Financial matters arising out of the divorce
Divorce Financial Settlements
In addition to filing the divorce petition at court, you need to consider your financial settlement. It is advisable to finalise your financial settlement before your divorce is complete. This is because you lose certain rights when you divorce. Our aim is to always resolve financial matters by agreement and when possible to agree a financial settlement by way of a consent order. Financial consent orders can be agreed through solicitor negotiations, or where appropriate, via mediation, arbitration and other forms of alternative dispute resolution methods.
When it is not possible to reach a financial settlement by agreement, we can advise and represent you in court proceedings. If you would like to have a no obligation and confidential discussion about your divorce and finances, please call us on 0207 467 3980 or contact us to request a call back.
What is taken into account when deciding a financial settlement?
The law is completely discretionary but the court has set out criteria which must be considered to achieve a fair outcome. Some of these factors include:
- The income, earning capacity and financial resources of each party
- The financial needs, obligations and responsibilities of each party
- The standard of living enjoyed by the family before the breakdown
- The ages of the parties
- The duration of the marriage
What orders are available in financial settlements?
The court can make the following orders:
- Transfer of property
- Lump sum payments
- Spousal maintenance
- Maintenance for the children
- Pension orders