Is it right for you to settle your divorce claims during the current pandemic?
You may be one of the many in the unenviable position of going through a divorce. You may have had to think about values of assets.
Turning our attention to just 3 types:
The Home
The home in which you live – if you are buying out your spouse, stop and reconsider. You don’t want to pay over the odds for a property that is likely to have gone down in value.
Investments & Shares
The investments you have in shares – if you are retaining the shares and paying your spouse 50% of their value, make sure you get them re-valued. In the past two months the FTSE 100 index has suffered a 21% reduction.
Your Business
The business from which you earn a living – are you trading this for your interest in the family home or other liquid assets? Beware. The business you had 2 months ago may look very different now.
Its value almost certainly will have been impacted by the current pandemic. Don’t settle so that you end up keeping the risk-laden assets.
The future is uncertain.
What can you do?
Pause. Reflect. Re-value. Re-negotiate.
If you settle your case now, you will suffer the consequences later.
If you settled before the arrival of coronavirus such that you feel you now have a poor outcome there may steps you can take to overturn the court Order.
For more information or something more specific to you, please feel free to get in contact with us.