Understanding the tax implications of divorce settlements
Tax may not be front of mind when a married couple or civil partners decide to part; however, it is something that is very important
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Despite the increase in couples opting to live together rather than marry, the law governing couples rights upon the breakdown of their relationship simply has not caught up with the times. It is complex and offers less protection to the “poorer” partner.
In terms of property, the name on the title deeds determines the owner. The other party can make a claim but will need to provide documentary evidence of contribution to the property.
Complicated trust law can also apply in these cases, but again, evidence of contribution or reliance is essential.
The concept of claiming maintenance upon separation from your partner does not exist, and a lump sum payment can only be claimed on behalf of any child. Pension claims cannot be made.
Property and money can be sought for children during their minority, but any property provided has to revert to the paying partner upon the child reaching 18 or leaving full-time education.
The law is complex, so we would advise you to seek advice about your rights at the earliest opportunity.
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.
You have to be married for at least one year before divorce can be commenced.
No. You are able to divorce in the UK as long as you or your spouse have been resident here for at least one year before starting your case, or you and your spouse are domiciled in the UK.
No. The same procedure has to be followed before divorce is finalised. See Our Flowchart.
– A divorce petition
– Original Marriage Certificate, with translation if appropriate
– A fee
An ‘agreed divorce’ takes about 5-6 months to finalise.
You are still able to divorce by showing the court that you have made attempts to locate them. The facts of 2 years’ separation with consent or adultery should not be relied upon in this instance.
Tax may not be front of mind when a married couple or civil partners decide to part; however, it is something that is very important
When you are going through a split with a partner, money matters may not be forefront of your mind, especially when you have children to
Separating from a spouse or civil partner or leaving a significant relationship is a very difficult process, even if the decision to part is mutual
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