The current economic situation is making difficult decisions within divorce even harder to make.

In divorce proceedings there is a need to consider the amount of the matrimonial assets as well as the income capacity of both parties before assessing a fair division between them.

The current economic climate can cause difficulties for a number of reasons. These include the increased risk of redundancy, the fluctuating property market and the extremely volatile situation regarding shares, investments and pensions.

Job insecurity on the part of the paying spouse means that ongoing maintenance rather than an immediate clean break may be advantageous as it is possible to apply for a downward variation of maintenance should income reduce. On the other hand the recipient of maintenance may prefer a capital sum in lieu of ongoing maintenance in order to avoid any reduction in maintenance payments.

The matrimonial home at one time was probably the most valuable matrimonial asset before the difficulties in the housing market. The reality at present is that properties are selling for less and taking longer to sell which does not assist parties wishing to move on with their lives.

Share valuations and other equity based investments need re-calculating on an almost daily basis.

Bankruptcy is also becoming increasingly common which can result in the forced sale of the matrimonial home even if there are children.

In view of the above it is important to seek good legal advice to be able to resolve issues in the most amicable and conciliatory way.

If you require any further advice or assistance please contact Ros Plumb or a member of the Litigation team at Wortley Byers on 01277 268349 or rplumb@wortleybyers.co.uk.

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