Finances on Divorce - MLP Law

Planning for a comfortable financial future

Money is often a big issue in divorce proceedings, but you don’t actually have to finalise your financial arrangements until after your divorce is granted. Because of this, it’s important to seek expert advice from experienced divorce lawyers, who can help you to know how much you should claim or expect to receive.

This is especially true in cases where you have children with your ex-partner, as childcare arrangements can add even more complexity to post-divorce financial agreements. MLP can help you to divorce with confidence, safe in the knowledge that your lifestyle is secure and your children’s needs planned for.

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How family law experts help with finances

We have advised clients on all kinds of divorces and have seen a wide range of different situations and circumstances.

  • Advice for divorce on low income
  • Advice on dividing significant assets
  • Advice on protecting dependants against poverty

Speak to our team to find out more:
0161 926 9969

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If you are worried about finances in divorce

You should not feel trapped in an unhappy marriage or civil partnership simply because of a lack of finance. We can help you to understand the potential costs of divorce, the settlement you might receive and the implications for your long-term lifestyle.

In many cases, you might be able to live more comfortably than you expect. This is due to often overlooked assets like pension savings, and the court’s commitment to preventing either party from being driven into poverty after divorce.

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Frequently asked Finance on Divorce questions

Will I have enough money after divorce?

In general, yes. Divorce can strain family finances because you and your ex-partner will need to fund two separate households instead of one joint residence. However, there are protections in place to prevent either party from being left with insufficient funds to cover essential bills. Our team can help you to anticipate your likely lifestyle post-divorce.

What if my partner controls our finances?

You have a right to financial independence after divorce. Your spouse must accurately and honestly disclose all assets during the divorce process. Failure to do so could lead to charges of fraud. Also if your spouse has restricted your access to finances during your marriage, you may have a case for domestic abuse under coercive control legislation. If you believe this might be the case, our expert domestic abuse solicitors can help you decide how to proceed. We are highly experienced at handling sensitive and sometimes distressing situations. If your ex-partner prevents you from accessing the money you reasonably need to fund your day-to-day lifestyle, we can help.

What assets am I entitled to?

Your ‘fair share’ of finances and assets can be difficult to calculate. Some examples of items that can be taken into consideration include:

• Joint ‘big ticket’ purchases like a house or car
• Contributions you have made to joint savings accounts
• Investments e.g. stocks and shares
• Debts you have helped to pay off e.g. mortgages
• Pension savings that would have funded your retirement

It’s a long and complicated list that depends on individual circumstances, but our experienced divorce lawyers can help you to decide how much to claim.

Can I enforce a pre-nuptial agreement?

If you have a pre-nuptial agreement in place, this can usually be a big help to decide how to handle your finances post-divorce. The courts tend to honour pre-nuptial agreements, as long as they do not adversely disadvantage either party.

Can we finalise financial arrangements before/after divorce?

Financial arrangements can be finalised separately from the main process of divorce itself. You may want to complete negotiations before you receive your decree absolute; alternatively, you may prefer to complete your divorce and finish the financial settlement later. We can help you in either circumstance, to make sure you get a full and fair settlement from your former spouse.

Speak to one of our experts to see how we can help

0161 926 9969

Why choose the MLP Team?

Not only do we have our substantial experience, we like to think we talk your language.

  • Local, Friendly Team
  • Established Family Law Specialists
  • Resolution Accredited
  • Transparent Pricing
  • Competitive Fees
  • No Upfront Costs

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