After Death Duties vs. Inheritance Tax: What’s the Difference?
When someone dies, it’s never easy for the family left behind. While they need to deal with their emotions, there are also financial and legal
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When looking to finalise a settlement, the Court must give first consideration to any children of the family as they will need accommodation during their minority and a comfortable lifestyle if at all possible.
The starting point is to look at an equal division of the wealth, but this is not always the case. Circumstances can shift the division, either way; this includes; factors such as inheritance, extra contributions, accumulations of wealth after separation and most importantly, each party’s needs.
After looking at the above, the Court considers the following:
• The duration of the marriage.
• The ages of the parties.
• The earning capacity of each party – both now and in the future.
• The accommodation needs of each party and any children.
• The monthly needs of each party and any children.
• Any physical or mental disabilities.
• Contributions made by each party to date or to be made in the future.
• The conduct of each party within proceedings.
The Courts also try to achieve a clean break wherever possible or limit any financial duties that one party should have to the other by imposing an order for a limited period of time. However, this is not always achieved.
For more information, please get in touch with us by using info@shortlands.co.uk or call us 02076299905 or book an initial online consultation.
Shortlands is a boutique family law firm with over 20 years of experience in dealing with the trials and tribulations of a divorce and all family law matters. As a result, we have become the first choice of family law specialists in London.
Our professional and highly experienced team of family lawyers can assist you in your legal matters with full respect, ensuring you maintain a private family life. For more extensive advice and information, please email info@shortlands.co.uk or call us 02076299905 or book an initial online consultation.
If the two of you can’t reach an agreement through negotiation, the court can decide what order should be made. The process involves several stages, including disclosure, hearings, and judicial assessment. We represent you throughout to ensure your case is presented clearly and effectively.
The first step is filing an application with the court, called a Form A. This sets the court timetable for financial proceedings and will result in a Financial Dispute Resolution (FDR) process, followed by a number of hearings. We complete all of the paperwork on your behalf and it’s sent to court to prevent any delays or missing information.
A FDR hearing is essentially a negotiation hearing where the judge will provide a non-binding indication of what a financial settlement might look like. It is an opportunity for each side to get guidance from the court about what it is likely to order in case of trial. Most cases settle at FDR and do not require a final hearing.
Financial proceedings can take between 6–18 months depending on the level of complexity, the court’s diary and whether both parties are co-operating. We will work hard and as quickly as possible to keep the case moving and keep you informed at every stage. Cases are usually quicker if you are as far through the preparation as possible before starting the process.
You may be required to give evidence if the case proceeds to a final hearing. However, many cases settle long before that stage. If required, we prepare you carefully so you feel confident and supported.
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