Lately at KLP we have seen an influx in Financial Agreements – also known as Binding Financial Agreements or “BFA’s” - being prepared by other firms. When asking client’s if they are aware why their former spouse has had a Financial Agreement prepared, as opposed to the more common option of Consent Orders, the response is often “the Bank said we just needed something in writing”, “we’re amicable” or “we want something simple”. However, none of these responses answer the question.Read More
Separation can be very hard if you are the spouse that earns less or no income, and your former spouses wipes their hands of any joint expenses.
So, is there anything you can do about that?
Of course these is, and let me tell you how it works.Read More
Despite the recent drop in interest rates, high property prices around the country mean the trend of receiving monies from the “Bank of Mum and Dad” so that their children can become first homeowners is only likely to increase. When that child and their partner separate – the question is then how those monies are considered in a property settlement.Read More
After you separate the Court can make orders that will require you to continue providing your former partner with financial support so that they can meet their expenses.
This may not seem fair – I mean you are no longer together why the heck should you have to continue paying your former partner money right?Read More