The incredibly difficult global situation being faced at the moment a result of the coronavirus pandemic has considerably amplified the strain that many married couples have experienced over the past few months. The considerable pressure of lock-down coupled with working from home, often in far from ideal circumstances, and the additional issue of having to undertake home-schooling have all taken a toll and this year's "Divorce Day" (the first working Monday after the Christmas and New Year break) has seen a vast rise in internet searches by people seeking information regarding divorce.
Whilst the Office of National Statistics (ONS) reports that the rate of divorce for heterosexual couples is dropping, divorce relating to older individuals is running at one in four. The latest ONS figures for 2017 found the divorce rate was highest for men aged 45-49 and women aged 40-44. Unlike previous generations, people are no longer prepared to grit their teeth and stay in an unhappy marriage.
Anyone who is thinking of starting divorce proceedings or whose partner has decided to end the marriage would be well advised to avoid making any instant decisions. Most people are in unfamiliar territory and their situation requires expert legal guidance to take you through the range of options open to you to protect your position.
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There will be several aspects of the family finances that will have to be clarified in order to have a proper idea of what would amount to a fair and equitable division of the family assets. Both parties will need to know not only the value of the family home but what is owed on a mortgage, what investments there may be which both parties have an interest, what any pensions are worth, what bank accounts both parties have and the daily living costs. There must be complete clarity on the assets of the marriage. Every couple's situation and responsibilities are different and a family lawyer can help you deal with the legal and practical consequences of divorce.
It remains to be seen whether there will be a sharp increase in divorce when The Divorce, Dissolution and Separation Act 2020, the no-fault divorce, finally arrives in
The experienced lawyers in Giambrone's family team recognise that statistically over half divorcing couples are unsatisfied with their financial settlements. The best solution is to have honest and frank conversations, with the assistance of an expert family lawyer who can facilitate sensible communication during this exceptional situation. It is always better to agree on a financial settlement than take the dispute to court, not only is it costly, it is far more likely that you will get a satisfactory financial agreement in this way than by a contested court hearing. It must be remembered that in any division of assets it is likely that compromises will have to be made. If the marriage has been reasonably long the starting point is to be even-handed with the division of assets, there are a number of different factors that can cause a variation such as inheritances, expected or received.
The court should be the last option if it is absolutely impossible to find an amicable solution.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Ms
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Tel: 020 7183 9482
E-mail: clientservices@giambronelaw.com
URL: www.giambronelaw.com
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