Divorce Finance is the key to securing your future
High Net Worth Divorce, Financial Settlements, Forensic Accounting, Complex Negotiation
For initial legal advice on money matters in Divorce call MKM Family Law Solicitors on 02891270000 or contact us online and we'll call you back.
MKM Family Law is one of Northern Irelands leading high value Divorce practices. With over 60 years experience our expert divorce solicitors can help you with comprehensive service covering divorce, complex financial settlement, forensic accounting, actuarial valuation, business valuation, the discovery of hidden assets, and high-pressure negotiations.
Our expert Divorce solicitors deliver specialist Divorce Finance legal advice, confidentially and in a professional manner.
Drawing on our substantial expertise we can provide advice in relation to:
• Financial arrangements during separation
• The process of gathering information for financial disclosure
• Assistance with the valuation of pensions, business interests, trusts and property
• The presentation of financial disclosure
• Possible terms of settlement including division of assets and in relation to income
At MKM, we understand that when it comes to divorce you want to resolve financial matters quickly as possible so that you can start rebuilding your life. We’ll help you reach an agreement that provides for your future. Our Divorce solicitors are expert negotiators and will find a solution that works for you.
But we must also flag a reality check. When a marriage or civil partnership breaks down, once the initial niceties are done, securing a real financial agreement can prove more challenging. Arguments can get heated and can go back and forth for months with little or no progress. Disagreements regarding finances can often cause an already stressful situation to get worse.
Yet, financial settlements are key to providing your future stability, especially when children are involved.
That’s why it's important to take the time needed to build a powerful case and to negotiate your best interests.
What you get from us is practical solutions and pragmatic advice tailored to your specific needs, proactively making realistic suggestions that work for you in real life.
Divorce is a life-changing process. Your finances will be affected. You need to listen to the expert, experienced advice.
The initial areas we look at with you include:-
Your Immediate financial concerns
If you've been together for some time, the chances are that you rely on each other financially to some degree. So, planning for the immediate impact of the separation makes sense. From our long experience helping couples through the divorce process, we give you bespoke advice from the earliest stage of divorce proceedings.
Maintenance after divorce
With such a major change, you’ll want to plan how to structure your finances going forward. How much will your ex be contributing? This information is vital for your future planning and security, especially where children are involved.
Property & Divorce
Do you own your property? Are you joint tenants or tenants in common? How will the profits be split if you sell the house? Divorce related property matters vary from case to case. We will advise you on your unique situation and help you understand your practical legal position.
Pensions & Divorce
Pensions will be divided according to your unique circumstances and can depend on how long you have been married and your respective ages.
Full Financial disclosure will be required for all parties.
In sorting out the division of the family’s finances, a lot of information is required, so that a full picture of the family’s financial situation can be made and a fair arrangement can be reached, whether by agreement or by the Court.
When determining your financial claims the court’s first consideration will be the welfare of any child of the family, under the age of eighteen. The court will then consider the following:
• The income, earning capacity, property and other assets which each of you have or are likely to have in the foreseeable future.
• The financial needs, obligations and responsibilities of each of you both now and in the future;
• The standard of living enjoyed during the marriage;
• The age of each of you and the duration of the marriage;
• Any physical or mental disability either of you may have;
• The contributions each of you has made to the welfare of the family, both financial and in relation to the home and the care of the children;
• The conduct of each of you, however, case law has established this is only relevant where serious financial misconduct has taken place or violence that effects a parties earning capacity.
Contrary to popular belief, the answer to the question “how much will I get?” is often not “half of everything”, particularly where the marriage is short or children are involved. This is because it will often be the needs of the parties’ that will determine the financial settlement reached.
If you are facing divorce you need the experience and expertise of a knowledgeable Divorce Solicitor who can quickly review your financial disclosure and personal circumstances to give you realistic advice as to what can be achieved.
MKM Divorce Solicitors provide that expertise. Call us on 02891270000 to schedule an initial meeting.
WHAT CLIENTS SAY?
KIND WORDS FROM MY LOVELY CLIENTS
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Frequently Asked Questions
The aim is to divide the assets as fairly as possible. This may not mean a 50/50 split, but it is essential that parties are left in equal standing and both breadwinner and homemaker are treated equally. As stated above, children will be considered first and foremost and must be provided with accommodation with the primary carer.
After ensuring that both parties reasonable needs have been met financially, where there is a surplus, the court will go on to divide the remaining assets. To do this the court will consider matrimonial assets (assets bought during the marriage from the joint earnings of both parties) and non-matrimonial property (assets obtained outside of the marriage). While most assets will be matrimonial property, any gifts or inheritance from one side of the family will generally be seen as non-matrimonial in the first instance
The court will also seek to achieve a financial separation from both parties, known commonly as a clean break. This means that while one partner may be contributing financially for child maintenance, there will be no more financial links between the couple.
Yes. Business assets form part of the assets to be discussed during negotiations and need to be fully disclosed beforehand, but division of these assets will be based on your individual situation. While it may be you who set up the business individually, your partners contribution to the marriage could be seen as equally important, and in this case, each partner could claim entitlement to half of the value of the business. However, each situation is different, so it’s vital we as your solicitors are fully aware of all business assets involved in order to assess how they will be divided.
If your arrangement resulted in a court order and your spouse is still refusing to pay, you can apply to the court to enforce the order. One route of enforcement is to apply for an Attachment of Earnings Order, so if your spouse refuses to pay, your maintenance is deducted from their salary at source before they receive it. If the financial arrangement was not made official through a court order, you will have to go to the court and apply for an order.
Any Divorce Finance Questions? Just ask me on the form below. I will get back to you asap- Sinead