Financial Disputes

When a relationship breaks down there are usually financial issues to be determined. We deal with financial disputes ranging from straightforward matters where, for example, the main and only asset is the former matrimonial home ranging to more complex matters for wealthy clients where businesses may be involved and a great deal of assets held both in this jurisdiction and abroad. Our firm has the relevant technical skills and experience necessary to obtain the most favourable outcome possible either through negotiations or through appropriate representation at Court hearings.

We will always attempt to keep the costs in relation to financial disputes to a minimum by obtaining, wherever possible, a speedy conclusion and settlement through negotiations. Clearly, it is not always possible,however, to obtain an agreed settlement where, for example, your former partner/spouse is making unrealistic demands in terms of assets available.

We deal with all aspects of financial disputes including:

• Child Support Matters (CSA New Regulations)

From the 3rd March 2003 new Child Support Regulations came into force. Under the new regulations, Child Support maintenance is calculated using a simpler formula than previously used. Some of the main changes to how Child Support is calculated are as follows:

1. The income of the parent with care will now be ignored.
2. Housing costs are now irrelevant.
3. The absent paying parent will receive a discount for relevant other children (i.e. children of their new partner with whom they are cohabiting).
4. The paying parent will receive a discount to the level of maintenance he pays in the event that he has staying contact with the children for 52 nights or more.

Where the paying parent's income is between £200 and £2000 per week, he will pay a percentage according to the number of children living with the resident parent as follows:

1. One child - 15% of net weekly income
2. Two children - 20% of net weekly income
3. Three or more children - 25% of net weekly income

Different rates apply to parents whose income are outside the above thresholds i.e. in the event that your income does not fall within the above amounts (less than £200 per week or more than £2000 per week).

Net earned income is defined as gross pay including bonuses, overtime and pay in lieu of notice (but excluding benefits in kind), less income tax, national insurance contributions and full pension contributions.

For self-employed earners, net income is defined as taxable profits per Inland Revenue returns or gross receipts.

We also deal with the following financial matters:

• Financial matters related to divorce and civil partnership breakdown including maintenance claims, lump sums, child maintenance and disputes in relation to property.
• Consent Orders
• Pension applications
• Injunctions to prevent disposal of assets
• Enforcement of Orders
• Variation and appeals of Orders made
• Pre-nuptial agreements

We also deal with financial disputes where couples have not been married but have been living together, namely, co-habitation disputes and civil partnership disputes.