Divorce Financial Settlement
If you are beginning your divorce proceedings, you will have to negotiate the division of finances. That’s where divorce financial settlement solicitors can help. Relying on our extensive accounting and legal experience, we can help you reach a fair divorce financial settlement.
Our team will evaluate your ‘Marital Pot’, including property, businesses, pensions, and any valuable assets or liabilities. Additionally, there are many factors that can lead to disagreements during divorce proceedings, we negotiate on your behalf.
Members of our team will talk with you and work out want to get out of your financial settlement and negotiations on your behalf. We will provide you with the best strategy to approach the settlement and ensure your financial security.
Divorce Financial Settlement
Divorce financial settlement is a legally binding decision, regarding the division of assets and wealth at the end of a marriage, in the form of a Consent Order.
This will include:
- Money (investments, insurance policies, savings)
- Property (houses, apartments, rental properties and holiday homes)
- Household contents
- Pension funds
- Business interests
- Personal items (over £500)
- Debts, loans, and credit cards
Our other services include
Frequently Asked Questions
How are finances split in a divorce?
Dependant upon the length of the marriage, division of the Marital Pot 50/50 is the starting point for negotiations. There are other circumstances that can reach a settlement on this basis, including factors such as can financial needs, family’s standard of living, income, etc.
At what stage of divorce do we need to reach a financial settlement?
It is not really time bound. You can reach the settle before the divorce you conclude your divorce. We recommended the way to proceed is to settle before the Decree Absolute is applied for.
Do we have to go to court to reach a divorce settlement?
Short answer – no. Although, you do require a Consent order to formalise what has been agreed. Without getting a consent order, either of the parties can change their minds and claim, in the future, on your assets at that time.
Will my business assets be included in the divorce settlement?
Yes. However, everything strongly depends on the circumstances. For instance, if one party was staying at home taking care of the children, whilst the other party was building a business – their contribution to the marriage can be seen as equal. If possible, court tries to avoid breaking-up or liquidating business.
What happens to a pension in a divorce?
Pensions are considered as a part of the ‘Martial Pot’, amongst other things like property and business interests. Solutions can include splitting the fund into two, transferring a sum of money from one pension fund to another to equal them out between the spouses, and once pension is being paid out, part of the money must be transferred to the other party.