Divorce Planning

Thomas Duggins, solicitor in the family office at Charles Russell, explains how the correct advice can minimise the financial and emotional stress of a divorce.

Along with moving house and bereavement, divorce is one of the most stressful experiences faced by adults in the 21st Century. In particular, wrestling over shared financial assets and possessions amassed over many years can be emotionally draining for the couple involved.

There is no set formula for redistribution of assets or income on divorce and the courts are at leave to use their own discretion, with reference to case law and statutory criteria.

When considering whether a maintenance order is appropriate, the courts will consider the parties' respective financial needs, the contribution they have made to the other parties' income and whether one party (generally the wife) has sacrificed their career to raise children.