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Reaching a financial settlement in divorce

Whether you need to protect your wealth or ensure you receive a fair settlement, our expert divorce lawyers and in-house accountants will be by your side.

What is a financial settlement?

The act of divorce itself does not put an end to the financial relationship between you and your partner.  To separate your finances, you must reach a financial settlement; a legally binding decision on how assets and wealth will be split now the marriage has ended.

Do I need a financial settlement?

Even when you are divorced, without a settlement you both still retain the ability to make financial claims against each other. You can get a financial settlement at any time during proceedings. Reaching an agreement will depend on your relationship and the complexity of the assets.

How to reach a fair settlement?

Whether you are protecting your wealth or negotiating for a fair settlement, English law will look to share the assets built up during the course of your marriage: property, shares, money. savings, pensions and assets.

The first step is to identify the right process for you and your ex-partner to come to an agreement and your assets, home and ongoing spousal maintenance.

There are several routes available:

Agreeing arrangements with your ex-partner asking your lawyer to make the agreement legally binding
Ask your lawyer to negotiate with your partner for you to get to an agreement
Mediation
Collaborative Law
Arbitration 
Go to Court 

Going to court

If both parties cannot reach an agreement and settle out-of-court then a Judge will have the final decision on how the assets are split.

This decision will be influenced by how long you have been married along with age, ability to earn, property, role in the marriage and standard of living.

The Court will always strive to divide the assets in the fairest way but arrangements for the children will always take priority including maintenance and housing.

Court proceedings can also help when you are not getting all the financial information you need, complex financial issues, domestic violence – or the threat of it or an international element.

Untangling complicated assets

It is important that both parties provide a clear picture of all assets to ensure a fair settlement but this is not always the case.

If your instinct is telling you that assets have been hidden or the figures are not adding up, our in-house accountants are on hand to untangle  finances, both personal and business, to identify any discrepancies, including revealing hidden assets and income.

Where to find us

We have divorce lawyers in offices throughout Britain including London, Birmingham, York, Bristol, Manchester, Nottingham and Leeds, along with towns including Harrogate, Wilmslow, Beverley, Ilkley, Wetherby and Winchester.

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