Divorce Finance
Caring, smart financial settlement for divorce clients at a cost effective rate.
Divorce Financial Settlement Solicitors
The family finances are usually the main contentious legal issue when a couple divorce. Important decisions need to be made about splitting assets so that each party can move on without any entanglement. There will be disputes over how the family assets should be distributed, who is more entitled or deserving, short or long term monthly maintenance for a spouse or children & whose needs should be met first or what is ‘fair’. Reaching a financial settlement can cause arguments & heighten existing hostility thereby hindering solutions resulting in higher lawyer’s fees and legal costs.
It would make sense for a couple to preserve as much of their assets as possible for distribution between themselves in perhaps an already small pot of assets rather than use that to fund solicitor’s fees.
How can Freeman Harris Solicitors help with your financial matter?
Freeman Harris solicitors therefore assist on settling these disputes via out of court negotiations whether that be through us or independent mediation and we will be there with you every step of the way until you reach a final agreement and help to implement that agreement. If a settlement cannot be agreed, then we will advise, assist and represent you in a court application if deemed absolutely necessary to resolve the conflict. The rules are the same whether you are married or in civil partnership’.
When negotiating a financial settlement for a married couple, factors that are taken into account include:
- Children (if any) – their financial needs and what may affect their future well-being
- The length of your marriage
- What you currently learn and the income of your spouse
- Potential earning capacity of each party in the future
- Assets of each party (including pensions)
The standard of living the couple have enjoyed during the marriage - Financial contribution that each party has made to the marriage
- Other contributions that each party has made to the marriage (non-financial), such as caring for the children, looking after the house or supporting your spouse’s career
The law treats cohabiting couples differently and the above factors are not applied in deciding on a settlement. There will nonetheless be arguments over –
- Family property whether that be in joint names or not and the extent of the parties legal and beneficial ownership in it
- Children/rights of unmarried parents/ maintenance and financial support
- Occupation of the family home
Consult one of our financial settlement lawyers for further advice on your rights.
Divorce Finance Team
Rohana Khan
SolicitorRohana works on all all legal aspects of relationships, children matters and financial disputes in the Family Law area.Catherine Greenacre
Legal AnalystCatherine (Cat) carries out a broad range of private client work which include the all family law related work. Her expertise is in resolving family law matters.Isabel Fisher
Trainee SolicitorIsabel assists the family law department with all the initial information gathering and research work, which helps drive the department to get fair results for clients.
Cohabitation Agreement Fees
Common Financial Settlement Questions
- What Is a Divorce Financial Settlement?
A divorce financial settlement is a court-approved agreement that specifies how all monetary assets and liabilities will be allocated between partners following their separation. The settlement includes arrangements related to property ownership, pension entitlements, personal savings, outstanding debts, and both spousal and child maintenance payments. A formal settlement establishes clear terms and stops future financial disputes.
- How Are Assets Divided in Divorce?
In divorce cases marital assets typically start with an equal division of 50/50 between both parties. The ultimate asset division depends on multiple factors including marriage duration, age of both parties, their earning potential, childcare responsibilities, and financial requirements. Important assets including pensions and property undergo careful evaluation to achieve a fair division.
- Is Hiring a Solicitor Necessary When Handling a Divorce Settlement?
Although it is not required, you must hire a solicitor because they protect your rights during divorce proceedings. Legal representatives help identify fair divorce settlements and create precise agreements to prevent future misunderstandings or conflicts. Solicitors can serve as your representatives during negotiations and courtroom proceedings to guarantee effective presentation of your case.
- What Is a Clean Break Order?
A clean break order legally ends all financial connections between divorced spouses so that neither party can pursue financial claims against the other in the future. A clean break order offers security to individuals who desire stability in case of future financial benefits or life changes
- Is It Possible For My Former Spouse To Seek Financial Compensation Years After Our Divorce Has Ended?
Without a formal financial order, your ex could make financial claims against you even years after your divorce settlement. The clean break order eliminates this risk by legally terminating all financial responsibilities between divorced individuals.
- What Happens To Pensions In a Divorce?
During divorce proceedings, pensions tend to represent some of the most substantial assets for division. Pension benefits can be divided by pension sharing, exchanging pension rights for another asset through offsetting, or earmarking, which involves allocating a part of pension benefits during retirement. You need professional advice to manage these financial options correctly.
- How Do Courts Decide Who Gets What?
The court evaluates earning capacity alongside financial contributions and dependents before determining the standard of living and future financial requirements. A fair outcome remains their primary objective while accounting for children’s needs.
- What If We Agree On Everything?
When you and your spouse reach an agreement about asset division, you can formalise it through a legally binding consent order. The agreement becomes legally binding through this process and prevents any future disagreements between you. The solicitor can prepare and submit the order to the courts for you.
- What Steps Should I Take When My Ex Fails To Cooperate?
In cases where your ex-partner declines to participate in discussions or negotiations legal help may be required to settle the issue through mediation or arbitration or by taking it to court. Our legal experts will help you navigate all necessary steps until you find a solution.
Contact our Divorce Finance Team
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