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Your Divorce: How can I take away the uncertainty surrounding my finances?

One of the main concerns in your divorce, after the welfare of any children involved, is how the divorce is going to impact their finances.

While there are many stories in the press of costly and drawn-out divorce battles between celebrity couples or high net worth individuals, it does not have to be this way for your divorce. Although involving the courts will be unavoidable in some circumstances, many couples do eventually manage to come to an agreement either between themselves or with a little external help.

Here at Austin Kemp, we regularly see clients who are gravely worried about what their financial future may hold after their divorce. In this article, we will look at ways to help you to take the uncertainty out of your finances and take control of your financial future.

 

Your divorce: Take control from an early stage

The emotional upheaval that often accompanies a divorce, together with the stress and the strain that go hand in hand with financial uncertainties, can result in an extremely volatile concoction.

Seeking expert advice from a solicitor can help you to understand what your financial future may look like, taking away some of the anxiety and enabling you to take control of the situation.

 

Your divorce: Communication is key

Even for a couple who aren’t separating, talking about finances can result in difficult discussions. When a relationship breaks down, communication that doesn’t end in some form of argument or heated discussion can seem almost impossible. Often, your spouse is the last person you want to talk to.

It is understandable, then, that many divorcing couples eventually avoid talking directly to each other about how their financial future will look.

If it is possible for an agreement to be reached about the divorce settlement between the couple themselves, this can often help to speed up the divorce process, potentially resulting in cost-savings. Any good solicitor should encourage you to try to reach an agreement in this way, if at all possible. A legally binding document can then be drafted, stating what you have agreed.

your divorce

 

Your Divorce: Don’t be afraid to ask for help…

If reaching an agreement in this way is not possible, then it may be necessary to seek some external help.

Mediation, for example, where an independent third party aids discussions with the aim of helping the divorcing couple to come to an agreement, can often be an effective way to reach an agreement on issues such as the financial settlement and child arrangements.

Another option may be collaborative law, where meetings between you, your spouse and your respective solicitors take place with the aim of reaching an agreement.

 

Your Divorce: Court is often seen as a last resort

Reaching an agreement outside of a courtroom can help to reduce both time and costs.

However, sometimes, if a satisfactory agreement cannot be reached using other methods, court may be unavoidable. Having an experienced solicitor working with you and advising you from the start, can help to take away some of the stress and strain, if asking a court to decide your financial settlement turns out to be necessary.

 

Do you need help with your divorce options?

Our expert divorce and family law solicitors can help you with a range of legal issues, including:

 

Contact our expert divorce solicitors for advice on your divorce options

For more information on your divorce options, call our divorce solicitors on 0845 862 5001 or mail@austinkemp.co.uk.

Our expert divorce and family law solicitors offer a nationwide service. We have client meeting office facilities available, in order to have face-to-face client meetings / conferences as and when required in:

Leeds Office: St Andrew House, The Headrow, Leeds, LS1 5JW

Wakefield Office: Market Walk, Wakefield, WF1 1QR

Halifax Office: Old Lane, Halifax, HX3 5WP

Huddersfield Office: Northumberland Street Huddersfield, HD1 1RL

Coventry Office: Warwick Road, Coventry, CV1 2DY

Canary Wharf Office: 25 Canada Square, Canary Wharf, London, E14 5LB

Please contact us for more details.

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23rd April 2018

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