Family
Financial Issues
The Family Department at Lyons Davidson have an acknowledged expertise in dealing with the financial issues consequent upon relationship breakdown. James Myatt, Louise Higham and Victoria Moore are all Resolution Accredited Specialists in this field. James specialises in cases involving substantial assets, whilst Louise and Victoria are accredited in relation to cases with limited assets. The Finance Team, which includes a number of more junior solicitors, has extensive knowledge and experience of dealing with financial issues. The team regularly advise in relation to cases involving businesses and limited companies. Where appropriate, specialist assistance is sought from other professionals such as Accountants and valuers.
We will guide you through the process of resolving the financial issues in your relationship breakdown. We will discuss with you the various options available for this, to include written negotiations, round-table meetings, mediation and Court proceedings. We will aim to help you resolve matters in the manner which suits you best.
The underlining duty is to provide your former spouse or partner with a full and frank disclosure of your financial circumstances. The disclosure often takes the form of a completed printed form with supporting background documents. These are exchanged and questions can be asked in order to clarify each party's financial position. Where Court proceedings are necessary, we will guide you through these, explaining how the various steps within the Court timetable assist you in moving your case forward to a settlement.
The criteria or factors taken into account are as follows:-
(a) the income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the Court be reasonable to expect a party to the marriage to take steps to acquire;
(b) the financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
(c) the standard of living enjoyed by the family before the breakdown of the marriage;
(d) the age of each party to the marriage and the duration of the marriage;
(e) any physical or mental disability of either of the parties to the marriage;
(f) the contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contributions by looking after the home or caring for the family;
(g) the conduct of each of the parties, if that conduct is such that it would in the opinion of the Court be inequitable to disregard it;
(h) in the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by return of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.
Additional factors apply in relation to claims on behalf of children.
The Team has extensive links with Barristers both locally and nationally who are brought in to assist where appropriate. The Team also regularly deals with applications made on behalf of the children of unmarried couples for financial provision to cover accommodation, transport, education and general support.
Contact: James Myatt or Louise Higham