Dividing assets after a marriage breakdown can be one of the most stressful aspects of the divorce process, causing instability and anxiety for all concerned. The financial remedy procedure deals with the division of your assets when you are undergoing a divorce.
Uncertainty can be overwhelming and one of the main concerns for clients facing a divorce is often how they will cope financially and how the assets and debts of the relationship will be dealt with. All these concerns can make the future daunting with the financial world around you appear to collapse. This is why legal support is recommended as soon as the problem arises so that we can help advise you.
We take the pragmatic approach and the vast majority of our cases are settled via negotiation without the need to attend the Family Court. We aim to identify core issues at an early stage through full and frank financial disclosure of all assets of the parties which is necessary to finding the right solution.
Our team actively encourages positive communication and negotiation between divorcing parties where possible, and as a result of cooperation your divorce will be more straightforward and less expensive.
If in the event negotiations fail, we can assist you in making an application to the Court to make a financial Order in your favour.
The court can make various orders such as:
- Transfer or sale of property
- A lump sum payment
- Division/sharing/transfer of pensions
- Short or long term regular maintenance payments
It is often the case that even when court proceedings are issued, a judge will provide directions as to how the case should progress and even the most uncooperative people see that a compromise is better than an Order imposed by the judge. We find that settlement agreements are commonly entered into around this stage.
You might also be faced with your spouse seeking to hide or dispose of an assets to defeat an entitlement you might have to a share. On such occasion it may be necessary to take immediate steps to preserve and protect assets, these are called Emergency Orders.
We strongly recommend that you contact our office as soon as you become aware of the problem and we can advise and guide you through the process.
We aim to advise our clients on costs at the earliest possible opportunity. Please read our information on costs and contact us for more information.