Separation – Where do I stand Financially?

Separation and financial implications are subjects that our Family Law team are approached with on a daily basis.

It is a very difficult and frightening time when a relationship has come to an end, and any uncertainty regarding your financial position needs to be clarified in easy to understand terms. The situation varies depending on your relationship status, as the experience of undergoing separation is different for married couples as opposed to co-habiting couples.

Married couples have the protection of the law to ensure that a fair settlement is reached, providing for the needs of both parties, paramount consideration being given to any minor children of the family.

For co-habiting couples, the process of separation is very different. Their financial claims, upon separating, are limited. However, this does not mean that you would not be entitles to make a claim.

To provide specific advice with regards to what you may be entitled to, claims you can make or claims that may be made against you, further information regarding your relationship is required. Factors such as the length of the marriage or partnership, and whether or not there are children involved, can make a different to the process.

Details of your respective financial positions with regard to income, outgoings, liabilities, property interests, business interests and pension provisions would also be required in order to provide comprehensive and bespoke advice, as facts of each case are different and therefore the advice and outcome is different.

Our Family Law team understand that when a relationship breaks down this can be a stressful time for all individuals involved. We ensure there is a formal record of the separation, and any agreements unique to your circumstances. If you need advice on any family law matter then contact one of our local experts in Huddersfield, Halifax, Morley, Pudsey, Leeds Wakefield or Horbury on 0800 015 0340.