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The Four Phases of Divorce and Separation and How to Manage Them
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The Four Phases of Divorce and Separation and How to Manage Them

Published on
Peter Marples
Peter Marples
Director
Fair Result

As professionals operating for many years in the divorce market, there are similarities in every divorce we are involved in.

Whilst the process itself often causes distress – the common phases which most people experience are:

  • Time
  • Cost
  • Uncertainty
  • Stress

How you manage each of these, which occur either during the entire divorce process or can be experienced intermittently is key to both understanding and planning on how you deal with each of them.

Time

It takes time to make the decision itself to divorce or separate. Often years of misery ultimately bring the moment upon which there is a ‘tipping point’.

Whilst that is a milestone itself, the time taken to divorce can be long and you need to plan for this.

Even the simplest of divorces will take a minimum of six months – that is the process set by the Justice system, giving parties time to cool off if they want to or to plan arrangements. We have never seen a situation where a couple uses the 20 weeks cooling off to actually reconcile but I am sure there are some.

But too often, couples apply for a divorce and DON’T use the 20-week cooling-off period to actively manage the financial aspects of the divorce. This process should run in parallel to the divorce itself so that if negotiations are effective then you will be ready to finalise the financials and the divorce itself as soon as the process enables you to do it.

So, the first tip is to use the time from filing the divorce application to immediately commencing the financial negotiations.

Cost

Costs can be significant, the process slow and the quality-of-service provision poor from advisors. As we have said many times before, you wouldn’t build a house extension or even have your house decorated at an hourly rate, so why does everyone agree to this when going through a divorce?

Your lawyer will say ‘they can’t give you a fixed price because they don’t know what is involved’ when the reality is that 80% of divorces require the same processes and anyone with a few years of experience should be able to judge the likely time required, accepting some tasks will take longer than expected but sometimes they don’t take as long. It’s no different to when you are digging foundations.

So, make sure you get a fixed price for your divorce – not an estimate. A fixed price gives you certainty and, in my opinion, means your lawyer is focused on getting you a result, often quicker than charging you in 6-minute increments.

So never get an estimate, always a fixed price for each element of your divorce and make sure they stick to it – even better if you don’t have to pay until the divorce is finalised.

Uncertainty

Probably the biggest issue in any divorce or separation, both before the separation occurs, during the divorce and frequently after.

We have many situations where spouses often stay together because they simply cannot bear the uncertainty of a new future – despite how miserable they may be with their existing relationship. We hear all too often, still in this modern world of spouses that have restricted funding and men in particular use this as leverage to keep them in the relationship and marriage, however unhappy they may be.

Whilst the future is uncertain, for most people they do move on quickly after a marriage, either alone, with extended family or with a new partner.

With finances pooled in a marriage, despite my observation above they are always going to go further than when a couple have to set up two homes and have two sets of overheads. It will be inevitable for a year or more, the finances will be strained. It’s much akin to a couple stretching themselves to buy their first home – after 18 months or so, the financial stretch doesn’t seem so bad.

The key is to try and look forward – life will change, often for the better with a new partner and the grass can be often greener on the other side of divorce.

Don’t let the uncertainty keep you in a miserable relationship. We often maintained contact with our former clients who tell us ‘It’s the best thing I ever did.

And finally,

Stress

Divorce and separation is often the most stressful experience of someone’s life, much more so than the loss of a loved one through death, loss of a job, or other sudden shock.

It causes some sense of failure, uncertainty, and above all – how to move on.

The unknown of the divorce process, the unwinding of joint finances, the arguing and battling to agree on parenting arrangements and indeed finances are all matters that cause significant stress.

Stress needs to be managed and it is not a sign of weakness to ask for help. Quite often, we refer our clients to CBT support – just 2/3 sessions will bring a sense of perspective to what is happening, enabling individuals to cope with the short-term impact of divorce and separation.

Finding a professional who can help you with all of this as part of your divorce team is important. Look for those that are available 24/7 – our unique WhatsApp group provide such support.

Get help and support and ask your advisors before you appoint them how they can help you.

Conclusion

To get out of that miserable relationship is never without pain, but it is a short-term pain for long-term gain. Don’t be frightened as you are not alone and make sure you find a family law practice that understands the issues described above and most importantly helps mitigate them, not exacerbate them!

Read more articles by Peter Marples.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

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Take Control of Your Divorce Process
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Take Control of Your Divorce Process – Don’t Let it Drag On

Published on
Chris Sweetman
Chris Sweetman
Director
Fair Result

Going through a lengthy, drawn-out divorce can take an immense emotional and financial toll. As Neol Gallagher said: Divorce is a long, drawn-out process, so it affects the mood. When the divorce process drags on for months or years, it prevents you from moving forward and starting fresh. You remain stuck in limbo, unable to heal and plan for your new future.

A prolonged divorce also drains your bank account. When lawyers are heavily involved over an extended period, the costs add up quickly. Legal fees, expert witnesses, paperwork, and other expenses continue to grow as time goes on.

In addition, communication often suffers in a lengthy divorce. With lawyers acting as intermediaries, direct communication with your former partner breaks down. This can increase animosity and make reaching agreements even more difficult.

Why You Should Take Control from the Start?

Rather than resigning yourself to a slow, painful divorce, you can take proactive steps to move the process along. By taking charge from the very beginning, you can avoid unnecessary delays and reach resolution faster.

When you take control, you can set the pace and timeline for negotiations and agreements. You don’t have to wait around for your lawyer or spouse’s lawyer to take action. You can create momentum to finalise the key issues efficiently.

Taking charge early also reduces costs in the long run. The sooner you can reach agreements, the less you’ll have to pay in legal fees over time. And it allows you to move on with your life sooner rather than remaining stuck in divorce limbo.

Take a Proactive Approach

Seek Amicable Separation Before Involving Lawyers

One proactive step is to discuss amicable separation terms with your former partner before getting lawyers involved. See if you can mutually agree on central issues like asset division, spousal support, child custody arrangements, etc.

Bringing in lawyers too early can set an adversarial tone that makes compromise difficult. By starting off collaboratively, you lay the groundwork for quick negotiations down the road.

Make a Sensible Financial Offer Quickly

Shortly after consulting your lawyer, take the initiative to make a sensible financial offer for settlement. Don’t let your lawyer drag their feet in making an initial offer. Putting a reasonable offer on the table early catalyses serious negotiations.

