MONEY WORRIES IMPACT ON DIVORCE19th Apr 2012
The current economic situation has put many relationships under increased emotional and financial strain and has proved the final straw for some.
To make matters worse the current climate is having an impact on the ability of some couples to divide their assets on separation. In particular, although the property market has seen some movement in recent times, it is still proving more difficult and time consuming to sell the family home.
The economic downturn has seen a decline in asset values, not only the family home but the family's investments, shares and pensions. In addition, incomes are not secure and bonuses not being paid.
Emma Hamilton Cole, a family solicitor and Partner at Coles Miller LLP explains "Couples, their lawyers and financial advisors will have to be creative and do their best to equalise both benefits and losses in a final divorce settlement taking into account the parties financial circumstances."
Emma says "it is important for anyone considering a separation or divorce to seek detailed expert advice and information about the full range of options available to them before taking any practical steps. This will help you to make an informed decision and achieve a fair settlement. In the current economic climate, it's more important than ever to understand how the financial aspects of a divorce will impact upon your future."
At a time when your budget may be tight, the thought of expensive legal costs may be daunting. Emma comments "at Coles Miller we recognise that legal costs can be a significant issue. We offer an initial fixed fee appointment during which we can provide you with both general and specific advice to your matter"
Coles Miller also offer a fixed fee divorce for straightforward proceedings which include all steps necessary to obtain a Decree Absolute to dissolve your marriage so you know exactly what costs are involved in obtaining a divorce.
In relation to financial issues, Coles Miller offer sympathetic and informed guidance, including assistance through negotiations to achieve the best possible financial settlement for you and if necessary issue court proceedings if an agreement cannot be reached. Coles Miller have an experienced team of family lawyers and our charges for financial and children issues are very competitive.
If both parties wish to resolve matters amicably, then the collaborative process can assist in achieving a workable solution and all of our family team are able to offer this service.
This document is not intended to constitute and should not be used as a substitute for legal advice on any specific matter. No liability for the accuracy of the content of this document, or the consequences of relying on it, is assumed by the author. If you seek further information, please contact Managing Partner Neil Andrews at Coles Miller Solicitors LLP.
