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Asset division for unmarried couples

Posted in Family & Divorce on 24th May 2022
How do assets get divided when I am unmarried? In recent years it has become popular for couples to live together for a long period without marrying. Additionally, more and more couples reside together, buy properties together and have children together without marrying. But what happens when the relationship breaks down? What rights do unmarried couples have? When a couple is married, there are rules as to how the assets in the marriage are to be divided between the couple. The courts take the stance that the assets acquired during the marriage...

No fault divorces

Posted in Family & Divorce on 18th Feb 2022
Separating couples will soon be able to obtain a divorce without having to blame each other for the breakdown of their marriage. In April 2022, the Divorce, Dissolution and Separation Act will come into play, introducing the new law on no fault divorce in the UK. This reform means that ‘fault’ and ‘blame’ will be removed from the divorce process. Current Position Under the current law, the only way for couples to obtain a divorce is to prove that their marriage has irretrievably broken down, and this has to be evidenced by one of the following...

Impact of COVID-19 on valuing the business...

Posted in Family & Divorce on 4th Feb 2022
The impact of COVID-19 and the pandemic has severely affected businesses. This has also caused great uncertainty in valuing businesses for the purposes of reaching a financial settlement. During financial remedy proceedings, both parties are required to provide full and frank disclosure of their financial circumstances by way of completing a Form E. The financial statement will detail each of the parties’ assets, liabilities, incomes and anticipated future needs. If a party owns a business, it may be necessary to value to the business if the valuation...
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