If your initial offer is fair and thoughtful, your spouse will likely make a counteroffer, moving talks forward. Don’t wait weeks or months to get the ball rolling – taking control means making an opening offer right away. In turn – protecting your financial future.

Set Deadlines for Agreements

To keep forward momentum, set firm deadlines for reaching agreements at each stage of the divorce. For example, set a two-week deadline to agree on asset division, then a one-month deadline for spousal and child support.

Setting ambitious but doable deadlines applies constructive pressure to finalise key agreements. It shows you are serious about efficient progress and avoid stalling tactics.

Prioritise Compromise and Collaboration

Mediation and Collaborative Divorce

To expedite your divorce, make compromise and collaboration priorities from the start. Consider alternatives to litigation like mediation or collaborative divorce.

In mediation, you work with a neutral third party to discuss issues and reach agreements. The mediator facilitates communication and helps you find common ground.

Collaborative divorce takes a team approach, with you, your spouse, and both lawyers committing to settle out of court. Everyone works together transparently to reach a fair resolution.

Both options lead to quicker, more amicable outcomes than prolonged litigation. They keep communication open and solution-focused.

Find Mutual Solutions With Your Ex

Even without formal mediation, look for areas of compromise with your former partner. Identify priorities on both sides and see where you can find the middle ground.

Listen sincerely to your spouse’s perspective and desires for the divorce settlement. Be willing to bend on less critical points to build goodwill.

Compromising requires setting aside anger about the past. Focus on pragmatic solutions that let you both emerge from the divorce feeling heard and respected.

Keep Communication Respectful

Amicable communication is essential for quick compromise. Always interact calmly and respectfully with your ex during the divorce process, even when tensions run high.

Name-calling, passive aggression, or dredging up past grievances will only delay progress. Maintain composure and stick to current issues. Your tone can have a big impact on facilitating agreements.

Move Forward Quickly

Don’t Let Lawyers Slow Things Down

Once you have lawyers, don’t let them dictate an overly languid pace. Convey your desire to move efficiently towards settlement. Push them to review agreements quickly and keep things moving forward.

If your lawyer seems prone to unnecessary delays, consider finding one more aligned with your goal of expediency. Look for lawyers experienced in mediation and collaborative divorce.

Lighten the Mood During Negotiations

During challenging negotiations, inject some levity and warmth when appropriate. This can ease tensions when talks get stuck. A little humour and friendliness can go a long way.

When things get tense, suggest taking a short break to clear heads. Bringing the tension down will help lead to positive outcomes faster.

Finalise Agreements to Avoid Delays

As you reach agreements in principle, move promptly to finalise the specifics in writing. Don’t let critical points languish without documentation.

Follow up diligently on any open items or next steps discussed. Don’t allow yourselves to backslide on progress made. Keep the momentum going strong until every aspect of the divorce settlement is formally concluded.

Final Thoughts

By taking proactive control of your divorce from the very beginning, you can minimise delays and reach resolution faster. This saves time, money, and emotional energy.

Setting the pace, compromising quickly, and finalising agreements promptly leads to an efficient and amicable process. You deserve a quick and painless divorce so you can move forward with your life on your own terms.

Click here for more articles by Chris Sweetman

About Chris Sweetman

Chris Sweetman is an independent family solicitor and director of Fair Result – An award-winning law firm who pride themselves on using innovative ways to help clients through the stress and complications of a marriage breakdown.

Chris can be contacted at 07500933818 or via email chris@fair-result.co.uk.

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High-Profile Divorces: Putting Children's Interests First.
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High-Profile Divorces: Putting Children’s Interests First

Published on
Chris Sweetman
Chris Sweetman,
Director
Fair Results

In the world of celebrity divorces, the headlines are often filled with drama, intrigue, and sensationalism. Recently, the media has been buzzing about the divorce of Sophie Turner and Joe Jonas, with the spotlight shining brightly on their high-profile breakup. While the public’s fascination with such cases is understandable, it’s crucial to remember the real people at the heart of these stories: the children.

Today, Chris Sweetman, Director at Fair Result, responds to the Daily Mail’s latest article and aptly points out, “They should both realise the children’s interests come first and focus on that rather than showboating for the world’s press to score points off each other.”

In the midst of their separation, Joe filed for divorce in Florida in early September, aiming to ensure the case is heard under Florida state law, which favours equal time-sharing arrangements for parents in child custody cases. However, this move has ignited a broader conversation about the challenges high-profile divorces pose for children. But what should celebrities be looking out for?

Prioritising Children’s Wellbeing

Divorce is undoubtedly challenging, and it becomes even more complex when it’s played out in the public eye. Children caught in the midst of a high-profile divorce can face unique and sometimes overwhelming challenges. It’s essential for both parents to remember that their primary responsibility is to safeguard the emotional and psychological wellbeing of their children.

Private Matters, Public Impact

While celebrities may be accustomed to living their lives in the public eye, the impact of a high-profile divorce on children remains the same. Constant media scrutiny, public opinion, and the potential for one-upmanship in the press can add tremendous stress to an already difficult situation. Shielding children from this unnecessary exposure should be a top priority.

The Role of Mediation

In high-profile divorces, involving a skilled mediator can be a game-changer. Mediation offers a confidential and structured environment where both parties can discuss issues related to their divorce, including child custody and support, without the added pressure of public scrutiny. It promotes cooperation and problem-solving, which ultimately benefits the children.

Final Thoughts

In the midst of the Sophie Turner and Joe Jonas saga and similar high-profile divorces, it’s essential to remember the children’s interests. Sophie’s determination to protect her children’s connection to the UK is understandable. Her life and work are here, and the girls have a foundation in the UK. Joe should return their passports, allowing the children to settle into a life both parents once believed was best for them.

The path forward should prioritise co-parenting, with options for school holidays and visits in the United States. Recent developments indicate a temporary ceasefire, with both parents agreeing to keep their children in New York State for now.

The bitterness surrounding this situation has led many to rally behind Sophie, as women, in particular, speak out in her favour. It’s a powerful reminder that, in high-profile divorces, the court of public opinion often leans toward protecting the wellbeing of the children involved.

