Matrimonial Finances – Dividing the Matrimonial Pot In an application for Divorce, the Final Order will determine the end of the marriage. It will not of course end the financial ties between former spouses. A Financial Remedy Order is required, preferably by agreement of the parties or, if necessary, the Court will make an order as to the division of your hard- earned cash, property and pensions. At Browell Smith and Co Solicitors, we advise and assist our Clients in negotiating financial settlement and, where it is possible to do so, keep matters out of court by agreeing a division of the assets and incorporating that into a Financial Remedy Order to be approved by a District Judge. Simply reaching an agreement does not mean an Order will be approved by the Court in those terms. Each and every case is determined on its own specific facts and circumstances. The starting point in respect of a division of matrimonial assets is to ascertain “what is in the pot”. Once all matrimonial assets are quantified then the first exercise is to determine what would be a fair division of that pot having specific regard to the Section 25 factors as set out in the Matrimonial Causes Act 1973. The needs of any children are of course paramount. Thereafter the needs of the parties both now and in the future must be considered. It is of course preferable where possible for there to be a clean break as to income, capital and upon death. This enables parties to be in a position to move on with their lives. Negotiating and Drafting Financial Agreements The Family Law Team at Browell Smith and Co are here to assist you throughout divorce proceedings to include negotiating and drafting financial agreements and representation at Court, should agreement not be reached. We strongly recommend obtaining legal advice at the outset of matters. If you require advice and assistance, no matter what stage of proceedings you are in, then please do not hesitate to contact the Team.
What is nesting and does it work? Nesting is a form of child arrangements, which can be adopted by parents to enable the children of the family to remain living in the family home following the separation. The parent who is not in the family home would need to stay with friends or family whilst the other parent resumes occupation of the family home. In some cases, parties agree to rent a one bedroomed property for a fixed period to provide a base for each parent when they are not spending time in the family home with the children. This is of course dependent upon available finances resources. Why would parents consider this type of arrangement? Nesting allows the parents to move in and out of the home rather than the children, often the goal of a Nesting arrangement is to provide stability and security to the children and to minimise the disruption that is usually caused by the separation of their parents. It allows the parents to focus on the needs of the children and to put them first. What are the Pros and Cons of this type of arrangement? The Pros of Nesting Arrangements Children can remain in the family home and their daily routine does not need to change immediately following the separation of their parents. Parents can work together for the benefit of their children and can remain equally involved in the upbringing and care of the children. The Cons of Nesting Arrangements The parties must be able to communicate. Trust and communication are key requirements to this type of arrangement being successful. Nesting is usually only a short-term arrangement whilst the parties find their feet following a separation and whilst financial settlement negotiations are ongoing and/or transfer of ownership or a sale of the property is pending. The non-resident parent will need to have somewhere else to stay when they are not with the children. When should nesting be considered? In most cases, this type of parenting should be considered as an option as it is a way of promoting positive parenting and it does allow the parents to put the children first. Due to the level of communication and cooperation that is required to make this type of arrangement work the parties will need to be amicable. Nesting is unlikely to work in situations where the separation is acrimonious, where parents wish to move out of the area or are already in a relationship with a new partner and, in cases where children are older and more aware of their parent’s separation. Nesting can be a good alternative option to consider as a short term solution; particularly when children are very young. Nesting may also be useful where parents are shift workers. How can we help? The Family Law team at Browell Smith & Co have a wealth of experience in negotiating child arrangements and we aim to provide clear and tailored advice and assistance in respect of your specific family circumstances. Our team are highly experienced in this area and are able to advise and assist you in negotiating an agreement, referring to mediation and/or making an application and representing you in the Family Court should such a step be necessary.
It’s the most wonderful time of the year…or is it? Child Arrangements at Christmas Christmas is a time for families to come together. If however, you have recently separated; then Christmas can of course become a minefield in terms of arrangements regarding the children. Both parents understandably wish to spend time with their children at this most special time of the year. Leaving the planning of arrangements for Christmas until the last minute can cause unnecessary distress to all involved. It is of course preferable for both parents to communicate at an early stage and well in advance of the festive period to reach an agreement that works well for all involved, particularly the children. In certain situations it can be difficult for parties to communicate, agreements cannot be reached, compromise is off the table and families are left at an impasse. If you find yourself in a situation like this then we recommend taking legal advice as soon as possible. Tailored Advice for Child Arrangements this Christmas At Browell Smith and Co we provide clear and tailored advice and assistance in respect of your specific family circumstances. Our team are highly experienced in this area and able to advise and assist you in negotiating an agreement and / or making an application and representing you in the Family Court should such a step become necessary.