January 08, 2019 | Posted by : J Morris
When negotiating a financial settlement during divorce or dissolution, there are several ways of dividing up your assets. You may decide to split things straight down the middle, or figure things out on a more flexible, case-by-case basis. Perhaps you’re able to come to an out-of-court resolution between the two of you, or maybe you need some extra help in deciding what’s fair. When one of you is in a financially weaker position, however, arrangements should be made to ensure that the more vulnerable partner is able to adjust to their new circumstances – either via a lump sum (‘a clean break’), or ongoing spousal maintenance.
A Clean Break
A clean break means ...
January 01, 2019 | Posted by : J Morris
Unmarried couples who live together do not automatically have the same legal rights as married couples, and when it comes to separation, sorting out the division of finances, property and assets can be tricky.
If your situation isn’t straightforward, it’s important to get legal advice on what you may be entitled to, and how to reach an agreement with your ex for a fair resolution.
The most common causes for dispute between cohabiting couples during separation are:
Handling finances (including dealing with any shared debts)
Splitting assets such as property (particularly if only one of you is named on the deeds)
Making children’s arrangements
When it comes to finances and assets, a ...
August 20, 2018 | Posted by : J Morris
According to a recent study by TD Bank, Millennials are more likely to discuss money and finances on a regular basis than Boomers and Gen X couples. The researchers discovered that Millennials are more open about financial conversations than previous generations – a habit that is not only making them happier but also encouraging stronger relationships.
The report revealed that 75% of Millennial couples (18-34-year-olds) discussed their finances at least once a week, in comparison to 66% of Gen Xers (35-44) and 44% of Baby Boomers (55+). On a monthly basis, the numbers were slightly closer, with 97% of Millennials and 93% of Gen Xers talking about money at least ...
March 23, 2018 | Posted by : J Morris
The process of divorce can be fraught with animosity but it’s important to focus on the endgame – parting ways and starting anew – rather than getting wrapped up in antagonistic pettiness, as proven recently by a wealthy UK couple who have already spent a third of their assets on their ongoing divorce battle. The estranged couple, Barbara Cooke and Michael Parker, have been fighting over joint assets worth over £6 million in a case that has been described as a ‘scandalous waste of court time’ by the judge, after spending over £2 million on lawyers’ fees.
Judge Holman claims that the couple have ‘completely lost touch with reality’ over their ...