“Ah, yes, divorce,” Robin Williams once mused, “from the Latin word meaning to rip out a man's genitals through his wallet.”
“I'm an excellent housekeeper. Every time I get a divorce, I keep the house.” — Zsa Zsa Gabor
"Mr. Smith, I have reviewed this case very carefully," the divorce court judge said, "and I've decided to give your wife £275 a week." "That's very fair, your honor," the husband said. "And every now and then I'll try and give her a few quid myself." — Unknown
Entertaining though they are, the above divorce jokes have one thing in common — a link between divorce and finances.
As the recession begins to bite and money worries increase more couples than ever are considering divorce or separation. Unemployment, bankruptcy and the decreasing value of savings and investments mean that the need to obtain specialist legal advice from an expert divorce lawyer is all the more crucial for clients seeking to protect their dwindling assets.
The marital home, for example, is usually a couple's greatest investment and yet a downturn in the property market and therefore a greater incidence of negative equity has meant that dividing the “pot” fairly whilst ensuring that both parties and any children have a suitable home is a complicated matter.
It is not unusual at the moment for divorce lawyers to be approached by middle-aged clients, both men and women, who upon separating, have been forced to move back to live with their parents. Another situation is arising where an estranged couple have found it impossible to sell their home or to obtain a mortgage individually and so they have been forced to modify their living arrangements, even resorting to subdividing their house into two properties, in order to enable them to live separately without having to sell.
For other clients though, the recession can be an opportunity to make a saving. It may make financial sense, for example, for a client to buy an ex-partner out of a property or business now, if this is possible, whilst house prices and business assets are at a lower value.
No matter what the circumstances, seeking out an experienced family solicitor able to provide a creative and cost effective solution is essential for any client suffering the stress of relationship breakdown.
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