While divorce rates in the UK have witnessed something of a decline over recent years, it is not unusual for separating couples to be caught off-guard when faced with some of the legal ramifications they may face following a split. For example, the potential for a continuing claim on each other’s assets after a split. We look at some of the most common issues former married couples wish they knew about in hindsight.

The responsibilities for children involved  

The immediate concerns following a separation often revolve around any children involved, how much access each parent will get, and where and with whom they will live with. Here, it is also worth remembering that both parties are responsible for the cost of looking after their children after separation, and this is the case even if you’re not married or in a civil partnership. If you’re the parent who moves out, the likelihood is that you will have to pay maintenance to the parent who looks after the children day-to-day. This is usually means tested, but it’s best if you can agree between yourselves with what is termed a ‘family-based child arrangement’.

What your ex-spouse could be entitled to

A lot of people don’t realise that a spouse may be entitled to a pay-out even if they separated many years ago. Reaching a financial settlement is a major component of the divorce process, no matter how long ago you stopped living together. Without a clear financial settlement, an ex-spouse can potentially make a fairly straightforward claim on the assets of the other. To this end, it is essential that a clean break settlement is achieved as soon as is reasonably possible. 

Realising not everything will be 50/50 

There are still no hard and fast legal rules around the division of shared financial assets and belongings and, although a 50/50 split is often the starting point, it is in no way set in stone. The discretion of the judge is still key in such decisions, and he or she can consider a number of different factors when making one. For example, this could be whether one partner has been unable to accrue more wealth due to providing childcare and other support. The couple’s money and assets will be divided up in a way that the judge feels fairly reflects each party’s contributions and needs. This is known in legal circles as ‘financial remedies’ (or Ancillary Relief orders) and are designed to end financial ties between the couple as soon as possible. 

Understanding more on the personal cost of separating

Some couples deciding whether to go their separate ways are forced to consider whether they will be able to manage financially if they do. Being able to afford to pay bills and other lifestyle expenses once you are living separately is not an easy task and for some is just too financially prohibitive. It shouldn’t prevent you from separating if you are really unhappy, but making sure you are fully equipped with the right information about what you are and aren’t legally entitled to is essential. 

Conclusion

It is advisable to seek advice on all aspects of separation before you go ahead. This will stand you in good stead for not being on the receiving end of a situation you hadn’t anticipated. Following a separation, don’t feel pressured into making a quick decision that’s not right for you. You’ll have a better chance of reaching a financial or family agreement if you wait until you’re ready to talk and have sought professional legal advice.