At Maria Fogg Family Law we can provide you with expert legal advice regarding financial matters.
Married parties make financial claims against each other under the Matrimonial Causes Act 1973. Civil Partners make financial claims against each other under the Civil Partnership Act 2004. All orders available to spouses are available to civil partners except the pension attachments orders.
When making Orders resolving financial matters the Courts first consideration is the welfare of the children of the family. The court also considers the parties incomes and available assets, needs of the parties, age of the parties, parties’ disabilities, duration of the marriage, standard of living, parties’ contribution to the marriage and conduct.
The Court can make various financial Orders with regards to the parties’ income, capital, property and pensions. Such orders being Lump Sum Orders, Property Adjustment Orders, Orders for Sale, Mesher Orders, Periodical Payments Orders and Pension Sharing Orders. A Mesher Order allows the parent who has residence of the child(ren) of the family to remain in the property until the youngest child reaches 18 or any of the children leaves full time secondary education.
Parties can reach their own financial agreement, though it may be advisable to place the agreement into a Consent Order and have the Order approved by the Court to make the Order legally binding. If there is no Consent Order or Order of the Court resolving financial matters either party may be able to make a further claim against each other at any time in the future.
At Maria Fogg Family Law we can draft the Consent Order and place it before the Court for the District Judge to approve.
If parties cannot agree financial matters between themselves or through solicitors Court Proceedings can be issued for the Judge to make a Final Order. To ensure your spouse or civil partner cannot make further financial claims against you in the future you must obtain either a Consent Order approved by the Court or a Court Order by a Judge.
As financial matters are likely to affect not only your life but your children’s in the future it is important to obtain expert legal advice. At Maria Fogg Family Law we can provide you with full advice.
Please contact us for further information and advice.