Divorce Solicitors Newcastle.
This Summer must have been very slow on the national news desks. I say that because every few days the nationals have been publishing survey results. Really they are just another way of businesses promoting their services.
For example, the number of people who wished that they had never been married and the numbers of older people now living together having previously been divorced from a different partner. The statistics are endless.
So what do the statistics mean in respect of matrimonial law? In short, people are still getting married, adults of all ages are still getting divorced and large numbers of them are living with new partners. That is exactly the same asduring the last twenty five years!
What hasn’t changed much at all is the divorce process. If you don’t have any matrimonial finances to sort out, that is, neither of you own anything at all nor have any pensions then the divorce itself will take about 6 months to finalise.
However, for the vast majority of Emmersons Solicitors Family Law clients there are also assets to be distributed. Every case is different but we will have to deal with a number of financial institutions, this could include your pension providers, clients often have numerous pensions. It can take at least six weeks to obtain pension information. Each party then needs to disclose this information to the other as part of overall financial disclosure. Often it is necessary to instruct an actuary to carry out a financial analysis of all of the pensions. The letter of instruction then needs to be agreed between the solicitors.
Why have pensions valued?
If you are trying to achieve equality of lump sums payable and equality of monthly payments to be received. A civil service pension worth £100,000 is likely to produce a lot more income than one worth the same with a private pension company. Therefore it is not simply a case of splitting the current pension values on a 50/50 basis. Imagine you have gone through the above and produced all other financial documents. The house is ready to be sold as you found a buyer faster than you anticipated, you just want to get on with your life. By now you have been seeing your solicitor for a number of months so why can’t it all just be finished today?
If you have managed to reach a financial arrangement then a Consent Order needs to be drawn up and approved by all concerned. Without a court order you cannot obtain a pension sharing order. The draft order needs to be sent to some pension providers for their approval. They may request changes to be made. Your solicitor cannot control what your pension provider requires. The Order may have to be redrafted and then approved again by everyone. Eventually the Order must be sent to the court for the Judge’s approval. If approved it will be sealed. It is usually at this stage that the house is sold or money changes hands if a re-mortgage is taking place. Prior to this you should have been arranging a new mortgage and you should have been dealing with the Conveyancing side of things.
Emmersons Solicitors Conveyancing Department works with our Matrimonial Department so that everything is ready at the appropriate time. Thereafter, if you are to receive part of your partner’s pension, you need to see a financial advisor. You need to decide whether you should remain in your spouse’s scheme, or whether you should join a new scheme. Your solicitor is not authorised to deal with this. As you can see, there is a lot to deal with. Your solicitor is reliant upon you to produce your documents as quickly as possible, your spouse to do the same and financial institutions to produce information. You or your spouse
may become worn out with the process part way through, you may need to slow things down so that you can reenergise. There are many factors governing how long the process takes. You should always allow up to a year to finalise everything.
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.