This month (April 2016) the Family Justice Council of England and Wales has published it’s guide, Sorting Out Finances on Divorce. It is designed for “those who have normal levels of wealth” and is intended to demystify what is a complex area of law, but at over 50 pages is still a daunting read.

Therefore, Kiteleys Family team have summarised some of the key points:

• The objective in all cases is to achieve a result which reflects the best possible outcome for each family.

• The law does not set out hard rules or a mathematical formula. Each case has to be considered on it’s particular circumstances.

• The welfare of children under the age of 18 has to be “the first consideration”.

• In most cases a “fair outcome” is based on meeting the family’s “needs”. As a result, in most situations, assets will not just be divided 50/50.

• Only in very rare and extreme cases will a spouse’s share of the assets be reduced because of his or her bad conduct.

• Achieving a “clean break” should be the aim, for the spouses to achieve financial independence from each other, but this might not be fair or possible where there are children or the marriage has been long.

• The honest “disclosure” of all financial information is very important.

• Reaching an agreement away from court is generally cheaper and quicker than going to court for a judge to make a decision, but an agreement will still need to be formally recorded in writing to be legally binding.

• It may be sensible to seek legal advice on the wording of an agreement document, such as a “consent order”, to ensure that it is legally correct.

However, this summary can only briefly touch on the complex issues which a family face when spouses separate and divorce. Also, the recently published guide does not deal with the entirely different and complex law concerning financial arrangements between couples who are not married when they split up.

If you have any family legal problem, then help is available via Kiteleys Family team.

A Fixed Fee Meeting and a Fixed Fee Divorce are available.

Contact any Kiteleys Office to be put in touch with a specialist family law solicitor.