Dividing money & property

Separation legal advice

When you separate, divorce or dissolve a civil partnership, all the property and money you have once shared needs to be divided fairly and according to the law. Our money and property team, within the family law department, gives clear, positive advice to assist you in reaching a just and cost effective solution. We deal with your case with empathy and support in a difficult, often emotional time and see you through the dividing of assets including pensions, the negotiation of maintenance, and any child support needed.

Whatever your financial circumstances, a member of our family law team will be able to assist. We also have solicitors who specialise in handling complicated and high net worth cases.

Dividing assets

Recent precedent has seen the liquid assets of relationships divided fairly and equally between parties, unless there is good reason for alternative arrangements. Other things that will be taken into account in the dividing of assets include, for example, current and potential future financial obligations, or earnings, your ages and the duration of your marriage or civil partnership and your contribution to the wellbeing of the family.

At the start of our work with you on the dividing of assets, both parties will be required to disclose all assets, and we’ll arrange the valuation of those assets and will obtain details of all liabilities (e.g. mortgages). We’ll then be able to begin negotiating the fair division of your assets.

Agreeing maintenance

In marital or civil partnership proceedings there may be circumstances which entitle one party to claim an income top-up from the other. We will advise you on the merit of whether a claim can be made or opposed and will see you through the process if it goes ahead.

Generally speaking, there are three types of maintenance:

• Ongoing maintenance, which is paid to a party until either party dies, the receiving party remarries or enters a civil partnership, or a court order changes the arrangements.
• Term maintenance, which is paid to a party for a limited period, or until either party dies, the receiving party remarries or a court order changes arrangements. In certain circumstances the term period can be extended.
• Capitalised maintenance, this is where a party would be entitled to maintenance and there are sufficient realisable assets to provide the party with a capital fund to invest and from which to draw an income for the future.

The maintenance can either be substantive eg. £100 per week, or nominal eg. £1 per annum - the latter being used to keep a partners claims alive. In all cases it must be considered whether or not all claims should be extinguished - this would result in an arrangement known as a "clean break".

Making a clean break

Sometimes it may be appropriate to provide one party with more of the available capital, in place of maintenance, to achieve a clean break. If a clean break is achieved then neither party will be entitled to raise any future claims against the others income.

For more information call 0870 1500 100, or use the links above to drop us a line.