How to deal with financial worries during divorce
Going through a divorce can be a difficult time that is often fraught with many uncertainties in particular those of a financial nature.
It is frequently the case in relationships that one partner or spouse will be financially stronger than the other and sadly this superiority is often exploited.
Where one spouse does not have sufficient ‘to make ends meet’ in terms of covering mortgage payments; household expenditure; servicing debt repayments and buying things for the children and no interim arrangements for financial provision can be agreed, the Family Court has the power to make orders for interim maintenance on a relatively urgent basis.
An interim maintenance order (also known as maintenance pending suit or ‘MPS’) is an order made requiring a spouse to make monthly payments until the conclusion of divorce and financial proceedings when a final order will be made. The court adopts a “broad brush” approach to determine how much is require to bridge the gap where there is an obvious household budgetary deficit.
A spouse applying for MPS must provide a list of monthly expenditure and details of all sources of income with sufficient documentary evidence to prove to the court that there is a real need for ongoing financial support from the other spouse. There will often have to be a court hearing to determine the issue if it remains in dispute such as the other spouse seeking to prove an inability to pay. Advice and representation in court from a specialist solicitor is recommended.
It is important to note that there is no formula to calculate MPS this is up to the discretion of the courts although a specialist solicitor will be able to provide a good indication of how much the court would be likely to order given the circumstances.
If you require advice in respect of interim maintenance and all other aspects of divorce financial provision please contact Stuart Parker at Pepperells.
