Sorting Out The Finances
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The estate of a person dying intestate is charged with a fixed sum (the statutory legacy) in favour of the person’s surviving spouse or civil partner. This Order increases the statutory legacy from £125,000 to £250,000 where the intestate is survived by issue, and from £200,000 to £450,000 where ...
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This is an area which often creates misunderstandings. The fact is that, usually, if an inheritance has been received before the divorce, then it forms part of what is in the pot and available for division. It will be a resource; when it comes to dividing who gets what, it will be relevant. Of co...
When considering the capital resources of the family, the central issue is usually the family home. After resolving the short-term maintenance arrangements, it will often be the first issue that has to be dealt with. What happens to the home is likely to be a central part of any financial settlem...
Maintenance orders, Lump sum orders, Transfers of property and Pension Sharing Orders This article contains a fuller description each of these.
When a marriage has broken down the court has the power to make any orders about finances or property which seem to the court to be just, including maintenance orders. The court will look at every bit of property or capital owned by the husband or wife. Each spouse must complete a document which ...
Many couples do not make any changes to their banking arrangements until financial negotiations are well advanced.But if there is a risk that large sums may be drawn out - or if there is a risk that credit or charge cards may be used inappropriately - then it may be safer to take action to preven...
You may have read in the papers about 'big money' cases - where the assets available for division clearly exceed the parties' needs - have focused on the concept of equality of outcome. Contributions to the running of the home and the bringing up of children are valued equally by the court on div...
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