, the financial needs of each party, and their ability to earn income. Determining the amount and duration of spousal support can be complex in a contentious divorce and often leads to disputes.
Legal Representation and Mediation in Contested proceedings
Having skilled legal representation is crucial in contentious divorce proceedings. It is also compulsory in most situations that parties attend mediation before they submit an application to court asking for assistance.
Contact MD Law Cardiff for a non-obligatory conversation to establish your initial steps whatever they may be. Our family friendly team are here to help call 02920 625 835.