Whether the realisation that your relationship has come to an end occurs suddenly, or over a prolonged period of time, it’s in those early days of planning divorce that you’re at risk of making ‘knee jerk’ or impulsive decisions. Not fully considering the consequences can lead to difficulties later on down the line. That’s why it’s so important that you stop to take stock of your situation with a team of experts who can help and guide you.

Top considerations and next steps for divorce

Lauren Roche, a Senior Associate in our Cardiff and Swansea offices has set out below a series of factors to consider before taking your next steps on your path to divorce.

Divorce proceedings and when to apply for your final order

Once you have reached your decision that your relationship has come to an end, there is merit in starting the divorce process as soon as possible. The divorce process has recently undergone lots of change and is much more streamlined and easy to follow than ever before. That being said, there are mandatory time frames that you must abide by – 20 weeks from the issue of your petition to the granting of your conditional order, and 6 weeks and 1 day from the granting of your conditional order to your final order – and therefore, it is not as quick as many people think. Importantly, you need to reach at least the conditional order stage in your divorce proceedings before any financial agreement can be approved by the court. Therefore, it is best to begin your divorce proceedings earlier rather than later to start the initial 20 week clocking ticking. It is important to note that if it takes you longer than 20 weeks to reach a financial settlement, then that is absolutely fine. Your conditional order will not ‘run out’ and you do not have to immediately apply for your final order. In fact, in some circumstances it’s actually wise to wait to do so. It is important to get legal advice on this point as a decision on when to apply for your final order should be determined on a case by case basis. It is better however to at least reach the conditional order stage of your divorce proceedings, or be working towards it, whilst you consider how to divide your finances. Find out more about the divorce process

Gather financial information

Whether you have been at the heart of your family finances, your spouse has taken control of the finances in the main, or whether your finances have been kept separate, it is important to gather as much information as you can as to what your assets and liabilities are to outline the matrimonial pot. These may be held in either the sole, or joint names of you both. Proper consideration of your assets and liabilities will help bring clarity as to what it is that you have to divide upon separation. Without it, you will find yourself working upon assumptions and estimates, which often leads to confusion and anger. It can also bring delay and increase your costs significantly. Get tips for establishing your financial position:

• Take the opportunity to jot down your finances as you understand them to be, using exact figures where available
• Examples of assets may include property, bank accounts, investments, bonds, shares, cryptocurrencies, pensions, and any belongings valued over £500 such as jewelry, cars, and furniture
• Examples of liabilities may include mortgages, loans, credit cards or hire purchase agreements

Consider updating your Will

If you don’t have a Will, or you have one that has not been updated in a while, now is a good time to make proper arrangements.

Severing your tenancy and lodging a home rights notice

When you decide to start the divorce process, it is important that you establish how any properties are held. They may be in the sole name of one person, or in the joint names of you both. If there are jointly owned properties, these can be held at Land Registry in one of two ways, either as a joint tenants or tenants in common. However the properties are held, it is important to obtain advice as to whether any steps need to be taken in order to protect your interest. Steps may include:

• Lodging a home rights notice if the property is the former matrimonial home and is held in the name of your spouse only, which will have the title effect of formally notifying any potential purchasers of your beneficial interests.
• Severing the joint tenancy – to ensure that you can both leave your respective shares in the property to who you wish (rather than each other).

At the start of your separation journey, it is easy to feel overwhelmed, but here at Stowe Family Law we have a team of specialists on hand to help. Please get in contact for further information and to see how we can help you. Useful links:

The Importance of Pensions in Divorce

The Impact of the Housing Crisis on Divorcing Couples

What is a Financial Settlement and How Does It Work?