Divorcing during the Coronavirus Pandemic? Read this….
(Posted on 05/06/20)
Will divorce rates rise after lockdown?
Specialist family lawyer, Sarah Jane Lenihan, Partner at the Stowe Family Law office in London shared her thoughts today on TalkRadio regarding divorce rates rising post-COVID-19 lockdown.
If I had a pound every time someone asked me if I thought there would be a surge in divorce post lockdown, I would be a very rich lady, and my recent interview on TalkRadio was no different.
The media reported that China experienced a spike in divorces as the lockdown was released. However, the question is was that due to the lockdown or to the fact many family law offices were closed and therefore there was a backlog of processing cases?
Different approaches to divorce during COVID-19 lockdown
Divorce during COVID-19 lockdown: How are family lawyers and the courts adapting to the new routine brought in by COVID-19. Julian Hawkhead, Senior Partner at Stowe Family Law joins us on the blog.
We are living in strange and challenging times. As I write this, I am sat looking out at the garden on a sunny spring day watching my neighbours go about their own business respectfully keeping their social distance.
It’s quite an idyllic scene but of course, we know it belies what is an extremely difficult time in world history. It’s a time like no other and you can’t escape new statistics or conversations about COVID-19 / the Coronavirus.
The requirement to stay at home, to only leave your house for essential reasons has in many respects brought daily life to a stop. Well, maybe not a complete stop but certainly the pause button has been pressed.
For more information please visit https://www.stowefamilylaw.co.uk/blog/2020/03/26/divorce-during-covid-19-lockdown/
Reaching a financial settlement in the Coronavirus pandemic
In the midst of Coronavirus chaos, everyone has a lot on their minds, namely the health and wellbeing of their loved ones. Unfortunately, they may find that other ongoing difficulties continue to rumble on in the background, which still need to be resolved including reaching a financial settlement in the Coronavirus pandemic.
For example, if you are currently going through a separation, the sense of uncertainty you were already feeling may be compounded by what is going on across the globe. Having some information and knowledge on what your financial situation would look like post-separation, may be welcome to you at this time.
New tax changes that may impact on divorcing couples
Specialist tax advisor on family breakdown and divorce, Sofia Thomas joins us on the Stowe Family Law blog to look at the 2020 tax changes that could potentially impact on divorcing couples.
New tax year changes
The start of the new tax year has understandably almost arrived unnoticed due to the pandemic, however, there are some pretty big changes which came into effect from 6 April 2020 which may particularly impact divorcing couples.
Capital gains tax
Capital gains tax is now payable within 30 days of selling or transferring a property.
If, as part of your divorce, you are jointly selling a property or you are transferring your share of a property to your partner, the capital gains tax will be due within 30 days of the disposal.
If you are transferring the property within the tax year of separation then there will be no capital gains tax payable on transfer.
If you are transferring the property outside of the tax year of separation, capital gains tax will be payable on the market value of the property. See my previous blog here for more information.
Who does this potentially impact?
This will impact you if you are selling or transferring a property.
For more information please visit https://www.stowefamilylaw.co.uk/blog/2020/04/23/new-tax-changes-that-may-impact-on-divorcing-couples/
Spousal maintenance during the coronavirus lockdown
The COVID-19 outbreak is impacting on everybody’s lives and as we near the end of the fourth working week in lockdown, the financial consequences of this pandemic continue to grow.
With the majority of businesses now closed, employees furloughed or taking reductions in salary and a rise in redundancies, for those people paying or receiving spousal maintenance during the coronavirus lockdown this is uncertain times.
Click the following link read about options in relation to spousal maintenance during the coronavirus lockdown: https://www.stowefamilylaw.co.uk/blog/2020/04/16/spousal-maintenance-during-the-coronavirus-lockdown/
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