A long history of favourable financial settlements.
During a divorce one of the biggest worries is finance. At Grayfords we are financial specialists and have a long history of delivering favourable financial settlements to our clients. We are uniquely placed to provide expert advice on a wide range financial matters and can negotiate settlements with your partner on your behalf. Given our wealth of experience, resources and dedication you’re in safe hands at Grayfords.
We handle the broad issues concerning financial settlements including:
- Asset Division
- Asset discovery
- Child matters
About financial settlement proceedings
In most circumstances, the court seeks to achieve what is called a ‘clean break’. It tries to ensure that both parties are left in a position, after the settlement, where they are no longer financially dependent on the each other and can move forward with their separate lives. Maintenance may sometimes be ordered in order to enable parties have a more equal split of finances following the divorce but this is done less and less these days. In determining the level of maintenance to be awarded, the court is duty bound to consider the payees needs and earning capacity, the standard of living as a couple, and the payer’s ability to pay. It should be noted that there can never be a clean break in respect of children.
In making a financial order/settlement a number of factors are taken into account including the couple’s ages and length of the marriage, the couple’s standard of living, and any disabilities; these all help determine the financial needs of the parties. In addition, other considerations include the contributions of each party, in exceptional cases the conduct of the parties, and any benefits a party might lose as a result of the divorce.
The court will consider the welfare of any children under the age of 18 in the divorce when deciding on the financial settlement. Child maintenance is a separate matter and considered distinctly from the financial settlements reached by a couple. However, child maintenance could be agreed by the parties and set out in a consent order. The Court does not have jurisdiction to impose a decision on child maintenance except in a few specific cases that fall outside the remit of the Child Maintenance Service.
Will we need to attend court to reach a financial settlement?
A great many cases are able to reach settlement without court intervention where the parties and their legal advisers are able to reach an agreement.
Parties may have an agreement that they put before the court on paper for approval of their arrangements in the form of a Consent Order. They will not have to attend any hearings. Former couples who can’t reach such an agreement can take part in contested financial proceedings involving three stages and eventually resulting in agreement between them or the imposition of the court’s decision upon them.
In the scope of a divorce, there are a number of financial orders the court may direct for the parties. Financial orders can be put in place in proceedings to dissolve a civil partnership, annul a marriage or for judicial separation as well as divorce. Such financial orders could include: maintenance pending suit (maintenance paid on an interim basis until the split is concluded), lump sum orders, spousal periodic payments, pension sharing/splitting orders and property adjustment orders.
Grayfords deals with all matters regarding financial settlements. Feel free to book a consultation for more detail and clarification regarding a divorce or other legal proceedings related to a financial settlement to explore your options.
Our financial settlement solicitors are specially equipped to deal with asset deception and discovery. We have tools which allow us to uncover assets which have been hidden even in overseas jurisdictions. Our international family lawyers are experienced in recovering assets and dealing with highly complex financial matters, including financial settlements. We have the connections to provide an in-depth analysis of assets held and can advise clients of their potential entitlement.
We are experts in financial claims for children and can advise you on what your child entitlements are. We will shoulder your burden and negotiate child maintenance on your behalf and assist you to make sure your children’s futures are provided for. Even if you were never married, having a child together may entitle you to make a financial claim against the other parent on the child’s behalf.