Divorce Financial Settlement Solicitors
Free initial divorce consultations with our family law experts
Divorce or separation can be distressing, especially when finances are a concern. Our Solicitors can guide you through the financial process and provide essential advice.
Why choose Eric Robinson Solicitors?
- We guide you through the complexities of the divorce process
- Fixed fee divorce package that is tailored to your needs
- We deal with all aspects of divorce in England and Wales
- We offer sensible advice from the outset
Divorce financial settlement FAQs
When is the best time to deal with the issue of finances?
During the divorce negotiations, you and your partner will find that there are some things you agree on and others you don’t. Mediation can be a useful way of helping you make the best decisions.
Once you have got to the end of the road with those discussions (either with a set of terms for the court to approve, or with the realisation that you need a judge to step in and make financial decisions for you), it is best to apply to the court straight away. There is no deadline for making a financial application, but delay could affect the amount awarded.
Is every financial agreement different?
Friends and family are quick to rally round during a divorce and they will probably give you well-meaning advice based on their own experiences. What happened to them won’t necessarily happen to you – in fact, it is very unlikely that your circumstances will be identical.
Every divorce case is assessed differently by the court. Judges have complete discretion as to how to divide financial assets, and there is also no standard formula to apply. If you and your partner relinquish control of the decisions, bear in mind that it can be very difficult to predict how a court will deal with your assets.
Will it consider the financial needs of children?
The court must consider all of your circumstances, beginning with the welfare of your children, including stepchildren who are under the age of 18.
However, just because the children’s needs are considered first, it doesn’t mean they will be the most important factor; there will be a whole range of issues to be sorted out one-by-one.
Will there be an equal split of finances?
It is rare for the financial aspects of any marriage to be entirely equal, and this is taken into account when it comes to formalising the divorce. The court will be keen to make sure that the outcome is fair. It does this by considering the needs of each party, the compensation to which they may be entitled, and their duty to share.
Is the breadwinner more important than the homemaker?
Courts are very reluctant to factor into their decision-making the reasons for the marriage breakdown. Only in exceptional cases will they take into account “bad behaviour” during the marriage; generally, where it would be impossible to ignore. One example is where a husband who had attempted to murder the wife was left with only a small percentage of the assets. Excessive gambling by one party may also be taken into account, but you shouldn’t count on a husband or wife who has cheated, for instance, having less out of the financial settlement because of that.
Will the financial settlement penalise the spouse of the partner at fault?
Courts are very reluctant to factor into their decision-making the reasons for the marriage breakdown. Only in exceptional cases will they take into account “bad behaviour” during the marriage; generally, where it would be impossible to ignore. One example is where a husband who had attempted to murder the wife was left with only a small percentage of the assets. Excessive gambling by one party may also be taken into account, but you shouldn’t count on a husband or wife who has cheated, for instance, having less out of the financial settlement because of that.
What happens to pensions?
Pensions were often overlooked in dividing financial assets. However this is not the case nowadays and they are often the most significant asset to be considered. Normally pensions are divided between the parties to the marriage but some – the basic state pension, for example – may not be shared.
Spouses who have divorced and remarried one another (it does happen!) may not have a second pension share against the same scheme if they divorce for a second time. However, where a pension has already been shared in a previous marriage, there is nothing to prevent it being shared after a second divorce.
What happens to non-matrimonial property?
Non-matrimonial property could be an asset inherited or gifted to one party. It could also be something acquired before the marriage, or brought into the marriage by the husband or wife.
This sort of property is not necessarily ring-fenced. If it is not of great value, was not acquired a long time ago, or has become mixed up with matrimonial property during the marriage then the court is likely to share it between the parties. In any event, if the needs of the parties can only be met by taking into account non-matrimonial property then it will still be shared. This is because when it comes to divorce settlements, needs are usually more important than contributions.
What if I need urgent maintenance?
It is possible to obtain an interim order for maintenance as soon as the divorce proceedings begin even though financial matters have not been resolved. This is called “maintenance pending suit” and will last until the final order is made. These applications are often made when the primary earner leaves and makes no payment to the other person and the children, meaning they are unable to pay essential outgoings.
Will full and frank disclosure be necessary?
It is important to air all of the issues during the financial proceedings. Once an order has been made (whether by consent or decided by a judge) it can be difficult to change. There are only limited circumstances in which a court will consider an appeal or an application to set aside, for example fraud or where one party has not fully disclosed their assets. Both parties are subject to a duty to provide full and frank disclosure.
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Highly recommended, responsive and easy communication the whole way through buying and selling our property. Have had mixed experience with other firms in the past and this was a pleasure!
We couldn’t have asked for better…
We couldn’t have asked for better solicitors when buying our first home! They were professional, friendly, incredibly helpful, and kept us informed throughout the whole process. As first-time buyers, they made everything feel so much easier and less stressful. We’re so grateful for all their hard work and would highly recommend them to anyone!
excellent service
excellent service. Professional, knowledgeable, friendly. Good communication. Would 100% recommend and use again.
I reached out to Eric Robinsons for redundancy advice
I reached out to Eric Robinsons for redundancy advice, they were very timely, efficient and helpful and guided me through the process and helped me to understand my rights.
Conveyance completed smoothly
Conveyance completed smoothly, staff involved all polite and helpful.
Challenging sale to our tenants
We recently sold our house to our tenants, and while the process was challenging, Sylvia made all the difference. She was confident and personable while remaining thoroughly professional and extremely responsive throughout. Sylvia helped us navigate a variety of challenges and really drove the sale forward. Having bought and sold many properties over the years, we’ve experienced both very good and very bad conveyancing — and Sylvia is simply the best we’ve ever worked with. She sets a new standard for us on how the job should be done. Excellent service, and I’d have no hesitation in recommending her.
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