Many of us will experience financial anxieties from time to time. For most people, their wages or salary earned via employment will be their main source of income, and the loss of that income on retirement will inevitably invite worries as to whether they will have enough money available to continue enjoying a comfortable standard of living; where will the money come from to enable you to replace the roof, or to have the boiler fixed?
Late Life Divorce
For parties who are faced with a – potentially unexpected – divorce in these later stages of life, these worries might only intensify. Separation in later life might be because of a concern that their spouse will ‘take them for all they’ve got’, or because they had understandably become somewhat dependent on the income received by their spouse or civil partner – e.g. if one party was the ‘breadwinner’ in the relationship.
At Emmersons Solicitors, we are always attuned to the long-term needs of our clients and would look to ensure that any settlement is not only the right settlement for the time being but is going to give our client long term security (insofar as this is possible). For example, you can come to us for advice on the availability of a Pension Sharing Order – a tool which enables the Family Court to transfer a portion of your spouse’s pension into a separate policy in your name; the intention being that this policy will then provide you with an income in the years to come.
As another key part of this exercise, our team of specialists would be engaged in trying to alleviate your financial burdens. For example, if the matrimonial home (or another property) is subject to a mortgage – and you intend to remain living in that property – we will need to establish how the mortgage repayments are going to be met if your income is to decrease.
One option might be to secure regular maintenance payments from your spouse, to ensure that there is enough money available each month for you to pay the bills; or, alternatively, we might negotiate a settlement whereby a lump sum is obtained from your spouse, in an amount which would enable you to discharge the mortgage – thereby giving you security in your new life.
Whatever your circumstances, there will be a lot for you to consider if you feel that your relationship is coming to an end. No matter what stage you are at, you don’t have to go it alone – you can meet with an experienced professional to talk through any worries you might have in confidence, so that – when you feel ready – you can make an informed decision as to how to progress.
If you need help with your divorce or separation, then why not contact us for a Next Steps Divorce Advice Session and to see how we can help you. We can be contacted on:
Family Law Specialists Solicitors Newcastle: 0191 284 6989
Family Law Specialists Solicitors Sunderland: 0191 567 6667
or email us: firstname.lastname@example.org
Nine Reasons Why You Should Instruct a Solicitor To Handle Your Divorce – (and the pitfalls of a Do-It-Yourself Divorce) Free eGuide.
We are frequently asked about the value of instructing an expert solicitor to handle a divorce. We have put together this useful guide which will answer many of your questions. If you are contemplating a divorce or separation, and wondering whether you need a solicitor to assist you, then our guide will help you to decide.