If you separate from your spouse, it’s important to get early advice on the financial issues that arise. We can offer you clear, practical advice on how to protect your interests and achieve the most beneficial settlement.
We can provide advice on all the financial issues and tax consequences arising including maintenance for your family and the treatment of assets such as business interests and pensions.
Spouses have a duty to “aliment” i.e. maintain each other until divorce. The duty is to provide such support as is reasonable in the circumstances and the Court will consider the following factors:
• The needs and resources of the parties
• The earning capacities of the parties
• All the circumstances of the case
There is no such duty for cohabitants.
We will be able to advise as to the level of aliment you should be entitled to receive/pay and how to progress matters quickly.
In Scotland, in an action for divorce, either spouse may apply to the Court for “financial provision on divorce”. The Courts must consider several principles when deciding what financial provision to award and also what is reasonable, having regard to the resources of the parties.
The guiding principle for financial provision on divorce is one of fair sharing of the net value of the matrimonial property, as at date of separation between the parties. “Fair sharing” has been interpreted as dividing property on a 50/50 basis, although there can be various circumstances where property is not split equally. Advice is essential to determine whether there are such circumstances in each individual case.
For more information about the financial issues involved in separation and divorce, download our easy-to-understand briefing on the subject. Financial Issues
Latest service news & features
2 April 2014
When couples separate with a view to divorce or the dissolution of their civil partnership, there can be a great deal of misunderstanding surrounding the subject of pensions.
27 March 2014
Separating from a spouse can be extremely difficult and, for some, divorce is not something that they want to consider. Often, however, separated spouses wish to be divorced as quickly as possible. Here we look at the options.
18 March 2014
What constitutes Matrimonial Property? Carla Melville from our Family Law team answers this question, in the context of trying to resolve financial issues before a divorce.
13 February 2014
With Valentine’s Day just round the corner, thoughts are focused on romance. February is a time when many couples decide to take the next step in their relationship, whether that be moving in together or getting engaged.