Battrick Clark Solicitors of Clifton, Bristol are highly experienced legal advisors on financial settlements related to divorce and the dissolution of civil partnerships. We can also advise on financial disclosure obligations, help with financial remedy cases, and assist in all matters of law relating to the apportioning of business assets following the break-up of a marriage.
Financial Settlements
A financial settlement is legally binding agreement between separating spouses or civil partners on the division of their joint financial assets and liabilities.
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Financial Remedy Proceedings Process
Financial remedy proceedings are a legal recourse by which financial settlements may be decided upon by a court of law, in the event that partners are unable to voluntarily come to a mutually agreed financial settlement.
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Treatment of Business Assets in Marriage Breakdown
When either divorcee or separating civil partner owns a business or a part-share in any business, including any ordinary shareholdings, its value must be taken into account for the purposes of establishing a just financial settlement, whether or not the business asset in itself remains under the control of just one former spouse or partner.
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Financial Disclosure and Assets
Alongside the legal obligation to full and frank financial disclosure on the part of both separating civil partners or divorcing spouses, there are potential protections in place against the wilful offloading or concealment of assets by either partner. In extreme cases, transactions may be blocked by a court order, or forensic accountants appointed to detect concealed assets.