Divorce Financial Dispute
The client is in the process of a divorce and needs to agree on financial matters with their ex-spouse. The primary issues involve the division of assets, specifically concerning a property and the client's pension. The ex-spouse is not agreeing to the client's proposals, leading to a financial dispute.
Questions about this case
These answers have been verified by a lawyer in the LEAP networkWhat steps can I take if my ex-partner and I cannot come to an agreement regarding the division of the property and my pension?
If you cannot agree on the division of the property and your pension, you may need to apply to the court for a Financial Remedy Order. This involves the court making a decision on how assets should be divided to ensure a fair outcome. Before proceeding to court, it's often required to attend a Mediation Information and Assessment Meeting (MIAM) to explore mediation as an alternative resolution method. If mediation is unsuccessful, you would then file an application to start court proceedings.
How does the court determine the division of assets like our property and my pension in a divorce?
In a divorce, the court's primary aim when dividing assets, such as a property and pension, is to ensure a fair distribution. The court considers several factors, including the welfare of any children, the financial needs and resources of each party, and the standard of living during the marriage.
Are there any alternative dispute resolution methods available to help us reach an agreement on our financial settlement?
You can explore several alternative dispute resolution (ADR) methods to reach a financial settlement in your divorce. Mediation is a common choice, where an impartial mediator helps you and your ex-partner negotiate a mutually acceptable agreement. Collaborative law involves both parties and their solicitors working together to resolve disputes amicably. Arbitration is another option, where an arbitrator makes a binding decision on the financial issues.
What impact does retaining the property or a portion of the pension have on any financial support payments?
Retaining the property or a larger share of the pension can significantly affect financial support payments, as the court considers the overall financial picture to ensure a fair outcome.
How can changes in the value of the property or my pension affect the financial settlement agreement?
Changes in the value of your property or pension can significantly affect your financial settlement in a divorce. If the property value increases, your ex-partner might seek a larger share, arguing that the property's worth contributes more significantly to the marital assets.