The Children Act (1989 and 2004) makes a number of provisions, including orders about arrangements for Looked-After Children, and residence and contact arrangements for children whose parents have separated or divorced.
A prenuptial/premarital agreement, commonly known as a pre-nup is a written agreement made prior to a marriage and states what will happen to any assets and property if the marriage comes to an end. It is not a legal requirement, and not all couples choose to use a pre-nup, perhaps seeing it as unnecessary or unromantic. Some choose to use a pre-nup, maybe to protect property, inheritance, a business or children from a previous relationship. Some couples see a pre-nup as a wise choice particularly in cases where there is a large disparity between the assets and property they both own prior to the marriage.
When you decide to separate it can be an intensely emotional time. Decisions on how to split any matrimonial assets can be fraught for a number of reasons.
It is important to have a full understanding of all of the matrimonial assets in order to decide how these will be divided. The main principle followed by a court when dividing assets will be what is considered to be fair for both parties. This does not necessarily mean equitable though an equal division of assets is the starting point. There is a large amount of discretion in what the Court can decide, potentially making this an unsettling time.
Coming to a decision to divorce or end a civil partnership is a stressful and difficult time. Not only do you need to deal with the emotional fallout from a relationship breakdown, but a number of practical issues will raise their head. One issue which can throw up the greatest difficulties is what will happen to any jointly owned property both during and after the divorce. If you are divorcing, here are some issues to think about before making any decisions.
If you and your ex-partner have come to the decision to divorce or end a civil partnership, the first thing you might be considering is what legal advice you will need, but you might also want to think about getting financial advice from an Independent Financial Advisor (IFA).
You are newly divorced and moving forward with the next phase of your life. The last thing you might want to concern yourself with is yet more legal paperwork. But if the worst did happen and you were to die, are you confident you know what would happen to your assets and more importantly any dependents?
A guardian acts on your behalf after your passing. They are appointed to mind your children up until the age of eighteen. It is best practice to give consent to your chosen guardian (and get them to give their consent). Finding a guardian that is a family member or a close friend can make the process easier and less stressful providing that the family member is well suited to raising your child.
R A Savage & Co Divorce Solicitors, London are authorised and regulated by the Solicitors Regulation Authority - SRA Number 72906
who can be contacted at sra.org.uk
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