Financial matters

Resolving financial issues and disputes after a relationship breakdown can be challenging. We know that questions about the family home, pensions, business assets or maintenance payments can create stress and uncertainty.

Our family law team can advise you on all aspects of financial matters, whether you are negotiating an agreement with your former partner or need guidance through the court process.

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We help you:

Understand your legal position regarding claims you may have in respect of assets income and maintenance or pensions
Reach financial agreements
Manage disputes over property, maintenance, pensions or business interests
Apply for financial remedy orders if agreement cannot be reached
Prepare and advise you on a consent order recording the financial settlement if matters settle amicably

How the court considers financial arrangements

When deciding financial matters, the court looks at all circumstances and gives first consideration to the welfare of any children under 18 years old.

The court has regard to the following matters:

Each spouse’s income, earning capacity, property and other financial resources, each spouse has or is likely to have in the foreseeable future
Financial needs, obligations and responsibilities of each spouse now and likely to have in the foreseeable future
Standard of living enjoyed by the family before the breakdown of the marriage
Ages of the spouses and the length of the marriage or partnership
Any physical or mental disabilities
Contributions to the welfare of the family, including caring for children or managing the home
Conduct of each spouse
Value of benefits lost due to divorce, such as pensions

Both parties are required to provide full financial disclosure to ensure a fair arrangement can be made.

In most cases, the court focuses on meeting the reasonable needs of both spouses.

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Mediation

Mediation provides an opportunity to resolve financial and child-related disputes outside of court. It is part of non-court dispute resolution (NCDR)

An independent mediator helps both parties discuss issues constructively and reach a mutual decision.

The benefits of mediation include:

Preserving future relationships and promoting cooperation
Addressing issues fairly
Keeping the process simple and informal
Allowing parties to remain in control of decisions
Minimising stress, time and legal costs

Under the Children and Families Act 2014, mediation is generally required before certain family proceedings can begin.

Financial Remedy orders

Sometimes, it is not always possible to resolve matters amicably with your spouse, via solicitors or NCDR and financial remedy proceedings may have to be issued. This can be done during or after divorce, civil partnership dissolution, nullity or judicial separation.

Financial remedy orders can include:

The sale or transfer of property and other assets
Lump sums or periodic maintenance payments
Pension sharing or attachment orders

The process usually involves three stages:

First Appointment – Initial disclosure and assessment
Financial Dispute Resolution (FDR) – Negotiations with guidance from the court
Final Hearing – Court determines any unresolved issues if the parties are unable to reach an agreement earlier in the proceedings.

Some cases are resolved at an earlier stage, depending on their complexity.