PROMOTION Separating the finances with dignity Choosing to separate or divorce doesn't have to mean a fight over finances says Divorce Solicitor Jonathan Madge from The Family Law Company ome people facing divorce think it almost inevitable that using lawyers means ) they will take over, removing control from the beleaguered couple and fanning the flames of an expensive and bad-tempered dispute - especially where finances are concerned. However, it is perfectly possible to negotiate a fair financial settlement with help from a family lawyer who is committed to supporting a client In reaching as amicable a solution as possible. APPREHENSION OVER FINANCES Whenever I first meet a new client, the overriding emotion I sense is apprehension - most often about what their financial future holds. It is no the separated couple's hands. A mortgage adviser will independently assess what coincidence that the correct process of negotiating a financial settlement is geared around gradually building an level of borrowing is available to each party. Sometimes a couple use the same mortgage adviser, which helps provide reassurance of even-handed advice. Jonathan Madge Divorce Solcitor understanding of the actual value of available resources, and how these can Where negotiations conclude with a settlement, lawyers will set out the agreement in a Consent Order which is sent to the court. This almost always be divided fairly to meet needs and goals. An experienced family lawyer should be able to give a reasonable steer early on about the general shape of a potential settlement geared around how the client's housing, income and other needs will be met. This does depend on a couple being open about their financial situation, giving comprehensive information that includes property, BEST CASE SCENARIO In the best cases the divorce process can be truly collaborative. Taking the appropriate steps will help a separating couple to feel comfortable about the true level of assets and income and how they can be split to ensure both their needs are met. Financial uncertainty can be alleviated as each starts to picture what the future looks like, where they might live, how income will be made up to meet outgoings and how they will provide for their retirement. includes what's called a "Clean Break so that the separating couple are clear when all their assets have been divided and there is no further claim to be made for either side. In a nutshell the process, we believe, should not be geared towards lawyers taking over and creating a significant dispute but rather encouraging the assets, income and entitlements as well as liabilities and outgoings. separating couple to work closely with their lawyers to gain an understanding of all financial resources and how they can be divided fairly to provide a suitable financial future foe both. CALLING IN THE EXPERTS Using this information, other professionals can help to accurately complete the financial picture. For example, ifa couple disagree on a property valuation a Chartered Surveyor will provide an independent market value. A pensions expert will prepare an Independent report setting out how the pensions can be distributed to provide a particular level of income for each party. whilst a tax expert will suggest how assets can be divided to best manage tax - and can often, perhaps surprisingly. help to keep significantly more assets in NEGOTIATIONS GOING FORWARD Having a full, accurate financial picture and the likely solutions means that negotiations, usually led by the family lawyer, should be easler. A good family lawyer will always discuss with a client how any proposed settlement will provide for both parties, not just their own client. If for some reasona settlement cannot be negotiated, the court can assist with this, with the family lawyer providing guidance through the process. If you need any advice at this time, we are providing virtual meetings and as always, your first appointment is free. Family Lawe. by Harinel Chanot 01752 674999 enquiriesethefamilylawco.com www.thefamilylawco.co.uk PROMOTION Separating the finances with dignity Choosing to separate or divorce doesn't have to mean a fight over finances says Divorce Solicitor Jonathan Madge from The Family Law Company ome people facing divorce think it almost inevitable that using lawyers means ) they will take over, removing control from the beleaguered couple and fanning the flames of an expensive and bad-tempered dispute - especially where finances are concerned. However, it is perfectly possible to negotiate a fair financial settlement with help from a family lawyer who is committed to supporting a client In reaching as amicable a solution as possible. APPREHENSION OVER FINANCES Whenever I first meet a new client, the overriding emotion I sense is apprehension - most often about what their financial future holds. It is no the separated couple's hands. A mortgage adviser will independently assess what coincidence that the correct process of negotiating a financial settlement is geared around gradually building an level of borrowing is available to each party. Sometimes a couple use the same mortgage adviser, which helps provide reassurance of even-handed advice. Jonathan Madge Divorce Solcitor understanding of the actual value of available resources, and how these can Where negotiations conclude with a settlement, lawyers will set out the agreement in a Consent Order which is sent to the court. This almost always be divided fairly to meet needs and goals. An experienced family lawyer should be able to give a reasonable steer early on about the general shape of a potential settlement geared around how the client's housing, income and other needs will be met. This does depend on a couple being open about their financial situation, giving comprehensive information that includes property, BEST CASE SCENARIO In the best cases the divorce process can be truly collaborative. Taking the appropriate steps will help a separating couple to feel comfortable about the true level of assets and income and how they can be split to ensure both their needs are met. Financial uncertainty can be alleviated as each starts to picture what the future looks like, where they might live, how income will be made up to meet outgoings and how they will provide for their retirement. includes what's called a "Clean Break so that the separating couple are clear when all their assets have been divided and there is no further claim to be made for either side. In a nutshell the process, we believe, should not be geared towards lawyers taking over and creating a significant dispute but rather encouraging the assets, income and entitlements as well as liabilities and outgoings. separating couple to work closely with their lawyers to gain an understanding of all financial resources and how they can be divided fairly to provide a suitable financial future foe both. CALLING IN THE EXPERTS Using this information, other professionals can help to accurately complete the financial picture. For example, ifa couple disagree on a property valuation a Chartered Surveyor will provide an independent market value. A pensions expert will prepare an Independent report setting out how the pensions can be distributed to provide a particular level of income for each party. whilst a tax expert will suggest how assets can be divided to best manage tax - and can often, perhaps surprisingly. help to keep significantly more assets in NEGOTIATIONS GOING FORWARD Having a full, accurate financial picture and the likely solutions means that negotiations, usually led by the family lawyer, should be easler. A good family lawyer will always discuss with a client how any proposed settlement will provide for both parties, not just their own client. If for some reasona settlement cannot be negotiated, the court can assist with this, with the family lawyer providing guidance through the process. If you need any advice at this time, we are providing virtual meetings and as always, your first appointment is free. Family Lawe. by Harinel Chanot 01752 674999 enquiriesethefamilylawco.com www.thefamilylawco.co.uk