Divorce: the importance of choosing the right solicitor

Considering divorce can be a daunting experience at the best of times but when we are still coming out of a recession and may in fact be entering a second recession the thought of having to enter into ‘battle’ over the family assets is for some a major nightmare.

In some cases the only asset is the home and though there will be considerations to be taken into account if children are involved the resolution of the finances between the parties can be relatively straightforward.

However there are more complex cases involving businesses, investments, trust funds and even inheritances.  To find a solution that will meet the needs and financial goal of each party is not easy and often proves problematic as well as expensive.

The need for a good solicitor and one who can work with you to find a working solution without having to run up a large legal bill is essential.  The aim is to ensure there is full and early assessment of the value of the assets, usually with the help of specialist financial planners and other experts, and that the line of communication is opened early, and remains open, with all concerned.

You need to choose a solicitor who can handle you case in such a way so as to minimize the hostility and bitterness that often hampers progress.   A solicitor than can allow you and your partner to preserve your dignity and to work together in doing all that you can you to ensure that those assets which have been accumulated within the marriage are not lost in unnecessary legal and court fees.

A good solicitor will not be one who embarks on sending out inflammatory letters and whose actions only serves to fuel additional bitterness as well as taking money out of your pocket when it is not necessary.

The need to open up early and constructive dialogue with the solicitor acting for the other spouse is essential.   Early and open discussion on issues that you and your spouse believe to be addressed will help to ensure issues are constructively discussed and resolved and the need for Court intervention is reduced.

Morgan Jones and Pett are solicitors who provide legal advice and services to clients based in England and Wales and who can be contacted on 01603877000 or via email at davidpett@m-j-p.co.uk

Loans available to help with divorce costs

It seems that with the probable demise of public funding in family related cases that more and more people will be looking for funding options.  In last week’s FT.com it was reported that the Co-operative Bank has begun offering loans to divorcees to help pay spiralling legal bills.

The article (http://bit.ly/dO6ZHI)  read:

‘The bank, which has its headquarters in Manchester, has entered an agreement with DWF whereby the law firm will introduce well-heeled clients to the bank so they can be considered for a loan.

It has proved a popular arrangement with those who depend on incomes from their estranged spouses, ensuring they can get access to lawyers.

Some private banks already offer so-called matrimonial dispute loans, but lawyers say many have pulled back in recent months and have tightened their lending policies.

David Pickering, head of family law at DWF, said: “The loans are still out there but private banks are increasingly demanding collateral and security. This is often difficult for an ex-wife when the family home, for example, is in joint names of both parties.”

The Co-op loan is unsecured and will be cleared once the divorce settlement is made. As a law firm, DWF is not licensed to provide loans and the scheme is purely a referral one.

Stephen Buckland, senior manager at Duncan Lawrie, a Belgravia-based bank, provides these types of loan, ranging from £25,000 to £250,000, and says demand is growing.

“I am aware that some private banks have tightened up their lending and at least one has pulled out altogether. We have been getting busier as firms of solicitors become aware we offer these loans and we have picked up a number of clients through personal referrals,” he said.

Suzanne Kingston of Dawsons solicitors said she believed funding was still available to clients but on less favourable terms than before the credit crunch.

The Co-operative Bank is part of the supermarket-to-financial services group that is Britain’s biggest mutual retailer. The group itself is gearing up to offer legal services to non-members when the UK legal market opens to greater competition this year and allows new entrants.

Paula France, account manager at the Manchester corporate banking centre of the bank, said: “This is an extension of our longstanding relationship with DWF, where we are seeking to provide facilities to their clients with a view to making the decision of choosing a law firm much easier.”

The number of “big money” divorces has been growing in recent years with estranged spouses winning big pay-outs.

These include the £48m awarded to Beverley Charman after 28 years of marriage to John Charman, the insurance magnate, and the £24m awarded to Heather Mills on her divorce from Sir Paul McCartney’.