Cash Accounts
Solicitors advise clients to fight for fair settlements
Hemal Mistry, 09 September 2009
Lawyers are urging divorcees to renegotiate during the current economic state of affairs as not to be cheated out of a fair settlement.
The survey conducted among 50 divorce solicitors by Unbiased.co.uk, were asked about divorce arrangements in the economic downturn.
Clients, have asked more than one in three solicitors in recent months, to renegotiate the financial package they submitted and 12 per cent of solicitors believe that their clients will have a better than good chance of succeeding.
The changes have ensued from the dramatic demise of the financial outlook, to guarantee they are not losing too much of the settlement.
The top items on the list of renegotiations are properties, pension funds and other investments such as stocks and shares.
A large majority of those interviewed believe that the most reasonable item to renegotiate is housing after the credit crunch has had a drastic effect on the house prices.
David Elms, chief executive of Unbiased.co.uk, says, "The credit crunch has affected everyone in different ways, but those going through a divorce have been put in a difficult position due to the value of their combined assets decreasing over the period of the financial settlement being agreed.”
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Comments
Peter Moore
A fair settlement also means looking properly at pensions in divorce. Peter Moore – MD Bradshaw Dixon & Moore Ltd