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    February 9, 2020
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PROMOTION Take control of your divorce If you are getting divorced it is vital to take legal advice early so that you understand what to expect and put yourself in the best position ai Whicker, a solicitor in Stephens Scown LLP's award winning family law team, explains what doing anything which inadvertently se. Ifyou mo ou, ensure you take them with you unless you trust that they will be preserved. Consider if any early court applications are needed, for example to seek financial support or to seek an injunction if there is a real risk that valuable assets creates an unnecessary tax liability, for example. A financial adviser can also you need to consider. discuss your future needs, which Is often the driver for the financial TAKING CONTROL outcome on divorce. The person who starts divorce proceedings by filing the petition has more control over the timing of PROTECT YOUR POSITION may be spent or hidden. Register your home rights if the You should take advice to check if the important stages of the process, including The decree nisi, which gives the court the power to make financial orders. This may be important if you want the court to formalise a financial agreement between you. The decree absolute, which ends the marriage. This is an important for many reasons, including tax. If your spouse has a much larger pension than you, the timing is critical, as you will need to have a pension sharing order in place any steps are needed to protect your family home is owned legally in financial security. including your spouse's name, or change the way you co own property. Before moving out of the family home, you need to understand how this will affect your financial contributions to the home's running costs and the prospect of a cost-effective negotiated settlement being achieved. Closing or regulating joint accounts or mortgages and, if necessary, ensuring that additional direct debits cannot be set up or restricting overdrafts for which you may be wholy liable. Flexible mortgage drawdown facilities can be abused. Ifthere is any risk of that you need to let the lender know joint signatures must be required. If you own a business with your spouse, ensure that you don't take any drastic measures, such as resigning or transferring shares without taking advice. This could before the decree absolute is applied for. If your spouse has already instructed a solicitor to prepare a petition on their behalf, early input from your solicitor should enable you to negotiate Kai Whicker is a solicitor in the family team at Stephens Scown. The team were named Family Team of the Year - South at the Family Lae Awards 2019. The team also has top tier ranking in independent legal guides Legal 500 and Chambers, + imings, UNDERSTAND YOUR ASSETS AND FUTURE NEEDS If you or your spouse have complex assets it is important to involve an have tax consequences as well as accountant or financial adviser to affect your negotiating position. Retain control of valuable possessions if there is a risk they may be disposed of by your understand the true value and tax Contact Kai: 01392 210700 implications of the assets before solicitorsestephens-scown.co.uk negotiations begin. This avoids www.stephens-scown.co.uk PROMOTION Take control of your divorce If you are getting divorced it is vital to take legal advice early so that you understand what to expect and put yourself in the best position ai Whicker, a solicitor in Stephens Scown LLP's award winning family law team, explains what doing anything which inadvertently se. Ifyou mo ou, ensure you take them with you unless you trust that they will be preserved. Consider if any early court applications are needed, for example to seek financial support or to seek an injunction if there is a real risk that valuable assets creates an unnecessary tax liability, for example. A financial adviser can also you need to consider. discuss your future needs, which Is often the driver for the financial TAKING CONTROL outcome on divorce. The person who starts divorce proceedings by filing the petition has more control over the timing of PROTECT YOUR POSITION may be spent or hidden. Register your home rights if the You should take advice to check if the important stages of the process, including The decree nisi, which gives the court the power to make financial orders. This may be important if you want the court to formalise a financial agreement between you. The decree absolute, which ends the marriage. This is an important for many reasons, including tax. If your spouse has a much larger pension than you, the timing is critical, as you will need to have a pension sharing order in place any steps are needed to protect your family home is owned legally in financial security. including your spouse's name, or change the way you co own property. Before moving out of the family home, you need to understand how this will affect your financial contributions to the home's running costs and the prospect of a cost-effective negotiated settlement being achieved. Closing or regulating joint accounts or mortgages and, if necessary, ensuring that additional direct debits cannot be set up or restricting overdrafts for which you may be wholy liable. Flexible mortgage drawdown facilities can be abused. Ifthere is any risk of that you need to let the lender know joint signatures must be required. If you own a business with your spouse, ensure that you don't take any drastic measures, such as resigning or transferring shares without taking advice. This could before the decree absolute is applied for. If your spouse has already instructed a solicitor to prepare a petition on their behalf, early input from your solicitor should enable you to negotiate Kai Whicker is a solicitor in the family team at Stephens Scown. The team were named Family Team of the Year - South at the Family Lae Awards 2019. The team also has top tier ranking in independent legal guides Legal 500 and Chambers, + imings, UNDERSTAND YOUR ASSETS AND FUTURE NEEDS If you or your spouse have complex assets it is important to involve an have tax consequences as well as accountant or financial adviser to affect your negotiating position. Retain control of valuable possessions if there is a risk they may be disposed of by your understand the true value and tax Contact Kai: 01392 210700 implications of the assets before solicitorsestephens-scown.co.uk negotiations begin. This avoids www.stephens-scown.co.uk