Dealing with Finances

Isabella Blog

Dealing with Finances

 Top tips when beginning to deal with financial matters following a separation, to avoid any delays when it comes to negotiating a financial settlement…

  1. Find out your borrowing capacity – speak with a financial advisor to discuss your borrowing capacity and options available to you. This is vital information when it comes to discussing how parties will meet their reasonable needs following separation.
  1. Browse properties which would suit your reasonable needs – in order to have constructive discussions, it is crucial that parties have considered their reasonable long term housing needs following separation.
  1. If you have pension provision, request your Cash Equivalent Transfer Value – this document can take a substantial amount of time to be received and it is pivotal to the process of full and frank financial disclosure.

There are many more steps when it comes to dealing with financial matters ancillary to divorce proceedings, however it is our experience that the 3 above steps are the most time consuming and can cause unwanted delays if not considered within the early stages.

Please note the above is in respect of married couples only, the law in respect of cohabiting couples is different.

The above is also guidance and not legal advice, please do contact our office to seek legal advice in respect of your specific circumstances on 01274 861096 or 01423 637272, to get booked in for your free half an hour consultation.