FINANCIAL SETTLEMENTS IN DIVORCE
A Decree Absolute ends a marriage, but does not end the financial arrangement between former spouses. It is important to obtain a final order from the Court in respect of finances to protect yourself against potential future claims.
Often one party to the marriage is in a financially stronger position than the other, the weaker party wanting to ensure that their financial needs are catered for and the stronger party may be concerned about what they may have to provide.
Sometimes parties can agree between themselves how to divide their assets whether it is the family home and who shall remain there or whether it should be sold; and what ongoing financial provision, if any, should be made. Finances may be more complicated with business interests, shares and trusts. Pensions can be a very important asset to consider when divorcing.
There are various ways to resolve financial matters, whether agreement is reached between parties, via mediation, or negotiation between solicitors. When agreement cannot be reached an application to Court can be made which will set a timetable for resolution of the finances.
We are able to advise you as to the type of orders that can be made and what factors need to be considered. Whether it is preparing an agreement already reached between you or taking you through the Court process, we are able to help and guide you. Where necessary we will instruct professionals such as property valuers, pension actuaries or accountants.