The financial duties and tasks of a Solicitor during a divorce
There is more to it than just two people separating or parting their ways when a divorce happens. One of the most crucial factors during a divorce is the fair settlement of finances and property. A Solicitor plays a massive role in representing your case in court. Hence understanding the duties and tasks of a Solicitor during a divorce is essential.
Here in this article, we will highlight and cover vital aspects of a Solicitor’s role during a divorce.
Divorce – A Solicitor’s role
There are two main aspects of a divorce – the entire divorce process and settlements of finances (financial remedy) and children (if there are any).
Unless a divorce occurs by mutual consent, you may wish to appoint a Solicitor to represent you. For example, if you are unable to progress your divorce as your partner is being uncooperative or cannot be located.
A Solicitor’s role in dealing with financial remedy proceedings within divorce
The emotional stress of witnessing the breakdown of a marriage may hamper your ability to make sensible and pragmatic decisions in relation to the matrimonial finances and children.
Financial decisions do not only involve a split in savings, they include the joint properties you own, the collective/individual savings, and businesses and other assets. Moreover, all of these need to come under the process of a fair settlement based on your circumstances in accordance with the law and in particular the Matrimonial Causes Act 1984.
With so many things at stake another hindrance commonly seen in divorcing couples is coming to a joint agreement for financial settlement. Here is where a Solicitor comes into play, offering the best legal advice and helping you make the best decision especially where there are acrimonious disputes.
The drawback to not having a Solicitor in a divorce case is that you could run into the following risks:
- Financial risks – You could miss out on some seemingly critical yet straightforward financial clauses when the Consent Order/Final Order uses financial jargon. By doing so, you fall under the threat of agreeing to some financial decisions where you may subsequently without your full knowledge and understanding suffer a more significant loss.
- Future risk – The agreements you make on the financial clauses without fully understanding will directly influence your future circumstances. It could put you in a vulnerable spot, where financial settlements may not be fair or meet your needs based on your circumstances.
How does a Solicitor ensure fair and reasonable financial settlement during a divorce?
1. Foresee issues beyond the divorce
One of the main advantages a professional Family Law Solicitor brings to the table is experience. With that, they can foresee possible outcomes suitable for you and also that may be to your detriment and advise you accordingly.
That also includes examining and finding out if the other partner is hiding any liabilities/assets. It ensures that there is a fairer financial division between the two divorcing couples.
2. Legal rights and advice according to the Law
The other crucial benefit in a divorce settlement is legal advice by the Solicitor that incorporates their legal knowledge in assisting you in reaching a decision regarding the matrimonial finances that is fair and reasonable in respect of your circumstances and in accordance with the Law.
The Consent Order/Final Order for financial settlement is a legally binding document once this has been approved by the Court. Hence it is vital to seek the legal advice of your Solicitor so that you do not agree to any vulnerable financial decisions.