Amidst the turmoil, it’s essential for Joe and Sophie to remember that their daughters’ happiness and security should guide their decisions, not the desire to win a public relations battle. For the sake of their daughters,’ it’s time to prioritise co-parenting, cooperation, and their best interests.

While the media may continue to sensationalise these stories, it’s crucial for parents and society at large to continue to emphasise the wellbeing of the children involved. Remember, we must put the children first and avoid using divorce proceedings as a public spectacle for personal gain.

Read more articles by Chris Sweetman.

About Chris Sweetman

Chris Sweetman is an independent family solicitor and director of Fair Result – An award-winning law office who pride themselves on using innovative ways to help clients through the stress and complications of a marriage break down.

Chris can be contacted on 07500933818 or via email chris@fair-result.co.uk.

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Unlocking Success in Divorce: The Equation for Peaceful Resolutions
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Unlocking Success in Divorce: The Equation for Peaceful Resolutions

Published on

Pace (p) x Momentum2 (m2) – Process (pr) = Success

Divorce, much like any business transaction, involves a delicate blend of emotions and strategies. While the emotional landscape might differ, the underlying principles of pace, momentum, and process remain pivotal, just as they are in business acquisitions, separations, or disputes.

Having delved into numerous business activities and handling over 100 divorce cases in the last three years, my experience highlights the significant role of process (pr) in determining the fate of any divorce. Unfortunately, process often becomes a hindrance, leading to frustration.

Many legal practitioners tend to focus solely on process, often disregarding the mounting stress that clients and families bear. It’s not uncommon that our caseload includes individuals who have grown weary of the inactivity of their lawyers, leading to a less-than-satisfactory outcome. An illustration of this occurred in August when numerous lawyers were seemingly inaccessible with their ‘out of office’ messages, reflecting a lack of commitment to the very clients they serve. This business of law is, after all, a service, with clients investing real money from their pockets. In contrast, at Fair Result, we operate round the clock, maintaining dedicated WhatsApp groups for each client to ensure seamless communication.

The distinction between pace (p) and momentum (m2) is essential. While pace refers to the movement forward, momentum signifies the ongoing drive to achieve a result. Consistent advancement, irrespective of the speed, is the crux of success. Any slowdown in pace disrupts the momentum, resulting in increased costs and delayed settlements. Particularly, financial settlements demand focused attention and steady momentum. However, this is impeded when legal advisors perpetuate delays or lack responsiveness.

Notably, Fair Result stands apart in offering an absolute fixed fee for our services, ensuring transparency and client-centricity. It’s akin to building a house extension; no one employs hourly rates for such endeavours. I assert that the technicalities and challenges faced in constructing a house extension are no less intricate than those encountered in a divorce.

Momentum (m) is the secret sauce of success. It’s this continuous driving force that propels us toward favourable resolutions. While client participation is essential, the onus of momentum lies primarily with us, your advisors. Hence, when selecting divorce solicitors, the initial conversation holds immense weight. Rather than fixating solely on the divorce process, focus on where your settlement might culminate. Ask how they plan to seize control and foster momentum in your case.

So, if we encapsulate it as p x m2 – pr = success, it becomes evident why Fair Result stands out as the global innovators in the family law sector.

Reach out to us at 0333 577 7009 for an informal chat. Experience our commitment firsthand, available to you 24/7! One of our current clients sums it up perfectly, “Fair Result’s team is incredible. Amidst their busy client roster, they make me feel like their priority. They drive the process relentlessly. In contrast, my wife’s lawyers are sluggish, overlooking key aspects like property valuations, causing unnecessary stress. Fair Result’s responsiveness is unmatched.”

Read more articles by Fair Result.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

You might be interested in

The Escalating cost of Mortgages – How it impacts on Divorce in 2023.
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The Escalating Cost of Mortgages & Its Impact on Divorce in 2023

Published on
Peter Marples
Peter Marples
Director
Fair Result

One of the largest components of any divorce is the issue of the family home. With over 1/3 of all households having a mortgage, and many divorcees also having the odd rental property or two – the case of mortgages is always high on the agenda in any divorce.

Whilst a large majority of people are on fixed rates, a more significant number than you think are on interest only – meaning many of these deals are coming to an end shortly.

For those of you who have secured a divorce financial settlement with your partner committed to making the mortgage payments into the future, the cost of living squeeze will almost certainly be biting – with the risk and fear of default against the order that you may have agreed to.

As we face a long period of high-interest rates, the ability of spouses to continue to pay mortgages will almost certainly become a bigger issue to contend with in a divorce scenario. With a significant number of divorcees being based on ‘need’, the balancing of resources to meet that need means that flexibility on both sides has to be the basis of any settlement. Whilst a spouse may wish to remain in the family home for the stability of the children, if the former husband (or wife) simply cannot afford to pay the mortgage and house themselves then something has to give. It is not a scenario anyone wants but one that is becoming all too familiar and common in the work we do in divorce.

So, some simple tips and advice for those of you facing this dilemma, either in the process of divorce or facing a default in an existing order:

  • Remain flexible and understand that there is only so much available to make all the necessary commitments
  • Make sure that any divorce settlements enable you to maximise Government support in terms of universal credit and other support systems
  • Discuss with your mortgage company the option of converting to interest only – particularly if you are committed to the long term
  • Don’t jump at selling the family home – almost certainly the cost of a new mortgage will be more than the cost of your existing home in the medium term
  • Remember the days of cheap mortgages are gone forever – so budget that rates will be at least 4% in the medium term and the impact this is going to have on your divorce settlement and your cost of living.

As always, the team at Fair-Result are here to discuss with you your options and a way forward. We specialise in achieving pragmatic and fair solutions to divorce scenarios, focussing on what is achievable both in the short term and looking to the future.

Feel free to contact Pete or Chris for an informal, free-of-charge initial discussion. Remember we are the only fixed fee divorce service in the UK focussing on financial settlement with nothing to pay until the end of the process.

Read more articles by Peter Marples.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

You might be interested in

Step-by-Step Process to No-Fault Divorce in the UK
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Step-By-Step Guide to No-Fault Divorce in the UK

Published on
Chris Sweetman
Chris Sweetman
Director
Fair Results

A No-Fault Divorce is a legal procedure that enables a married couple to end their union without having to establish that one partner was at fault for the marriage’s dissolution. Therefore, neither spouse is required to present proof of infidelity, abandonment, or any other type of marital impropriety.

