Commencing a divorce or dissolution process does not resolve the financial consequences of your separation. These need to be dealt with separately. Future financial security is an understandable concern of any client following the end of a relationship, but often consideration of the immediate financial needs can be overlooked. 

Every couples circumstances are unique and the financial settlement will, in most cases, require a detailed look at the overall financial position which will require both parties to provide full details of their income, assets and liabilities. 

Our experience enables us to discuss with you potential outcomes and variables and provide advice as to whether the court would endorse any proposals/agreements as fair in all the circumstances, bearing in mind factors such as the length of the marriage, the needs of minor children and your needs moving forward. Negotiations are delicate and require skill, insight and sensitivity to the issues involved. Every effort is always made to conclude matters outside of a court process. However, sometimes if this is not possible contested proceedings follow, you can rest assured you will be guided and supported through the process.

Our experience includes advising in cases concerning:

• Short/long/second & subsequent marriages
• Middle income – where the parties’ needs are to be met from limited resources;
• High net worth individuals with more complex issues including multiple business entities, family or offshore trusts
• Family businesses
• Inheritance
• Disparity in pensions, with a combination of different types of pension schemes
• Divorce and separation for older clients following long marriages, where one party is disadvantaged in their knowledge of the family finances
• Assets abroad
• Hidden assets/a lack of full disclosure by one party
• Wealth protection including pre and post nuptial agreements
• Variation of financial orders including a variation of spousal maintenance
• Expert evidence including pension actuaries, forensic accountants, surveyors other experts
• Where one party remains acting in person

Whether you wish to obtain advice on discussions between you, formalise an agreement in the form of a Consent Order, or feel unable to discuss matters with your spouse/partner because there is a lack of insight or mistrust as to the financial picture – we can assist you in navigating the waters. Circumstances may require interim applications to deal with matters such as interim financial support or contested proceedings to resolve the financial aspects, and we will work closely with you to achieve the best possible result.

Separation Agreements

It is wise to consider whether you require a separation agreement if you are separating from a partner with whom you are not married (particularly in you own a property together or otherwise) and also in circumstances where there is a decision of a couple (married or not) to separate for a period of time or with the intention to divorce/dissolve the marriage in the future.  Such agreements can give you peace of mind to the immediate financial arrangements but also the longer-term financial arrangements.  At the appropriate time, it will need to be endorsed by the court, by way of a financial order, once divorce/dissolution proceedings have commenced and finances are being concluded. Such agreements can give clarity and comfort to both parties as to the future.

We can often offer this service on an agreed fixed fee, depending on the circumstances of your case, and this can be discussed at the outset of your matter.

Financial Order / Consent Order

A financial order is a document that sets out and determines what happens to your assets. A financial order can be reached by consent i.e. following negotiation or some form of dispute resolution which ends in an agreed order being drafted or imposed by the court should court proceedings be necessary and matters proceed to a final hearing where a Judge determines how your assets which will be dealt with and make an order in those terms.

Financial orders deal, so far as necessary for each case on its own facts, with income (spousal and child maintenance), property, pensions, savings and investments, debts and chattels.

The importance of having a financial order if you are going through a divorce or dissolution can not be underestimated.  Not only does it formally regulate any ongoing financial responsibilities such as spousal or child maintenance, payments for insurances such as life or health, payments towards the mortgage and/or other property outgoings, it also (in whole or part) brings an end to claims being bought in the future by one party against the other in life and in death. The obtaining of a decree of divorce/dissolution or nullification does not bring an end to financial claims arising as a result of your marriage or civil partnership.

It is important that both parties understand there is a need to make full and frank disclosure of the assets to enable both parties and their legal representatives to understand the overall financial picture. Furthermore, any order made by consent must be approved by the court before it becomes a binding and enforceable court order.