Why You Should Consult a Solicitor for Financial and Child Arrangements During Divorce
The Divorce, Dissolution and Separation Act 2020 was passed in June 2020 and came into effect on the 6 th April 2022. This introduced the no fault divorce. This, along with the increasing accessibility of applying for a divorce yourself online, has meant that ending a marriage can be more straightforward than was previously the case. However, whilst these ‘DIY’ divorces will handle the basics, they may miss important details about finances and child arrangements. Consulting a solicitor is crucial to make sure your financial future is secure and your children are well cared for.
Understanding Your Finances
Divorce isn't just about ending a marriage. It also means allocating your shared finances. Without legal advice, you may unwillingly sacrifice assets that you would otherwise be entitled to. Here’s why instructing a solicitor is so important:
1. Dividing Property and Assets
Splitting property and assets is often a very difficult part of a divorce and can cause conflict between both parties. The division is based on fairness and is not necessarily always an equal split despite the initial presumption of it being so. Factors such as the length of the marriage, each person’s contributions and the needs of any children are considered.
A solicitor can guide you on how to fairly divide assets such as the family home, pensions, savings and any investments either party own either jointly or individually. They ensure you receive a fair share of the marital assets but also ensure that your personal interests are
protected. This can be particularly relevant in situations where one spouse is financially dependent on the other or if some of the assets are being kept secret. Further protection will be sought if either party comes into the marriage with their own property and therefore, taking a solicitor’s advice is crucial in ensuring your ownership is protected.
2. Pensions
Pensions are usually one of the most significant assets in a marriage, but they are quite often overlooked in DIY divorces. This is because a pension is not an asset that is available immediately but rather a future asset which is paid out on retirement. Pensions can be divided in different ways, such as pension sharing or pension offsetting. Due to the fact that some pensions are complex and people can have multiple pensions, not getting legal advice could negatively impact upon your future finances.
A solicitor can help you understand the value of pensions and how to divide them fairly. They can negotiate a pension sharing order to ensure both parties have enough for retirement.
3. Investments and Debts
Investments such as stocks and bonds need expert legal advice to divide properly. They might be tied up in trusts or other complex setups, and any debts must also be considered. A solicitor makes sure all assets as well as liabilities are accounted for and divided fairly.
4. Spousal Maintenance
If there’s a significant difference in income between you and your spouse, you may be entitled to spousal maintenance. A solicitor can help you to decide if maintenance is needed and ensure any agreement is fair before being entered into.
Child Arrangements: Focusing on Your Children’s Wellbeing
While finances are important, ensuring your children are well taken care of is crucial. Divorce often significantly impacts upon children, and making arrangements for your children can be one of the hardest parts. Here’s why a solicitor’s help is vital:
1. Understanding Parental Responsibility
Both parents usually share responsibility for making major decisions about their children’s lives, this can include decisions surrounding their education and healthcare. Divorce can complicate these decisions, leading to disputes over where the children will live, how much time they will spend with each parent and their schooling needs.
A solicitor can help you understand your rights and responsibilities. They can also assist in applying for a Child Arrangements Order to set out clearly the time that a child spends with each parent or agreeing the terms of a parenting plan.
2. Ensuring Fair Child Support
Child support is an important part of divorce where legal advice is necessary. The calculation is usually based on income, the number of children, and the time they spend overnight with each parent. Disputes can often occur over what is fair, especially if one parent has an unstable form of income or whether there are any extra costs like private schooling.
A solicitor can ensure child support is calculated fairly and can assist in negotiating and creating an agreement.
3. Protecting Your Children’s Emotional Wellbeing
Divorce can be hard on your children so it’s important to handle it carefully. A solicitor will understand these challenges and can offer advice on minimising the impact on your children.
If there are concerns about your children’s safety or wellbeing, a solicitor can take legal steps to protect them, such as applying for emergency orders, making sure their best interests are always the priority.
How Can a Solicitor Help You?
Divorce is a major event in anyone’s life and an event where binding agreements made during the process could have a long-lasting impact on you and your family. Although it may seem tempting to choose the quicker route of a DIY Divorce, instructing a solicitor is crucial to protect your legal rights and make decisions about your future knowing you have had the relevant information set out for you.
A solicitor provides expertise in handling the complex legal aspects of divorce and can advocate for your financial security and your children’s wellbeing. By choosing to seek legal advice, you can be confident that you are making the best-informed choices for yourself and
your family immediately and for the future. Investing in good, solid legal advice gives you peace of mind, knowing your divorce is managed with care and attention.
For advice in relation to any of the above, please do not hesitate to contact Philip Elliott at or call our office on 01234 303030.