Financial Issues

Things can be really difficult during a break up. You need to carefully consider immediate financial concerns and any altered circumstances and plan accordingly.

If you can discuss these matters amicably with your partner things will always be easier but this is a highly emotional time and we understand that an amicable agreement may be difficult to achieve. AST Hampsons Family Law team have a wealth of experience in the negotiation of such matters, we will guide you through this difficult situation and advise you with matters such as;

• The family home – for many families one of the first issues to deal with are  the living arrangements of the parties and any children. Where there are no children involved, this can often be as simple as selling the family home and dividing the proceeds. Where children are involved this can be a totally different matter.
• Other property may also have to be considered and a decision made as to whether such property should be sold; the mechanics of sale of property abroad can be troublesome.
• Businesses can often be difficult to deal with upon separation and divorce, particularly when the husband and wife are both owners of the business. A number of questions have to be considered, such as;
  - Does the business have a value? (and if so, how is it to be valued?),
  - Can it be sold? 
  - Can an interest be realised?
• Savings, Investments and debts must be sorted out on divorce. It may seem that the easiest thing to do would be to divide them all equally but it is not always so simple and it could well be that any or all savings need to be used toward the purchase of a home for the person moving out.
• Pensions are also a consideration on divorce and dealing with them can be complex. One option is to divide the Pension assets fairly (this does not necessarily mean equally); another is to offset Pension assets against other assets.

AST Hampsons Family Law team based Rochdale and Bury offices will advise you about all of the options available to you and help you and your family with what can be some of the trickiest things to deal with during your divorce.  Once your financial situation is stable, you will find it easier to consider and plan the long term needs and requirements for you and your family.

Contact Jennifer Worcester on 0161 763 1000 (Bury), or Shakeela Bi on 01706 653322 (Rochdale), or email us on [email protected]

Alternatively fill in our "Ask us a question" form and one of our specialist team will come back to you as soon as possible.