During the divorce process, the re-distribution of wealth can prove to be a huge stumbling block.
When coming to a financial arrangement, the law of England has specified certain criteria that must be considered. The criteria may vary based on the circumstances of individual cases, and the Court plays the role of settling the finances based on this.
Below are the criteria that will be considered:
- Welfare of the children of the marriage
- Each party’s earning capacity, income, resources and property
- Each party’s financial obligations, needs and responsibilities
- The family’s standard of living before the divorce
- The marriage duration and age of each party
- Mental or physical disability, if any
- The conduct and behaviour of each party, although, this considered only in extreme cases
- Any extreme damage or disadvantage suffered by either party due to the divorce
At Farani Taylor, irrespective of the asset value, we firmly believe in promoting the settlement of financial matters through negotiations and voluntary disclosure.
We seek to resolve financial arrangements through mediation or work on a collaborative basis. However, wherever Court proceedings become necessary, we do our best to represent you as diligently and thoughtfully as we can.
Again, in such cases, we try to narrow down the issues in order to reduce conflicts and costs associated with legal proceedings. Our main objective is to provide you with a cost-effective solution.
Our financial team combines a wide range of lawyers from trainees to senior partners and solicitors who have considerable experience in the field. We endeavour to match your case with a solicitor who has the best skills to handle the situation, while keeping the fee structure as affordable as possible.
We also share close relationships with finance professionals, who include actuaries, IFAs and accountants so that we can seek their invaluable expertise and advice on issues related to pension sharing and tax implications.
For any advice on Family Law or issues surrounding Financial Arrangements, please contact the Family Law department on 0207 118 0666.