Understanding the no-fault divorce procedure is important for a number of reasons. For starters, it can dramatically minimise the mental stress and turmoil that is sometimes associated with divorce processes. Couples can focus on addressing issues without having to assign blame. Secondly, it can speed up the divorce process by eliminating the need for long investigations or trials to determine fault. Finally, it allows spouses to keep a sense of discretion regarding the reasons for their divorce, which can benefit all parties involved, particularly children.

Understanding No-Fault Divorce

A no-fault divorce is one in which neither spouse is legally obliged to show that the other is to blame for the dissolution of the marriage. Contrast this with a fault-based divorce, when one side is blamed for bad behaviour like infidelity or abuse. In a no-fault divorce, the couple just needs to say that their union has irretrievably fallen apart and leave it at that.

No-fault divorce, in the history of British family law, is a relatively new idea – coming into effect on 6th April 2022. Societal developments and shifting attitudes regarding marriage resulted in adjustments to divorce laws.

There are various advantages to a no-fault divorce:

  • Reduced Conflict: Not having to prove fault decreases conflict and stress between the parties, which is especially advantageous when children are involved.
  • Faster Procedure: Because there is no requirement for investigations or proof of fault, the divorce process can be expedited.
  • Privacy: Couples can keep their divorce grounds private, which can be less detrimental to their reputations and personal lives.
  • Emotional Well-being: The lessened conflict and accelerated process can benefit both parties and the emotional well-being of any children involved.

Eligibility Criteria

Before you petition for a no-fault divorce in the United Kingdom, you must first grasp the eligibility requirements. This section will walk you through the steps necessary to proceed with a no-fault divorce.

Residency Requirements

In order to petition for divorce in the United Kingdom, at least one spouse must be:

  • Resident in England or Wales, or
  • Domiciled in England or Wales if you are living abroad.

Duration of Marriage

Before you may apply for a divorce in the UK, you must have been married for at least one year.

Mutual Agreement

While mutual consent is not required for no-fault divorce, it can make the process go more smoothly. It might speed up the procedure if both parties agree that the marriage has irreparably broken down.

Grounds for No-Fault Divorce

The sole foundation for a no-fault divorce is that the marriage has irretrievably broken down. However, you are not required to present proof of any misconduct. It is sufficient to indicate that you and your spouse have disagreements that cannot be resolved.

Preparing for the Divorce Process

It is critical to be well-prepared before beginning the process of filing for a no-fault divorce. This section will walk you through the measures you should take to prepare for divorce.

Gathering Necessary Documents

Begin by gathering all of the paperwork you will require during the divorce procedure. These are some examples:

  • Marriage certificate
  • Financial documents (bank statements, tax returns, etc.)
  • Property deeds and mortgage statements
  • Documents related to any debts
  • Pension statements

Seeking Legal Advice

Even in a no-fault divorce, it is important to get legal counsel. A solicitor can assist you in navigating the process, advising you on your rights, and negotiating divorce financial settlements and child custody agreements.

Understanding the Financial Implications

Divorce can have a big impact on your finances. It’s crucial to:

  • Analyse your present financial status.
  • Recognise the costs associated with the divorce procedure.
  • Think about how your debts and assets will be allocated.
  • Make financial preparations for life after divorce.

Considering the Impact on Children and Family

If you have any children, their welfare should be your first priority. Think about how you can lessen the effect of the divorce on them. This can include:

  • Discussing the divorce with your children in an age-appropriate way
  • Making plans for their future residence
  • Ensuring that both parents are available to them
  • Taking into account their emotional needs and, if necessary, seeking counselling

Setting Realistic Expectations

Setting reasonable expectations for the divorce process is critical. Recognise that it can be both time-consuming and emotionally draining. Prepare to negotiate and potentially make compromises.

Creating a Support System

Having a support network in place can be quite beneficial during the divorce process. This could include:

  • Friends and family
  • Support groups
  • Counselling or therapy
  • Legal and financial advisors

Step-by-Step Guide to Filing for No-Fault Divorce

When you are ready, you can begin the process of filing for a no-fault divorce. Here is the divorce process flowchart & a step-by-step guide:

The Divorce Process, Step-by-Step
Divorce process breakdown flowchart.

Step 1: Preliminary Considerations and Preparations

Before filing, make sure you’ve thought about the consequences and are prepared, as outlined in the ‘Preparing for the Divorce Process’ section.

Step 2: Filing the Divorce Application

The ‘petitioner’ is the one who initiates the divorce. The petitioner must fill out a D8 divorce application form, which can be done online or by mail. You will state that the marriage has irretrievably broken down in a no-fault divorce.

Step 3: Serving the Divorce Papers to the Other Party

The other spouse, referred to as the “respondent,” must be served with the divorce papers after the application has been submitted. A copy of the application and a response form will be sent to them.

Step 4: Responding to the Divorce Application

Eight days are given for the respondent to respond to the divorce petition. They can accept the divorce or they can object to it. If they concur, the divorce is regarded as uncontested. If they can’t agree, it will be a defended divorce, which might make things more difficult.

Step 5: Negotiating Settlements and Agreements

Financial settlements, property division, and, if applicable, child custody and support, must all be agreed upon by both parties. You can accomplish this through mediation or a lawyer.

Step 6: Applying for the Decree Nisi

The petitioner may submit a decree nisi application after agreements have been reached. According to this document, there is no legal reason why you can’t get a divorce.

Step 7: Applying for the Decree Absolute

The petitioner may apply for the decree absolute six weeks after receiving the decree nisi. The marriage has been legally ended by this document. The divorce is finalised after this is granted.

Note: Attending Court Hearings (if necessary)

You might need to appear in court proceedings if the divorce is disputed or if there are problems that cannot be settled through discussion.

Post-Divorce Considerations

After the divorce is official, there are a number of things to think about and actions to take to begin your new life successfully.

Financial Planning After Divorce

Following a divorce, your financial circumstances may drastically change. It is critical to:

  • Make a fresh budget that matches your current income and expenses.
  • Bank accounts, insurance policies, and other financial products should all be updated.
  • Consider consulting with a financial professional for advice on managing finances after a divorce.

