Divorce Myths: Busted! (Part 2)

We have put together and busted the top 10 divorce myths.  Read on to find out what they are and how they could affect you.

 Myth 6: “When we are divorced that is it, everything is done.”

 Busted: If only that was true.

This is one of the most dangerous myths to believe.  Dissolving your marriage does not sever your financial ties to each other or prevent your ex from trying to get their hands on your money further down the line.  It is important to seek legal advice from a specialist family lawyer who can assist you in moving forwards to make sure you are protected.


Myth 7: “We shook on it, it’s a done deal.”

Busted: Informal financial agreements are not final.

This is because they are not legally binding and won’t stop either you or your ex coming back for more in the future.  You need any financial agreement to be approved by the court for it to be final and binding.  Making an agreement informally, during a highly emotional time, could mean you agree to something that is simply not fair.  It is always best to seek legal advice and ensure any agreements are appropriately formalised to protect you and your family.


Myth 8: “When we get divorced, everything is split 50:50.” 

Busted: This gets asked a lot.

In reality, there is no set formula when it comes to splitting assets in divorce.  The law provides general guidelines but ultimately the focus is on a fair agreement.  To make sure you get what you are entitled to, don’t go it alone.  Have a specialist family lawyer on your side.


Myth 9: “It’s in my name so it is mine.” 

Busted: When you are married, your financial and personal circumstances inevitably become intertwined.

Whilst an asset may be in your sole name, it may still be considered a marital asset which can be split.  The best thing you can do is seek legal advice from a specialist family lawyer who will be able to help.


Myth 10: “Divorce is really expensive and always ends in Court.” 

Busted: This does not need to be the case.

Whilst at the outset taking legal advice might seem like an expensive  and scary exercise, having guidance from a specialist family lawyer can save you lots of money in the long run.  We understand that the idea of possibly attending Court can be daunting; however, here at Harrogate Family Law we are proud to report that 95% of our cases settle outside of court.  We are committed to sorting things out for you without a court battle.

If you have heard and believed any of these myths you are definitely not alone.  Knowledge is power and with that in mind we would always recommend that you speak with a specialist family lawyer if you are considering divorce or separation.

We have a team of highly knowledgeable and compassionate specialist family lawyers who are on hand to help.  Call us today on: 01423 594680.

 

Andrew Meehan is an experienced family lawyer specialising in complex divorces involving significant or hidden assets, as well as cases involving children.

He is recommended for family law by both Chambers 2019 (York, Hull and surrounding regions) and the Legal 500 2020 (Leeds/West Yorkshire and North Yorkshire region).

Everyone’s circumstances are different and this article is provided by way of general information only and must not be relied upon.  If you require legal advice on a family law issue, please feel free to contact us by emailing enquiries@harrogatefamilylaw.co.uk.