Many people find that divorce is both financially and emotionally complex. However, it can also be straightforward. Here are five ways that can help make a divorce less stressful.
- Act early and obtain legal advice
Without professional advice, there is a risk that you may agree to an unfair settlement. You may also make mistakes that are difficult to resolve later and may result in higher costs being incurred by you. Speaking to a solicitor at an early stage will help you understand the process and avoid making costly mistakes.
- Do not mislead the court
Do not try and hide assets and mislead the court. Attempting to hide assets will damage your credibility and may result in penalties and potential disputes later on which can be costly. You should be fully transparent about your finances to ensure that a fair settlement is reached.
- Do not involve children
It is never in a child’s best interests to become involved in a dispute between their parents. Sometimes a parent will involve their children in disputes or even try and use them as leverage against their ex-partner. This can be harmful for the well-being of everyone involved. If you need to reach an agreement regarding the children, you can consider a parenting plan, or, if you are unable to reach an agreement, a child arrangements order can be obtained.
- Ensure all assets are considered
Many people may not realise that other assets such as pensions should also be taken into account on divorce. Your long-term financial security should be the priority. Pensions can sometimes be just as, or more valuable than property and should not be overlooked. Failing to take other assets into account, can sometimes leave you financially vulnerable later in life.
- Do not reach an agreement without first obtaining legal advice
Many people will try and reach an agreement amicably in the hope that it reduces legal costs, however, informal agreements are not legally binding and can often be unfair. For example, you may not be taking into account all of the assets and liabilities when reaching the agreement which may affect your long-term security. Financial agreements reached during divorce should always be recorded and made legally binding by ensuring both parties enter into a consent order which is then submitted to the court for approval.
If you are unsure what your rights are following separation, our family team are available to provide expert legal advice and enable you to move forward with confidence. Please contact our family law team on 01792 655178.