Co-Parenting Arrangements

Co-parenting will be a significant part of your life after divorce if you have children. Here are some tips for successful co-parenting:

  • Discuss the children with your ex-spouse in an open and courteous manner.
  • Keep the best interests of the children in mind.
  • Be adaptable and willing to make concessions on timing and other difficulties.
  • Consider using co-parenting applications to organise schedules, communicate, and share child information.

Updating Legal Documents

After divorce, it’s important to amend legal documents, including:

  • Your will
  • Beneficiaries on insurance policies and retirement accounts
  • Emergency contacts
  • Any powers of attorney

Focusing on Personal Growth & Wellbeing

Make the most of this period by focusing on personal development and restoring your life.

  • Setting new goals for your career, personal life, and hobbies is one example.
  • Participating in activities that provide you joy and fulfilment.
  • Consider counselling or therapy to help you go through your emotions.

How Can Fair-Result Help you Deal with a No-Fault Divorce?

Overall, divorce proceedings are complex, covering legal procedures, emotional well-being, and huge life changes. Individuals can manage this shift more smoothly if they focus on preparation, knowledge, and support. It is critical to approach the process with clarity and to seek the resources and assistance that are required.

And having the correct assistance and guidance is critical as you negotiate the difficulties of no-fault divorce. Fair-Result is here to help you get through this difficult period. So, if you require legal or financial assistance, feel free to contact our team.

More articles by Chris Sweetman.

About Chris Sweetman

Chris Sweetman is an independent family solicitor and director of Fair Result – An award-winning law office who pride themselves on using innovative ways to help clients through the stress and complications of a marriage break down.

Chris can be contacted on 07500933818 or via email chris@fair-result.co.uk.

You might be interested in

Perception is everything in a court process - being open is always the best option.
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Perception is Everything in a Court Process – Being Open is always the Best Option

Published on
Peter Marples
Peter Marples
Director
Fair Result

Whilst 80% of our cases never see a formal Court process in the context of a FDA, FDR or Final Hearing there are always a few where the Court get’s involved. Never the ones with the most assets to argue about but more often than not truth a total absence of trust between the two parties.

The further down a court process you go, not only is it more expensive but you start to lose control of the outcome. So our motto is always to endeavour to settle your finances without a Judge getting involved.

We have unfortunately been engaged recently in more and more complex cases – very complex, not because the issues are actually complex but because one or both parties decide they want to be economical with their answers to questions or simply don’t want to disclose matters which they believe they an ‘blag’ away and it will never become uncovered. Our job as professionals is to read our clients behaviours and whilst we will always follow instructions we are not frightened at challenging them. Why ? – because If they aren’t truthful or transparent with the information and documents they provide it is more often than not because they want to hide something. Unfortunately very few clients are able to do this and the risks to them are significant.

Judges are there to look at the characters in the case as much as the information in front of them. They inevitably form judgements and an initial perception is one that often sticks in the mind of the judge as easily as it does with us – whether it is our client or indeed the spouse in the case. The biggest risk to an equitable settlement when the Court gets involved is not the numbers themselves, it is how the Judge considers the parties in the matter, whether they come across as credible and honest or do they try and dodge the questions in disclosure. Faced with this perception – it is difficult to overcome and if negative be aware the Court may just find against you when they are formulating directions and ultimately in a final hearing the division of assets. Remember the principle that a claimant should not benefit from being less than honest or open in their dealings with the Court. If a judge considers this, they are perfectly within their rights to find in favour of the opposing party and you might be left with a settlement that is not at all satisfactory. You are then on the back foot as we often say.

So the motto is to be open – it is always the best option because in protracted proceedings, things will be found out and it is our role to probe and press on what we find to the benefit of our clients. Don’t let the Court form a perception of you as someone who is less than open because the likely result is a settled that will not be one you are happy with.

The best solution is to settle matters outside of the Court process. We are focussed on doing just that – that is why over 80% of our cases settle without Court intervention.

Read more articles by Fair Result.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

You might be interested in

10 Steps to Divorce Financial Settlement
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10 Steps to Divorce Financial Settlement

Published on
Peter Marples
Peter Marples
Director
Fair Result

Agreeing a financial settlement is a huge milestone during the negotiation process of a divorce. It is advised that separating couples obtain a financial order that sets out this settlement, as whilst this is not mandatory, it will make this agreement legally binding.

Some lucky couples can decide on how to divide up their assets, agreeing their financial settlement without the need of going to court. However, to ensure both parties are protected, and the agreement is legally binding, a solicitor can draft a ‘consent order’ that both parties must sign.

This is then sent to the court with a completed Form A (notice of your intention to proceed with an application for a financial order), a Form D81 (statement about the parties’ financial situation to support your application for a consent order), and a £53 fee (administration fee).

However, a lot of couples fail to agree on a divorce financial settlement, which means that the court will have to decide for them.

In most cases, the process will follow the ten steps highlighted below, however, an agreement can be made at any point during this process. If that is the case, then this is agreed and signed in a legally binding court order to confirm all the details.

Providing notice of application – Form A

To kick start the financial settlement process, you will need to send a completed Form A (notice of your intention to proceed with an application for a financial order) to the courts.

This document will outline the kind of financial order you are looking for, at what stage you are at with the divorce or dissolution of a civil partnership proceeding, contact details of the separating couple or legal representatives, and information about the Mediation Information and Assessment Meeting (MIAM).

First Directions Appointment date

Once you have provided your application, the court will then set a date for the First Directions Appointment (FDA). This is the first hearing in relation to your financial dispute arising from your divorce.

This is an opportunity for the judge to consider what information each party needs to provide to create the divorce financial settlement. Both parties are encouraged to reach an agreement if possible. If this cannot be agreed, a second hearing with the FDA will be arranged to allow for further negotiation.

Financial statement – Form E

Form E (Financial Statement) is an important document in the UK divorce process since it acts as the starting point for the financial settlement negotiations.

Both parties send the court a Form E at least five weeks before the FDA hearing. You must also send a copy to each other.

The purpose of this document is to ensure both parties disclose their financial circumstances, including income, assets, liabilities, and projected financial needs.

FDA documents

These documents are filed by both parties two weeks before the FDA:

  • A concise statement of issues.
  • A chronology of events.
  • A questionnaire which is supposed to address the statement of issues.
  • A Form G, whereby you tell the court whether the FDA meeting can be used for a Financial Dispute Resolution (FDR) appointment. Typically, the FDR meeting takes place after the FDA meeting.

