When divorcing couples talk about splitting their assets they’re usually referring to the family home. Admittedly this can be a big part of the settlement but there could be a lot more up for grabs if you know where to look.
We understand that when you are separating or divorcing, you want it over and done with as painlessly as possible. You also will want the right outcome for you and your family.
Admittedly, a pre-nup is not the most romantic item on a wedding plan. In fact, it’s quite possible that it doesn’t feature on your to do list at all. Why? Perhaps it’s because you’re worried it will spoil the romance. Or, maybe you think pre-nups only apply to people with loads of money.
Most people wish to protect their inheritance if there is a divorce.
When you are going through a divorce, it is easy to focus on assets such as the family home and forget about how you are going to deal with loans, credit card balances and other outstanding debts. You or your ex may even owe money that the other doesn’t know about.
The cost of seeking expert legal advice can be such a concern for some people that they delay going to a solicitor until they absolutely have to. This is completely understandable, particularly at a time when your future financial security is so uncertain. But the issue of how you pay your divorce costs is something we can help you with and it shouldn’t stop you getting the support you need. The sooner you get expert legal advice, the better.
When you think about possible reasons why people get divorced, the more obvious ones tend to spring to mind: One person having an affair? Financial difficulties? A lack of love and affection? However, there are other, not as obvious reasons that over time can be detrimental to a relationship. Do you treat your house like a hotel? Are you addicted to social media? Read on to see if any of these feel familiar:
Following on from last week’s blog, read on to find out more about how to take back control when you are separating.
1. Time: the greatest healer?
You may find yourself in shock. This may be a position you never thought you would end up in. You probably have no idea what to do. It sounds like a cliché, but time really is a great healer. It is also important to make some time for you. Do things you like doing and make an effort to put yourself first as much as possible.
We deal with many cases involving SME’s and businesses. The impact on a business of a marriage breakdown can be significant:
- It can be difficult to focus on your work while you are dealing with the emotional fallout of your separation. This can affect financial performance, the value of the business and the level of your income.
- The business interest may well be an asset to be considered in the financial settlement.
- If the business is run as a joint venture by both of you, the future of the business will need to be decided