You and your ex will have some huge long term financial decisions but also some you may need to make very quickly.
In the immediate aftermath of a separation, it's best to try and keep your usual financial arrangements running. That way, things are kept stable and you hopefully avoid getting into debt. Things can be difficult though, especially if you or your ex has moved out and there are more household outgoings to pay. Ideally, you need to plan your finances together and agree as much as you can.
However, you may be concerned that your ex will simply stop supporting you or will sell, transfer or somehow get rid of money and property deliberately to prevent a fair financial settlement from being reached. Speed - and specialist legal advice - will protect yourself and your family.
The court has a range of powers to deal with this including:
- freezing injunctions which prevent your ex from dealing with their property, the ultimate punishment being prison if your ex ignores the injunction
- emergency maintenance (also called maintenance pending suit or MPS) if your ex is not financially supporting you and you are struggling to pay your day-to-day outgoings
- setting aside transfers of property that were deliberately made to undermine your financial claims
There are also a variety of applications that can be made to HM Land Registry to protect property.
We understand how distressing a divorce can be and how this can be exacerbated by financial difficulties early on. You need sensible, straightforward advice and you can be confident in our ability to deliver that. We have recently helped clients:
- negotiate emergency maintenance and the reinstatement of the usual financial arrangements until an overall deal could be reached
- we have obtained worldwide freezing injunctions to prevent assets from being sold, cashed in or transferred to someone else, helping to ensure that our clients received their fair share of the family's assets
- successfully set aside transfers of shareholdings made by majority shareholders
- advised trustees re-structuring trusts on the possibility of their plans
- successfully challenged freezing injunctions that had been wrongly made against our client