Divorce settlement affected by financial market.

Divorce settlement affected by financial market.

Will volatile financial markets affect my divorce settlement?

The recent volatility in the financial markets seems to have taken us all by surprise, not least the government. Once again, like in the global financial crisis of 2007 – 2008, most of us have no real idea of what is going to happen day to day. Some pension funds have had to take drastic action to shore up their resources, the mortgage market has contracted, and house prices have stagnated and, in some cases, fallen. The cost-of-living crisis is biting day on day and individuals and businesses are counting the cost.

Lawyers and judges are not immune to the volatility which means that they must take extra care when advising clients on financial settlements on divorce and making decisions as to who is to have what. Lawyers must safely guide their clients through choppy waters when negotiating financial settlements, and judges must make decisions about people’s financial futures that provide the maximum amount of security that is possible, particularly if children are involved.

It’s not an easy situation all around but to put it in perspective it’s best to remember that all financial settlements are a snapshot in time, with one eye on what might be the future. Lawyers take great care to ensure that assets are valued by appropriate professionals with market knowledge during divorce proceedings. While this does not prevent values changing over time, as even in less choppy waters house prices go up and down and pensions increase and decrease in value. It does mean that clients have certainty that their assets have been properly quantified at the point when they are at their most financially vulnerable.

So, if you trust us with your divorce, you can be sure that we will predict what we can as accurately as we can, get expert help from financial advisors where necessary and create as much stability as possible. That’s our promise to you.

Our team of specialist family lawyers are on hand to help you, contact a member of our family team at Kerseys Solicitors in Ipswich Suffolk 01473 213311 or Kerseys Solicitors in Colchester Essex 01206 584584 alternatively visit our web site and click “Call Me Back” and a member of the team will be happy to call you.

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