When a married couple separate each person is entitled to a fair share of the matrimonial assets that have been acquired during the course of the marriage, Often ‘fair’ will mean equal but that is not always the case.
There can be special circumstances where one party is entitled to more than the other.
Problems can arise when one person does not know a great deal about the finances and is uncertain about the extent of the assets.
There are lots of questions that have to be answered.
• Does my husband have a pension?
• Does my wife have savings?
• Am I entitled to part of the business ?
• Shall we sell the house? Am I entitled to maintenance?
And there are many more.
We have acted for many people in this type of situation and one thing our experience tells us is that you don’t get a second chance.
So before a divorce is granted it is essential that there is a full disclosure of all the matrimonial assets so that values can be obtained and the settlement agreed is reasonable.
Sometimes clients want to act quickly and make an agreement before the full extent of the matrimonial property is known.
Family lawyers advise against this and it is often the case that reaching a deal too early can mean that a client sells themselves short.
This will be regretted in the future but once the minute of agreement is signed and /or the divorce is granted it is too late.
This is where our experience as family lawyers is important. We can provide invaluable advice to ensure that you receive a fair share.
This does not only apply to married couples. When cohabiting couple separate there may also be a financial claim based on whether one party has suffered a disadvantage whereas the other has gained.
If you have separated and are worried about your financial position contact us now on 0800 779 7848.