Divorce financial settlements
Experts in negotiating favourable divorce settlement agreements.
During a divorce or separation, a main concern is money. Who will get what? How will I manage? How do we decide what’s a fair divorce financial settlement? How will I provide for the children?
No matter how amicable your parting is, it’s crucial to make sure your financial affairs are settled clearly. You will need a binding court order giving details of your what has been agreed with your ex-partner, including arrangements for:
- Money, shares and savings
- Division of debt
- Child and/or spousal maintenance
At Clarke Willmott, our family law solicitors are experienced in delivering favourable financial settlements for our clients. Thanks to our in-depth knowledge, we can offer you expert advice on a wide range of financial matters and can negotiate with your partner on your behalf.
We specialise in all aspects of divorce financial settlements, including pensions and trusts, as well as business interests. Our expertise is recognised by our competitors and the Chambers Guide.
What am I entitled to in a divorce settlement?
When it comes to splitting finances in a divorce, there are no hard-and-fast guidelines or handy calculators.
However, an experienced divorce solicitor will be able to tell you what you could reasonably expect to receive and help you to put forward the best case to your assigned judge.
Our family law solicitors have a wealth of experience in divorce and financial matters. They can offer you expertise and in-depth knowledge, particularly when dealing with complex areas such as:
- Family businesses such as family farms
- Property portfolios
- International assets
- Inherited assets and substantial contributions to marital assets by one partner
- Asset deception and discovery
When required, we also work closely with pension, tax and forensic business experts to investigate the assets held and advise on what you could be entitled to and the impact claims can have on these issues.
What can affect your financial settlement
The first concern when dividing your family assets is the needs and ongoing welfare of any dependent children. Other factors that might affect how your finances should be split include:-
- Your age, and your partner’s, and how long you’ve been married, including any time spent cohabiting beforehand
- Your own and your partner’s current and projected future needs
- Your and your partner’s earning potential both now and in the future, including any health concerns or other foreseeable changes that might affect your earning abilities
- Whether either of you brought extra assets or money into the marriage – through an inheritance, for example
- Any family businesses and their value/ liquidity
- Your pension provision compared to your partner’s, particularly if one of you hasn’t worked for any length of time, such as a stay at home parent.
Options for reaching a divorce settlement agreement
You do not necessarily have to go to court to reach a financial settlement. There are a number of other options, including:
- Resolving issues between yourselves before seeking legal advice on the agreement you reach
- Negotiating through solicitors, either in writing or through a meeting
- Mediation or arbitration through a neutral third party
- Collaborative law: a series of meetings where you, your spouse and your respective solicitors work together to reach a consensus
Whatever you decide, even if you believe you can resolve it between yourselves, it’s still important to have an experienced legal adviser on your side. One of our family law solicitors will steer you through the negotiations and help to deal with any issues, to ensure you achieve a successful agreement for both the short and long term.
Once you’ve reached an agreement with your partner, your or your solicitor must ask the court to formalise the agreement in a ‘Consent Order‘, in order to make it legally binding, but it may not be necessary for you to attend any hearings.
If you’re unable to agree on a financial settlement with your ex-spouse, the court will decide what is fair and make a financial order which legally binds you both.
Why our clients choose us
Our divorce and separation clients choose us because we:
- Have a sensitive and caring approach
- Are highly rated for family law in Legal 500 and Chambers Guide
- Are members of Resolution fully committed to its principles
- Have a team of trained collaborative lawyers and mediators
- Offer broad and deep legal expertise across the firm
- Keep our costs competitive and under tight control
Try our relationship breakdown tool
Our Parting Ways tool is a great first step in guiding you through the legalities of a relationship breakdown. If your marriage, civil partnership or co-habiting relationship has broken down irreparably, our free easy-to-use tool provides an overview of what you need to consider from a legal perspective.
It takes a few minutes to complete and you will receive a guide tailored to your responses. You will not be asked for any personal information unless you decide you would like to speak with one of our solicitors.
Contact a divorce financial settlement specialist
For expert legal advice on negotiating a favourable financial settlement, call 0800 422 0123 or contact us online to arrange a confidential initial consultation. Our divorce and family law solicitors are based in London, Manchester, Bristol, Cardiff, Birmingham, Southampton and Taunton.