Getting divorced and resolving the finances

Getting divorced and resolving the finances

Getting divorced and resolving the finances

With the COVID 19 situation, everything has changed. Bond Adams reviews the impact that the covid19 situation is having on the increase in divorce levels.

Couples are at home for longer. Sadly that can be a comforting time although that can also be a time when arguments happen so much so that it ends in divorce.

As far as the lockdown is concerned, nothing has changed. In fact, people have more time on their hands, to get details of their assets together and make the decision to go ahead with the divorce and sort out finances while matters are not as rushed at work etcetera

Our firm has advanced technology systems as although our headquarters are based in Leicester, our firm has invested in cutting edge technology which makes it easy to carry on with your matter while you are at home. We have always worked in a way where we take details from you over the phone or on a video call, we will then draft the divorce papers, take details of the finances, prepare a divorce petition, prepare the finance papers, speak regularly on the phone and progress matters. We also have our internal team structure where we are swift with our communication.

Let’s go through the various stages of a divorce and what is involved.

The first step – First call or video meeting with the divorce lawyers at Bond Adams to start matters off.

At this stage, we check that you can divorce in the UK. We check matters such as your domicile and other matters.

Step  2: The choice to go ahead.  – We go through the costs of the divorce. We have a number of packages to suit you which involves either a fixed cost, an hourly rate and various credit terms to help you.  Often, the case will involve selling the former matrimonial home and so you will only be able to access your money at that time. We can look at that, as one proposal.

Step 3 – The next step in the journey as regards the divorce and finances, is for us to send you our client care letter and terms of business. This sets out our legal team, how we communicate and all other aspects.

Step 4 – We then start making the application for the divorce and set out the reasons why.  We also start preparing you for what is known as exchanging financial information.

Step 5 Here we look at the finances. For example, is there a home that you both lived in? Whose name is it in? Are there young children in the home who need a home? What was the lifestyle that you both led? Should one party get more of the share than the other? What about mortgage payments in the meantime? Who should move out? What about issues of maintenance payments – should there be any?

If you both cannot agree, then the matter goes on to a court hearing. During the covid19 situation, the family courts are putting face to face hearings on hold and converting then to video hearings or telephone hearings. They will carry on as normal. At Bond Adams, we have video conferencing facilities so that you can either listen in or you can be on a video call with us

Step 6: What is best for both of you and the children. Think about the living arrangements. Should one party stay with the children in the house or should the house be sold? Who will pay the mortgage and can it be afforded by one party? What if both of you now have to go out to work? How will that impact upon any children or the mortgage? What if one of you are disabled and you can’t work? How will that affect the finances?

No one knows how the lockdown will end with the covid19 situation expected to have long terms effects for several months. If your relationship has come to an end and you want to divorce, then proceeding ahead is key to progressing matters particularly when the courts are going to be taking even longer than normal.

If you are having family or relationship problems as a result of Covid-19, Bond Adams divorce lawyers in Leicester are happy to have an initial conversation to discuss your needs and find out the best way forward.

Contact us today: