Should you use a solicitor for your divorce?
If you and your husband are getting on well, or you have a limited budget, you might think it’s a good idea to want to sort the divorce yourself, without instructing a solicitor.
A DIY divorce will be cheaper than using a solicitor in the short term, but may infact be more expensive in the long run. If you do not know what share of the assets you are entitled to, or what would constitute a fair settlement you may end up agreeing to a lower figure than a solicitor would advise.
When emotions are running high it is often difficult to think rationally. This is where your solicitor’s advice and input will be invaluable. Also be aware that if there is an in balance of power in the relationship between you and your husband, that will probably lead to a settlement in favour of the party who is the stronger character.
Since the majority of my clients are women who do not deal with the finances on a regular basis, I believe it is big mistakes to go through divorce proceedings without having experienced professionals review your suggested settlement. Someone who will tell you whether they think it is the most appropriate settlement for you.
A financial planner will help you answer the question: “What sum of money do I need to be able to lead the life I want to lead after divorce without running out of money?” Agreeing a settlement is only ½ the picture. What you need to understand is what lifestyle that settlement will buy you.
The other important thing to be aware of is that even once you’re divorced, either party can come back to make a financial claim against the other, until the rights are dismissed by a court order. So, consider what would happen if you were to come in to a sizeable inheritance in the future or even a lottery win. If there is no Court Order in place your ex husband can come back and request to re-negotiate the divorce settlement based on current circumstances.
Until you have a Consent Order your finances have been deemed to not yet be finalised, and either party can return to court to reopen discussions at a later date. This right exists without any time limit.
Do not assume that using a solicitor will result in a long drawn out legal battle in Court. There are a number of routes you can use, other than court, to ensure the process can be as straightforward and cost effective as possible.
photo credit: flickr/age 3 141592
Read More
If you enjoyed this post, we recommend the following as additional reading.
Are you entitled to a fair share of the assets on divorce?
It’s not unusual that when there are children in the marriage that the wife earns less than the husband. She may be a stay at home mum or earn a lower income simply because she works fewer hours in order to be able to cover childcare. It’s also quite usual that if your family budget…
Dealing with a divorce through Christmas
Christmas is traditionally seen as the time we connect with family, and all come together to have a great time. All feelgood Christmas movies will always show a huge family from children through to parents, grandparents, aunts, uncles, cousins etc. sitting around a table laughing, joking and having huge fun. But what if you’re right…
What mortgage will you be offered following divorce?
Mothers who work part time or work in a low paid job to be able to fit their job around general child care, will often struggle after divorce to be eligible for any reasonable sized mortgage from a bank or building society. . Even if your partner has left the marital home and you have…