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Category: Family Law
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I am divorcing and I have to do my financial disclosure. I

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I am divorcing and I have to do my financial disclosure. I have a large amount of debt and few assets apart from the family home that I share with my ex. When the settlement is worked out will they take into account my debt? Also I know my ex has lied in his disclosure about savings he hasn't declared and also his business assetts and his car. What can I do about this? Also regarding my daughter, we have split 60/40 (60% to me) will this have any effect on how much of the marital assetss I get? Thanks Laura
JA: What steps have you taken? Have you filed any papers in family court?
Customer: not family court, just through a solicitor but nothing happened yet
JA: Family Court normally sits in a local County and Magistrates' Court. Do you know the location of the court? If not, what county do you live in?
Customer: nottingham uk
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: we have recieved the decree nisi, just been advised to sort finances before applying for decree absolute. my solicitor said we can try and sort the finances just through the disclosure but my ex is very difficult, a narcissist and not trust worthy so not sure we can.....
Good evening and thank you for your question. I'm a solicitor specialising in divorce, separation and children's matters so I'd be happy to offer some guidance. First and foremost, how old is your daughter? Secondly, how long have you been married? How much debt do you have? Thanks, J
Customer: replied 17 days ago.
My daughter is 4
Married 7 years, together 10
I have 25k debt
Customer: replied 17 days ago.
We agreed 60/40 split of child custody
Customer: replied 17 days ago.
I’m 60
Customer: replied 17 days ago.
Sorry I can’t talk now my daughter is here and will hear me
Hello again and thank you for the additional information. Don't worry - I can't take a call at this time of night anyway. It's a site generated pop up.
The starting point for any financial division is a 50:50 split of the matrimonial assets. This figure is adjusted based on various factors. The most important is dependent children and ensuring they have a roof over their head. After that, the length of the marriage is important. Other factors are respective ages, health, income differentials, pension provision, living standards, needs and fairness.Often, if a child spends more time with one parent (the prime carer), both parent and child will need a roof over their heads. This can mean one party remaining in the matrimonial home until the child gets to a certain age (11, 16 or 18 are regular cut off ages). After that, the house is sold and the parties receive their equity. Alternatively, the parties may sell the house but the prime carer may need more money from the sale to rehouse themselves.Debt can be personal or it can be joint. It depends upon the circumstances. You would need to have full financial disclosure to work out the responsibilities for the debt.
Customer: replied 17 days ago.
What about the money he’s hiding? That’s not even in the financial disclosure?
Should all assets go into consideration for the 50/50 split?
He drives two top of the range cars a Range Rover and Aston Martin but professes to earn 20 k a year…
Something not right there when I’m struggling and drive a c1
If you believe he's hiding savings, you should probably ask him to produce a full credit report in the fist instance. That can show the number of accounts an individual holds. Following his initial disclosure, you should prepare a questionnaire challenging his expenditures, lifestyle, etc. Ask for 12 months' statements of PayPal accounts. Ask for receipts and how he funded the cars. All of this information needs to come out.All matrimonial assets should be part of the pot for dividing between you. Over 10 years, you will have acquired quite a few assets and they will have grown in value.
Customer: replied 16 days ago.
That’s really helpful, thanks so much
Customer: replied 16 days ago.
Is this something that can be done by the solicitor? Or does this have to be done in court? I want to avoid court where possible because of the costs. Thanks
Hello again. All of the financial disclosure can be done through a solicitor. Yiu could also do it through a family mediator. Using mediation is cheaper than solicitors but both of you have to be committed to the process. If you suspect he'd be dishonest about the disclosure, using a solicitor would be the better option.
I trust that answers your questions. Please let me know if you need any further help. Kind regards, J
I trust that answers your questions. Please let me know if you need any further help. Kind regards, J
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Customer: replied 16 days ago.
that perfect thanks so much