Redundant from Coronavirus – Affect Divorce Settlement?
I have been made redundant because of Coronavirus.
We are living in scary times with an uncertain economic future and when you see on TV or read in the news companies like British Airways announcing this week that it plans to make up to 12,000 staff redundant, it is extremely unsettling.
How will this affect my divorce settlement?
Being made redundant during divorce proceedings may be especially frightening, not only for the person directly affected but also for the spouse, as worries about how mortgages, bills will be paid all surface. This can add to tensions that already exist and significantly can have a detrimental effect on any child or children of the family.
Many separating and divorcing people feel scared of going it alone financially and not having an income can make that feeling worse. But it does not need to be such a scary and lonely journey and taking legal advice early can often help, there are a number of options available as well as specialist help from an array of professionals.
Divorce Divorce FAQsWhilst ideally it is best to attempt to agree a financial settlement with your spouse, sometimes both parties need a helping hand. Court proceedings should always be a last resort, but whether a resolution is found inside or outside a court arena, there are a number of factors that we must take into account.
One of those factors is what a party is currently earning and what they have the potential to earn. A Judge also looks at what the spouse is earning and whether there is the potential for spousal maintenance to be paid, in addition to child maintenance if there are any minor children living with you.
(Child maintenance, if disputed is handled by the Child Maintenance Service –CMS, formally called the CSA).
If you are unable to find work and your spouse can afford to pay spousal maintenance he/she may be ordered to do so. However this will most likely be for a limited period of time until you can get yourself back on your feet. It is important to understand the impact your current financial situation has on your overall settlement and seeking specialist legal advice is important.
To find out where you stand use our Online Intelligent Family Tool or email [email protected] alternatively you can telephone Matt on Ipswich 01473 407181 or Colchester 01206 584584.
Contact Matt Clemence
Matt Clemence, is a qualified Solicitor with vast experience in family law. For expert legal advice to understand your legal rights and if you would like to know more about your options, contact Matt at [email protected] or telephone Matt on Ipswich 01473 407181 or Colchester 01206 584584.
