Financial Divorce Package

The Beck Solicitors "Financial Divorce Package" has been developed to provide a cost-effective solution to resolve finances in divorce where the assets do not exceed £1.5 million (excluding pensions values).

It is important to ensure that financial matters are finalised, otherwise there is a potential for your ex-spouse to make a claim in the future. The effects of marriage and divorce may continue until a final Court Order is made in respect of the divorce settlement.

The financial issues which you should consider are:-

Capital

The starting position for the split of capital in a divorce settlement is an equal division of assets in cases of a long marriage where assets exceed needs. However, the courts are quick to emphasize that each case is different and the duty of the court is to divide the assets so as to provide a fair settlement to both parties. For instance, the court may depart from a 50/50 split if there are children involved. If one parent has the responsibility of caring for the children, their needs will be considered first, and their capital needs may be greater as they will need a bigger property in order to house the children.

Maintenance

On marriage, a couple are financially responsible for maintaining each other. Where ever possible the court will seek to establish a CLEAN BREAK. A clean break is where all financial obligations cease. If this is not possible, the courts will take all income into account, including working tax and child tax credit, child benefit and entitlement to welfare benefit. The court will then look at each party's income needs and their ability to meet those needs. Where there is a shortfall the court will look to see whether the other party can meet that shortfall by way of a maintenance order.

Pensions

The law was changed in December 2000 to allow a PENSION SHARING ORDER. After the matrimonial home, the value of a pension is often the next largest asset in a marriage.

A Pension Sharing Order creates a separate fund and the recipient receives a pension in his or her own right. Pension Sharing Orders can be complex and will require the assistance of a solicitor and an experience IFA (Independent Financial Advisor).

This package caps fees at a realistic level depending on whether the case settles at an early stage or needs to go right to the doors of the court. It tells you exactly how much you will pay for each stage and puts a final cap on your case no matter how complicated it gets. This gives you certaintly and helps you budget for the divorce process. Please telephone us and we will send you more details so that you can decide whether this package is suitable for you.

"DIY divorce?...feeling nervous about trusting a ‘distant’ solicitor?...I was feeling exactly the same, but after contacting Angela, my worries subsided.

The handling of my case from start to finish took 5 months and 6 days including the consent order approval by court. The extremely competitive costs quoted at the initial conversation were adhered to even though the consent order was modified on more than a few occasions, these were paid in staged payments established at the start of the process.

There was never an issue with communication and I was always kept abreast of the status.

Therefore, I would like to express my gratitude to everyone concerned at Ashworth Law in the handling of my case. I was very impressed and reassured with the professionalism and sensitivity in all stages of the process and although divorce is never a happy subject for anyone, I will happily recommend you.

My ex wife and I have a very amicable relationship now, this I feel was helped by the straight forward, professional and above all prompt approach adopted by Ashworth Law...many, many thanks."

Mr Richard L, Milton Keynes - August 2010