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 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.
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.