Costs – Form H

At this stage, each party will send the court a completed Form H just before the FDA meeting, listing any costs they have incurred.

This document sets out all the costs of the financial remedy proceedings, including costs from before and after the application was issued.

FDA meeting at court

The judge will consider both you and your partner’s financial disclosures and establish whether further information is required from either of you.

Many judges are keen to see whether a resolution meeting (skip to the final hearing section) can take place at this stage. If not, a date is set for the FDR meeting.

File proposals

Both parties will answer questionnaires, prepare evidence, and submit proposals to the court for the divorce financial settlement.

Both sides also submit a second Form H, which lists updated costs.

FDR hearing

During this hearing, the judge will focus on encouraging both parties to agree on a financial settlement, through judge-led negotiations.

Most divorcing couples settle at this stage (or soon afterwards). If not, the judge will arrange a final hearing, where both parties will need to make new offers and provide evidence.

Further proposals

The negotiations continue between both parties, including revised proposals for the divorce financial settlement which are sent to the court and to the other party.

Final hearing

This is usually the third and final court hearing within the financial remedy process.

In the absence of any agreement and following the submission of updated costs on a Form H1, a new judge will decide on your financial position and impose a settlement on your behalf.

Summary

One of the most important parts of getting a divorce is reaching a financial settlement. Many couples can agree this without the need of going to court however, but a lot of separating partners find difficulty in achieving this.

Perhaps one person is not providing their financial information, or they are not making sensible proposals, in that case, court is advisable.

By following these simple steps and receiving professional advice, you will be on your way to a Fair Result and a happy, brighter future.

Do you require specialist expertise in securing financial settlement? Get in touch with our team today.

Read more articles by Fair Result.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

You might be interested in

The New Pension Rules and Divorce - Don't Leap too Soon
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The New Pension Rules and Divorce – Don’t Leap too Soon

Published on
Peter Marples
Peter Marples
Director
Fair Result

The recent announcement by the Chancellor to release the pension cap and the annual contribution limit was seen by many as a tax break for the rich.

However, the major beneficiaries of this change was those people in the Public Sector with Senior Roles such as Headteachers, Consultants, GP’s and Civil Servants, most of which are on either final salary or average salary pension schemes.

Why? Because many had already reached the maximum pension allowance and their marginal rate of income tax was becoming such a disadvantage that many had decided to retire.

So it is a good thing that you can add more to your pension fund and benefit from this in retirement – for many yes, but for those contemplating divorce or more particularly those that will be in receipt of a pension sharing order, the benefits are not so obvious.

With over 1/3 of the working population in the public sector, with the prevalence of final or average salary pension funds being prominent in the Public Sector it is not surprising in divorce that the pension is often the major element of the financial settlement.

The number of times we have seen, more often than not the wife in receipt of a large pension sharing order running to many hundreds of thousands of pounds is more common than you think. BUT, very few lawyers or even fewer pension advisors actually tell you that the devil really is in the detail of the pension funding rules themselves. We pride ourselves in giving fair advice to our clients and increasingly that advice is not to take a pension sharing order or at least to consider fully the implications of doing so. So let us pose a few questions, the answers for which might surprise you:

The value of my pension sharing order goes into my estate if I die early?

Nope – if you die, the vast majority of your pension sharing order is returned to the Chancellor of the Exchequer and your estate receives little or no benefit.

My pension is liquid and I can move it?

Nope – scheme rules are clear and different for each scheme. You cannot move funds in most schemes and they are certainly are not liquid. Contrast that with you taking a larger percentage of the family home in the divorce settlement and not a large pension sharing order. Your property is liquid, carries little risk and is yours to do what you want with

If I die before I can draw my pension then my will provides for the money to be distributed?

Nope – if you die before you can draw from the scheme, you get nothing. Just think if at 40 you took a £200,000 pension share and died at 55 – your divorce settlement in this case was not worth a great deal.

So I can draw my pension at 60 ?

Nope – all schemes have different rules. For example, the Fire Service pensions have three schemes and the earliest draw down for the annual pension in one of these schemes is 67 ! – yes 67.

Summary

So in summary, the new requirements allow more money to go into the pension which gives a larger part of any divorce pot being attributable to the pension itself. On face value, good news but unless you can get at it, then it is worth very little.

Each case is very different and needs to be considered, so but don’t just think a big pension sharing order means a great settlement. We would trade a pension for cash in a property NOW every day of the week because you just don’t know what might happen and with a property, you can leave it to your kids or even the RSPCA.

Read more articles by Fair Result.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

You might be interested in

A Guide to Financial Settlement in Divorce
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A Guide To Financial Settlement In Divorce

Published on
Chris Sweetman
Chris Sweetman
Director
Fair Results

One of the core parts of the divorce process is agreeing on a financial settlement. Especially now, with the introduction of no-fault divorce, it has become more straightforward to get divorced than ever.

However, you don’t want to be caught off guard by the future repercussions of a DIY divorce. Securing your financial future should be one of the main goals of any divorce. That’s why we’ve prepared a guide on the financial settlement.

In this article, Christ Sweetman from Fair Result is going to cover:

  • What is financial settlement?
  • What is included in the financial settlement?
  • How is child maintenance solved?
  • How can you prepare for the financial settlement?
  • Can you reach a financial settlement by yourself?
  • How does the court decide whether the settlement is fair?

What is financial settlement?

In simple terms, a financial settlement in divorce is an agreement between you and your ex-spouse on how to divide financial assets after the dissolution of your marriage or civil partnership.

The settlement can be decided on during any point of the divorce proceedings/civil partnership dissolution. Nevertheless, we would recommend signing a consent order before applying for the Final Order (formerly known as Decree Absolute).

The court usually isn’t involved until the legally binding consent order is signed – stating that both parties agree with the terms. Once the order is drafted & agreed upon, the court needs to approve it. Although, there may be exceptions when divorcees can’t agree between themselves, and the court will be required to intervene.

What is included in the financial settlement?

Matrimonial assets (financial assets acquired during the marriage) are divided as fairly as possible – the starting point of the negotiations is usually 50/50. Whilst non-matrimonial assets (financial assets acquired before the marriage) can be protected by a pre-nuptial agreement and may not get shared.

