Will a Divorce give me a Clean Break?
5 July 2023
Brenda Spain, Head of Family Law
Will a Divorce give me a Clean Break?
A divorce can provide a legal end to your marriage but the divorce itself does not provide an automatic ‘clean break’ insofar as financial arrangements are concerned.
Will a Divorce give me a Clean Break? Here are some points to consider:
- During the divorce, the scope of the family assets will need to be determined. This can be done in various ways: negotiations through solicitors, the mediation process or in some circumstances, the Courts. Those assets include property, investments, savings, pensions, and your respective income positions. Parties are encouraged to reach a fair division of the assets that have been accumulated during the relationship.
- How these will be dealt with will be very specific to your case, depending on how long you have been married, your ages, any dependent children etc.
- Specific consideration is given to business assets, pensions, inheritance, trusts and assets accumulated post-separation etc.
- In reaching an agreement, it is important to bear in mind the requirement of openness and transparency and sharing of information.
When the matter is concluded, it is equally important to ensure you have a Court-approved Order that is final and binding to prevent any ‘come back’ in the future.
While clean breaks are encouraged (i.e. all financial ties are severed, save for children), this is not always possible and again, will be determined on a case-by-case basis. Financial obligations may continue beyond the divorce and can be affected by future changes in circumstances such as income fluctuations.
“When the matter is concluded, it is equally important to ensure you have a Court-approved Order that is final and binding to prevent any ‘come back’ in the future.”
It is important that you and your assets are protected and you should always seek advice from a Family solicitor, particularly in cases of complexity including businesses, pensions etc. The advice will be unique to you and based on your specific circumstances not only now but in years to come to protect you, your children and to protect you in your retirement years.
Here at Cullimore Dutton, we have solicitors with many years of experience who have dealt with all aspects of Financial proceedings with a range of issues and complexities. This experience is invaluable to you.
If you would like a free initial consultation with a member of our Family Law team to discuss the making of a divorce application, or the financial consequences of doing so, simply click on the “Speak to Our Experts” button on this page, call us on 01244 729 073 or email info@cullimoredutton.co.uk
Please note: This is not legal advice; it is intended to provide information of general interest about current legal issues.
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