UK Family Law Solicitors Assess the L&G Report on Divorce Financial Struggles
Recently published research from Legal & General emphasises the importance of speaking to specialist Family Law Solicitors when starting divorce proceedings. It is equally important to take financial advice and reality test your proposed divorce settlement to check that it will work for you in real life rather than simply looking OK on paper.
If you read the research and realise you need help with negotiating a financial settlement, our London Divorce Solicitors can provide the expert family law advice you need.
Online and London Family Law Solicitors
Call the expert London Family Lawyers at OTS Solicitors on 0203 959 9123 or complete our online enquiry form.
Appointments are available for phone, Zoom or Skype consultations or at our offices in London.
Our lawyers speak Arabic, Armenian, Farsi, French/Mauritian Creole, Spanish, Tamil Tagalog/Ilonggo, Urdu/Punjabi.
The Legal & General divorce research
The Legal & General has produced some very interesting research material that is a wake-up call for UK Family Lawyers.
Here are the key research statistics:
- 40% of research respondents thought the divorce process was financially unfair
- Only 7% of the research respondents sought specialist legal advice
- 13% delayed their divorce due to income concerns
- 45% of divorcees found their incomes reduced by around 30% post-divorce, amounting to an average income drop of over £9,000 a year
- 18% found taking divorce-related time off work increased the financial pressures on them
When it comes to pensions, it is understandable that a company like Legal & General wanted to know about the pension and financial experiences of those going through divorce proceedings. The research findings are worrying:
- Only 13% considered pension assets when dividing assets
- 23% of respondents did not pursue pension claims
- Nearly 70% were left financially exposed without clean break financial court orders
- 11% did not update their Will after their separation or divorce
For more information on the Legal & General research, have a look here.
Talking to a London Family Lawyer
What the Legal & General research didn’t reveal is the reason why most of those answering the researcher's questions didn’t talk to expert Family Law Solicitors before starting divorce proceedings or sorting out their financial settlement.
At OTS Solicitors, we tend to find that people don’t realise why they need expert family law advice. For example, they think that they can't oppose a no-fault divorce, so why speak to a Family Lawyer? In most cases, they are right in thinking that they wouldn’t be able to object to a divorce, but a Family Law Solicitor could:
- Advice on children arrangements as, unlike some common assumptions, the family court may say that the children shouldn’t split their time equally between both parents or that a father should get to see their child more than once a week
- Help them reduce the financial impact of the separation by looking at the availability of things like child support or spousal maintenance
- Assist them in staying in the family home through advising on an injunction application (a non-molestation order or ouster order) or assisting them with a mesher order or an order transferring the property from joint names to their sole name
- Ensure that assets such as the family home, shares in a family business or a pension are accurately valued
- Explain how they can be supported in reaching a financial settlement without having to go to court to ask a judge to determine how the assets should be split
Calling a London Divorce Solicitor doesn’t commit you to going to court in contested court proceedings, but it should give you an insight into:
- Why you would benefit from legal advice on the divorce proceedings
- Why you need a financial court order
- The costs of taking expert legal advice and the timescales
If you are concerned about picking up the phone and speaking to a Family Solicitor in London about your divorce, the parenting arrangements for your children or your financial settlement, then have a look at our client reviews. They will give you an idea of how we focus on helping and supporting you in understanding your legal rights and getting the orders you need to protect yourself and your family.
Contact our Family Law Solicitors in London now.
FAQ on divorce and financial settlements
Can I get divorced without a child arrangement order or financial court order?
You can finalise the divorce proceedings and secure your final divorce order without obtaining a child arrangement order or a financial court order. However, it may not be in your best interests to do so.
Our Family Law Experts can look at your situation and explain if, in your circumstances, it would be best to secure orders before you complete the divorce proceedings.
If I divorced years ago, can I ask the court to make a financial court order?
The end of divorce proceedings doesn’t automatically prevent future financial claims. That is something people need to be aware of when divorcing without getting a clean break financial court order.
If you divorced years ago, you are still entitled to bring a financial claim, but the delay may be something that the court considers when deciding on the appropriate financial court order.
Do I have to go to court to get a financial court order?
Most people can reach a financial settlement by agreement with their ex. This can be through Family Law Solicitor negotiations or family mediation. You still need a financial court order, but this can be made by agreement without either you or your ex-spouse needing to attend a court hearing. If you can't reach an agreement, then either you or your former spouse can apply to court for a financial court order. Getting an order isn’t mandatory, but it does protect you and give you peace of mind. For example, if after you separate, you or your employer continues to pay into your pension and you don’t have a clean break financial court order, your ex-spouse could ask the court for a financial settlement, including a pension sharing order.
It's always best to speak to a Family Lawyer about why you need a financial court order and how best to obtain one.
Online and London Family Law Solicitors
Call the expert London Family Lawyers at OTS Solicitors for help with your financial settlement and court order. Call us on 0203 959 9123 or complete our online enquiry form.
Appointments are available for phone, Zoom or Skype consultations or at our offices in London.
Our lawyers speak Arabic, Armenian, Farsi, French/Mauritian Creole, Spanish, Tamil Tagalog/Ilonggo, Urdu/Punjabi.
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How to Respond to a Divorce Application