If your relationship has come to an end, or you would like advice on your position in the event of separation and divorce, we would suggest contacting us to arrange a meeting with one of the team.
At that meeting we would discuss the circumstances surrounding your separation and the concerns that you have, the financial matters arising from separation, issues regarding any children, and finally divorce, if that is your ultimate intention. We will explain to you how this process is likely to play out in the particular circumstances of your case, and give you an indication of the likely costs of proceeding, whether by way of negotiation or through the courts as required.
Finances and Divorce
Following separation, it is important to identify all assets and debts which were accumulated during the marriage and which are still owned at the date of separation (otherwise known as “matrimonial property”). There are some important exceptions to bear in mind when calculating the value of matrimonial property, which can have a significant bearing on what is included in the pot. Once the matrimonial property has been identified, we can advise you what a fair division of any assets would be in your particular circumstances.
If you have any concerns about matrimonial assets being sold, destroyed or otherwise utilised before they have been properly discussed and shared between you by agreement, please do contact us immediately. We can seek certain protective measures through the court to prevent the premature disposal of assets if required.
In addition to the division of assets between you, it may be the case that one party requires additional ongoing financial support from the other, and we will be able to discuss with you the circumstances in which such spousal maintenance would be due and the level which would be appropriate, whether you would be the person paying or receiving.
Minute of Agreement
Once all of the relevant information has been compiled, we will communicate with your partner/spouse, or their solicitor, with a view to reaching a settlement. If that is possible, the terms of any settlement regarding the division of assets will be formalised in what is known in Scots Law as a Minute of Agreement.
A Minute of Agreement is a binding contract between you and your partner/spouse, and can also be used to cover any arrangements that are agreed in relation to any children, whether that is in terms of arrangements for their care, school fees, child maintenance or indeed any other matter you may wish to include.