Financial Settlement Solicitors
How a couple’s assets should be split is usually one of the most hard-fought aspects of divorce proceedings. Issues such as what should happen to the matrimonial home and how much spousal or child maintenance should be paid can cause considerable acrimony. Our financial settlement solicitors are experts in their field and will ensure that the settlement you receive when your marriage or civil partnership ends is fair and reasonable.
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What Is A Financial Settlement?
A financial settlement specifies how the separating couple’s assets should be divided. It should represent a fair and equitable split of the couple’s finances, taking into account the parties’ respective financial positions including their assets, liabilities and needs, and the needs of any children.
What Are You Entitled To In A Financial Settlement?
There are no hard and fast rules governing the division of assets during a divorce or civil partnership dissolution. Every couple is different, and so too are their financial needs. Whilst this individual approach allows for flexibility, it means that there can be no guarantees as to what you will receive in the financial settlement. However, our financial settlement solicitors’ vast experience in issues arising from the financial aspects of divorce enables them to give sound advice on the likely outcome in your case.
The types of assets you may be entitled to, or to a share of, include the following:
- The family home.
- Cash, including savings and investments.
- Businesses.
- Pension pots.
In addition, you may also be entitled to spousal maintenance in specific circumstances.
How Is A Financial Settlement Reached?
It is always preferable for a couple to reach a financial settlement in the least acrimonious way possible, particularly when children are involved. Our financial settlement solicitors always strive to avoid litigation, instead using proven alternative dispute resolution methods. Whatever route you choose, you will be required to give full and frank disclosure regarding your financial position to facilitate a fair outcome.
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Examples of the dispute resolution methods our financial settlement solicitors regularly employ include the following:
• Negotiation
Our family law solicitors are expert negotiators and regularly achieve favourable financial settlements for their clients through negotiations with the other party’s legal representatives. For discussions to succeed, both parties must be amenable to compromise, and discuss the issues openly and honestly. When they are, reaching a financial settlement through negotiation can resolve the issues quickly and cost-effectively.
• Mediation
Mediation is a popular form of alternative dispute resolution in family proceedings. It involves an independent third party, known as the mediator, working with the parties to reach a mutually acceptable financial settlement. Mediations are confidential and cannot be referred to in any subsequent Court hearings.
Our financial settlement solicitors have helped countless clients resolve their issues through mediation. They will be by your side throughout the process and at the mediation itself, protecting your position and advising on any proposed settlement terms.
The parties are obliged to attend a meeting to ascertain whether their matter is suitable for mediation before they apply to the Court for help.
• Litigation
Most couples are able to reach an agreement about the division of their finances themselves or through alternative dispute resolution methods, such as mediation. Unfortunately, however, some parties are simply unable to resolve their financial issues without the Court’s involvement. Either party can apply to the Court for a financial order, at which stage a Judge will decide how their assets should be divided.
The Court has broad discretion when dividing a couple’s assets and will seek to make an order that is fair and reasonable in the circumstances. The types of issues the Judge will consider when doing so include the following:
- What assets the couple has, and their value.
- The parties’ incomes and future earning potential.
- The length of the couple’s relationship.
- The parties’ ages.
- The needs of any children.
How Our Financial Settlement Solicitors Can Help
Our financial settlement solicitors understand that their clients approach them for help during a stressful, emotionally fraught time in their clients’ lives. They are approachable, friendly, and empathetic. They strive to ease the strain a relationship breakdown can cause by resolving the issues arising from a divorce or civil partnership dissolution, including the financial aspects, as quickly and amicably as possible. They will work tirelessly to protect your position, and that of your family, and achieve a fair and favourable outcome. By proactively reducing the burden of the legal aspects of your divorce or civil partnership dissolution, they hope to assist you in moving forward as positively as possible and building a positive future for you and your family.
Please call us now on 01603 672222 for a no-obligation conversation today or Click Here To Make An Online Enquiry.
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