The financial settlement can include:

  • Money (investments, insurance policies, savings)
  • Property (houses, apartments, rental properties, and holiday homes)
  • Child maintenance
  • Household contents
  • Cars
  • Pension funds
  • Business interests
  • Personal items (over £500)
  • Debts, loans, and credit cards

Moreover, stay vary of the division of mortgages and debt that were accumulated throughout the marriage (otherwise known as matrimonial debt). Since matrimonial debt can be split between both parties as long as the loan was taken out for the benefit of both spouses.

How is child maintenance solved?

In its essence, both parents are legally required to support their children financially. Usually, the parent who doesn’t have regular care of the children – must pay child maintenance.

The maintenance must be paid if a child is:

  • under 16 years old
  • under 20 years old but in full-time non-advanced education (e.g., A-levels)
  • 16-17 years old, no longer in full-time education but has registered for work/training with a careers service.

An agreement can be reached between the spouses regarding children. Alternatively, the Child Maintenance Services can work out child maintenance instead. They will determine how much money needs to be paid to the parent whom the children live with. The decision is mainly based on income & financial commitments.

Additionally, if the spouse that needs to pay maintenance doesn’t live in the UK – an application can be made to the court for a child maintenance order.

How can you prepare for the financial settlement?

The best thing you can do to prepare for a financial settlement is to sort out your personal finances. As well as, roughly agreeing with your ex-spouse who continues to pay the bills and who gets what assets.

If you have any joint bank accounts, matrimonial debt, or credit cards – contact your provider as soon as you can to let them know you’re going through a divorce. Also, make sure your salary or benefits go to a separate account that’s only in your name.

In cases where you can’t trust your ex to not spend money from a joint account, you can freeze your bank cards.

Furthermore, it’s important to evaluate your current finances as an individual and a couple. Make sure to take note of: what you own; how much you owe to each other; what a potential split in assets would look like. Lastly, you should figure out how will the pensions be split.

Can you reach a financial settlement by yourself?

If you’re living in England or Wales – reaching a financial settlement in divorce by yourself is an option. This would come in a form of the consent order, which is a legally binding document that outlines the division of assets & child maintenance.

Once the order is drafted & signed, you’ll need to send copies to the court asking for final approval. This costs £53. Although, to guarantee that your consent order is legally binding you should hire a solicitor.

It’s not recommended to draft your own consent order under normal circumstances. But it’s especially important to hire a solicitor if your financial situation is complex (e.g., you’ve multiple business or property assets), you’ve been married for a long period, or communication has broken down between you and your ex.

Reaching a consent order outside the court can not only speed up your divorce process but also reduce costs. As long as the court thinks the order is fair – it will get approved without any additional court hearings.

How does the court decide whether the settlement is fair?

The court follows the guidelines set out in section 25 of the Matrimonial Causes Act to rule on the division of assets. These include:

  • Existing and future financial assets – the considerations begin with complete financial asset disclosure by both parties. Then the existing assets are evaluated, including how earning potential may change in the future.
  • Current and future financial needs – similarly to future potential earnings, the court evaluates the financial needs of both spouses. Fundamentally, the court looks at moving/re-housing costs and which party will be the primary caretaker of the children. Both parties will also be asked to provide estimated expenses to help with the ruling.
  • Standard of living before the divorce – the court tries to sustain the same standards of living, as before the divorce, for both parties. Although, this is rarely achievable, and a more likely scenario is that both spouses’ standard of living falls.
  • The age of the spouses & marriage duration – in situations where the marriage is short, financial contributions made before the marriage become more important. Whilst if the marriage is long and both spouses are older earning potential, childcare, and pensions suddenly become more important.
  • Spouses’ physical and mental health – this isn’t a common factor during considerations. But when it’s applicable the court will ask for a medical professional to provide evidence.
  • Contributions made for the benefit of the family – this tends to be a highly contested point during the financial settlement. As the Matrimonial Causes Act outlines any contributions made to looking after the home or caring for the family count. So, for example, if one spouse works, while the other takes care of the children – they would be considered equal contributors. On the other hand, things can get more complicated if one spouse brought in high-value assets into the marriage, received an inheritance, or accumulated substantial wealth after separation. In cases like these, the court will consider additional factors.

Final thoughts

Overall, having a signed and approved consent order is the first step you need to take to secure your financial future after divorce. To ensure that you won’t face any negative repercussions after the divorce – hiring a solicitor, to help you with your financial settlement, could be your best choice.

Click here for more articles from Fair Results

About Chris Sweetman

Chris Sweetman is an independent family solicitor and director of Fair Result – An award-winning law office who pride themselves on using innovative ways to help clients through the stress and complications of a marriage break down.

Chris can be contacted on 07500933818 or via email chris@fair-result.co.uk.

You might be interested in

How Long Does It Take to Get Divorced and Where Do I Start?
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How Long Does It Take to Get Divorced and Where Do I Start?

Published on
Chris Sweetman
Chris Sweetman
Director
Fair Results

When considering divorce the first question people often ask themselves is “how long will it take and where do I start?”

Whilst this will most likely be one of the most stressful periods of your life, with very sensible and practical considerations, you can begin a new, and much happier chapter in your life.

In today’s article, Chris Sweetman will be answering those questions and helping you understand how to initiate divorce proceedings.

No-Fault Divorce and the impact on the divorce process

Since April 2022, the whole idea of blame has been removed from divorce. Unreasonable behaviour, length of separation and adultery are all things in the past of acrimonious divorces.

Now, the process has been made much simpler so the separating parties can focus on the most important part of the divorce, including sorting out the finances and ensuring any children are still the number one focus between separating parents.

So now blame has gone, the new process allows for both parties to agree that the marriage has broken down and apply jointly for the divorce – you can still make a solo application if you want, but the new process allows for both.

Whether you apply jointly or individually, the time scales for the divorce process is the same – which takes a minimum of 26 weeks from the date of application to the final order being granted by the court service and your marriage being formally dissolved.

What is the process for divorce?

The process starts with an application, now done online, to the HMCTS Court Service portal. The court receives the application and then issues a notice to the parties for them to acknowledge the divorce process has been commenced.

Once the court is satisfied and both parties are aware the divorce has been applied for, the case must go into a 20-week holding period before a conditional order can be applied for. The thinking behind this is to give the couple one last chance to have a period to reflect on whether they do want to finally end the marriage. In all my years of being involved with the law, I have never come across a couple who in this holding period (in the new regime or previously between Nisi and Absolute) who decide they have fallen back in love again and decide to pull out of the divorce process – but the option is there at this stage.

This 20-week period should be used to effectively sort out financial arrangements and plans for the children. In simple cases, this timetable can often be kept to, but where family finances are a little more complicated and need further investigation, the timetable may slip until all matters are fully resolved.

From experience, the newly drafted divorce process should have been firmer when changing the law last year and say this 20-week period is fixed and all divorces must be concluded within the timetable. My thinking for this is that the flexibility on this period still allows lawyers to drag their feet which only has the impact of driving up costs for clients.

My preference would have been for family finances to have been resolved and then the divorce applied for. Focus the lawyers on resolving the finances quickly and efficiently and then proceed with the divorce.

Once the 20-week period has elapsed, the parties can apply for the conditional, order of divorce which is the beginning of the end road to divorce. The conditional order is granted by the court service and then another 6-week holding period is entered into before the Final order can be applied for dissolving the marriage.

Once the Final order is issued by the court and again this can be applied for online, the marriage is over, and parties are free to get on with the rest of their lives however they wish to.

Final thoughts

So now you know the process of a divorce and the steps you need to take.

You can certainly apply for a divorce yourself – it’s a relatively straightforward process online. But what you need to do, is take some expert advice about the implications of divorce on your children and the division of your marital finances. The divorce process is simple, sorting out life’s complications’ can be more difficult.

Ensure all issues surrounding the division of finances are sorted before the Final Order for divorce is granted, as once this is granted resolving the distribution of marital assets can be more complicated.

Do not forget to talk to an independent lawyer who can provide you with expert advice on all your rights, as they can provide you with guidance on the way the law looks to distribute financial assets and how the court would look to deal with disputed plans for the children.

Most importantly, work with your ex-partner to resolve all matters as amicably as possible – as it will save both parties time, money, and heartache.

Work with your ex-partners lawyers if they have them in a collaborative way to avoid stress and conflict. And be realistic about what you want to achieve in the whole divorce process.

Click here for more articles from Fair Results

About Chris Sweetman

Chris Sweetman is an independent family solicitor and director of Fair Result – An award-winning law office who pride themselves on using innovative ways to help clients through the stress and complications of a marriage break down.

Chris can be contacted on 07500933818 or via email chris@fair-result.co.uk.

You might be interested in

The latest updates on the Capital Gains Tax Legislation UK.
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Capital Gains Tax Changes 2023 – What to Expect

Published on
Peter Marples
Peter Marples
Director of Fair Result

On the 20th of July 2022, the government announced their plans to change the rules that apply to the transfer of assets between spouses and civil partners who are in the process of separating. The changes will be in effect from the 6th of April 2023.

The new Capital Gains Tax (CGT) measure aims to make the process fairer for those who are separating or divorcing and are in the process of distributing assets.

This article will provide detail about the CGT measure, the proposed changes, and its impact.

What is the Capital Gains Tax measure, in relation to separation and divorce?

This measure makes changes to the rules that apply to transfers of assets between separating spouses and civil partners. It gives the individuals up to three years to make no gain / no loss transfers of assets between themselves, when they cease to live together and unlimited time if the assets are in the process of a formal divorce agreement.

In addition, the measure introduces special rules which applies to individuals who have maintained a financial interest in their former family home, following a separation, and this applies when that home is eventually sold.

The objective of the measure is to make the CGT rules fairer for spouses and civil partners who are in the process of separating. It gives them more time to transfer assets between themselves without incurring a large CGT bill.

The proposed changes to Capital Gains Tax

A background to the proposed changes

The Office of Tax Simplification (OTS) highlighted in its second Capital Gains Tax report in 2021 that “the government should extend the ‘no gain no loss’ window on separation to the later of:

  • The end of the tax year at least two years after the separation event.
  • Any reasonable time set for the transfer of assets in accordance with financial agreement approved by a court or equivalent processes in Scotland.”

The government responded to this on the 30th of November 2021 and agreed that the ‘no gain no loss’ window on divorce and separation should be extended.

The proposal

The legislation will be introduced in the Spring Finance Bill 2023, which will provide the following:

  • Separating spouses or civil partners to be given up to three years after the year they cease to live together in which to make no gain / no loss transfers.
  • The no gain / no loss treatment to also be applied to assets that separating spouses or civil partners transfer between themselves during the formal divorce agreement.
  • A spouse or civil partner who maintains an interest in the former matrimonial home to be given an option to claim private residence relief (PRR) when the property is sold.
  • Individuals who have transferred their interest in the former matrimonial home to their ex-spouse or civil partner and are entitled to receive a percentage of the proceeds when the property is eventually sold, be able to apply for the same tax treatment to those proceeds when received that applied when they transferred their original interest in the property to their ex-spouse or civil partner.

What is the impact of these changes?

The latest measure will make it fairer for spouses who are going through divorce or separation and are in the process of distributing assets between themselves.

This measure is anticipated to create a positive impact on individuals, by extending the period of time available to give separating couples at least three years to make a no gain / no loss transfer between themselves for CGT purposes. It will especially benefit those who are involved with more complex proceedings, as it means that more time can be spent on the divorce proceedings and other considerations, rather than CGT.

In addition, the extension will help avoid further reduction of household income or existing accumulated household wealth through dry tax charges for those who meet the new time period. There will also be similar benefits for those who are transferring assets between themselves that are listed in a divorce or separation agreement.

Summary

As announced in July 2022, the government will be making changes to the rules that apply to the transfer of assets between spouses and civil partners who are in the process of separating. The anticipated impact of the CGT changes is meant to be positive, as it makes the separating / divorcing process fairer and provides additional time to make a no gain / no loss transfer. The changes will take effect for disposals made on or after the 6th of April 2023.

About Peter Marples

Peter Marples – Director of Fair Result and qualified accountant, with the determination to change the way divorce is transacted. For further advice on financial settlements and navigating divorce, use the contact details below:

  • Email
  • Give the team a call – 07500933818 or 0333 577 7009
  • Complete an enquiry form

You might be interested in

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