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Resolving Financial Matters on Divorce

Going through a divorce is an extremely stressful process. It can become even more difficult if a couple cannot agree how financial matters should be resolved. 

Some divorcing couples are able to agree between them what should happen in respect of the assets of the marriage and whether either of them should provide ongoing support by way of maintenance to the other. In that case you may only need the assistance of a solicitor to help you draw up the court order, known as a ‘consent order’ which, when approved by the Court makes the terms binding on you both for the future.

In some cases, however, despite their best efforts, some couples can’t agree on a suitable settlement. In that situation, consideration can be given as to whether Mediation might be appropriate to assist you in reaching a resolution.

Mediation involves a couple meeting with an independent and impartial person. That person will help try and facilitate an agreement as to how financial matters should be resolved. They are not there to advise either of you but can offer guidance as to the options available.

If you are concerned that your partner has assets that they have not disclosed, discuss this with your solicitor before taking any steps yourself as the rules relating to this area are complex.

However, if you have a Pre-Nuptial Agreement, although currently not legally binding in the UK, if the agreement is fair to both of you and it has been properly prepared, it is likely that the terms will be upheld in Court. This will avoid the legal and emotional cost of a lengthy dispute over your financial matters.

Slater and Gordon Principal Family Lawyer, Vicki McLynn, advises, “Agreeing how financial matters can be resolved following a divorce can be very stressful. An experienced family lawyer can talk you through the different processes that are available and help to reach a quick and amicable solution.”

In a previous blog, Couples Living Together, About Your Finances we discussed the finances of un-married couples in the event of a separation.

Slater and Gordon Lawyers have the largest team of Family Lawyers in the country and offer both flexible pricing and fixed price family law and divorce services. Call our Family and Divorce Lawyers on freephone 0800 916 9055 or contact us online and we’ll be happy to help. Our UK contact centre is open 24 hours, 365 days a year.

Divorce Law, Divorce Lawyers, Separation and Divorce

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