A financial settlement sets out how you can your partner will divide your assets and is legally binding. It can include:
There is a strict obligation on both you and your partner to fully disclose all financial assets, resources, circumstances and income.
There are several factors that will be considered before reaching a financial settlement including:
Within UK law there is no unified code for the division of assets in the event of a separation and therefore every case is unique. As such, yours will be judged on its own facts and merits.
Once you reach an agreement, the court will validate that agreement which may be in the form of a financial clean break order, making it legally binding. This ensures you and your family are protected moving forwards and no further financial claims can be made. There are occasions when there may be an ongoing maintenance liability, but this is something our experts can advise you upon.
In order to minimise the expense, hurt and disruption you might experience, we believe court proceedings should be a last resort.
Pensions can be as valuable as the equity in the parties’ family home – and sometimes significantly more valuable. It is important that all pension benefits are taken into account when the marriage ends.
It doesn’t matter what the pension is, all pensions can be shared (save the basic State pension) and are relevant.
However you decide to share the funds, pensions are complex. Anyone who gets divorced where they or their partner have pension benefits, and most now will, would be well advised to get expert advice from a family lawyer.
Our experienced family law advisors are specialists in securing a divorce settlement by negotiation, between you, your partner and their solicitor, with minimal acrimony. We can help you with: