Our legal advice and structured settlements take into account pragmatic financial planning so that the family assets and income (which may have to stretch to meet the demands of separate households) are managed in your best interests. Our team of family lawyers are familiar with financial planning issues and will identify and liaise with other third party professionals, such as accountants or pension actuaries to deliver this ‘one-stop’ approach.
It may be appropriate for us to refer you to a team of independent financial advisors such as Family Law Financial Planning who can offer you expert financial advice based on your personal circumstances.
Financial planning issues we can help with:
- Advising clients engaged to be married upon prenuptial and postnuptial agreements that protect assets individually brought into the marriage or acquired during the course of it. This is particularly relevant for second marriages;
- For prospective civil partners, we will advise upon the benefits of precivil and postcivil partnership agreements;
- For couples living together, we will advise upon Living Together Agreements that can deal with property rights, certain pension-related benefits and maintenance that otherwise are not addressed in English or Welsh law;
- Inheritances, particularly if substantial, received during the course of a marriage or civil partnership can constitute an asset giving rise to claims upon divorce or dissolution. Financial planning may, in certain circumstances, reduce the likelihood of this happening. The parents of children about to marry may want advice upon how any later gifts or inheritances will be dealt with in the event of a subsequent divorce. or dissolution;
- Tax advice and the timing or structure of financial settlements can be crucial and we can obtain this advice for you;
- Family companies can add a layer of complexity to legal proceedings when spouses or civil partners have a business relationship together as well as a personal one. We can assist in the practicalities of clarifying what is to happen, and how it can be efficiently and financially managed, in the event of relationship breakdown;
- Sensible planning and advice after the completion of settlements or court proceedings to protect against the loss of spousal or child maintenance upon the death of a maintenance payer;
- Accessing advice on Discretionary Trusts and general Will planning to protect, by way of example, assets intended for the children of a first or subsequent marriage or civil partnership from being subsumed within a divorce or dissolution settlement;
- Intervention proceedings, where for example, business partners or directors find the stability of a company or business entity potentially undermined by the claims of a fellow partner’s or director’s spouse within divorce proceedings.