Reach a balanced financial settlement for a fresh start and peace of mind.
When a relationship ends, sorting out financial arrangements can be one of the most challenging aspects. The prospect of reorganising your finances to provide for two households can feel daunting. It is therefore important that the eventual outcome feels fair, reasonable and allows those involved to move forward with as much financial security and clarity as possible.
Even if your financial situation is relatively simple and you can reach agreement between yourselves, your settlement should be recorded in a consent order and presented to the court for approval. This ensures that the financial claims either of you could make are concluded in a binding agreement, removing any uncertainty for the future.
Why choose Wallace Robinson & Morgan?
At Wallace Robinson & Morgan, we know how important it is to approach all these conversations with care and expertise. Whether it’s deciding how to divide your home, pensions, business interests, savings, or making arrangements for child and spousal support, we are here to draft your required documents, support and guide you every step of the way.
How our solicitors can help:
- Expert Guidance
Our experienced solicitors have detailed knowledge and understanding of the approach that a court would take and what it would consider to be fair. This means we can provide clear advice and ensure you feel confident and supported throughout the process. - A Calm and Practical Approach
We focus on clear communication that is maintained throughout your case. We take a collaborative and constructive approach and aim to keep things as stress-free as possible for you and your family. Whilst most of our cases settle without the need to go to court, should a contested application be necessary, we will ensure your case is well presented. - Tailored Solutions
Every family is different, and we work with you to find solutions that suit your unique situation. Consideration is given to the needs of all involved particularly any children, and the resources available to help to meet those needs. We discuss your personal priorities with you and aim to help you to meet those personal objectives where possible.
Do we have to go to court?
For most people, the only involvement of the court is to request its approval of your agreement, which can be done via an online process. Agreements can be reached outside of courts via a variety of methods including:
- Mediation
- Collaborative Law
- Negotiations through solicitor correspondence or meetings
- Direct discussions between the parties
- Private hearings
- Arbitration
We can help you work out which method may fit best with your situation.
There are occasions where the methods listed above are unsuccessful. One party may refuse to engage, not provide the information needed, or you simply can’t reach an agreement on a particular issue. In those circumstances it may be advisable to make a court application to ensure your matter continues to move forwards towards a conclusion. Even if an application is made, the court will encourage you to continue to negotiate when possible and, if an agreement is reached which is approved by the court, this will bring the application to an end.
Frequently Asked Questions
Learn how to handle financial negotiations with confidence. Our FAQs provide the clarity you need to navigate these critical discussions.
For most people, the only time the court is involved in a financial settlement is on approval of a consent order. This is an order which documents the agreement reached between the parties.
There are various methods outside of court, available to help facilitate agreement between parties such as mediation, collaborative law, negotiations through solicitors, direct discussions, private hearings and arbitration.
A solicitor can help in various ways during a financial settlement. For example, solicitors can conduct negotiations and review documents to help ensure you reach a settlement that is fair and reasonable for your situation.
If parties have already reached an agreement, solicitors can formalise and record the agreement in a consent order.
Divorce can be a difficult time, and solicitors can provide a calm and practical approach to help you through the process.
This agreement means that finances are severed between the parties on divorce and the parties cannot make a claim for further assets at a later date if their circumstances change. The courts look to achieve a clean break where possible.
Pensions are treated as part of the marital pot on divorce. They can be shared by way of a pension sharing order which means that part of one person’s pension is transferred to the other person, or by offsetting where the person with less pension receives more of the non-pension assets in return for leaving pensions alone. It can often be difficult to accurately establish the value of pensions. Wallace Robinson & Morgan can provide clarification on these types of issues during a financial settlement.
Usually, it is the responsibility of each party to pay their own legal fees. Occasionally, a costs order can be made by the court for one party to pay the other party’s fees due to their conduct during proceedings.
What to do next?
Kathryn Ferris
Kirsten Wagner
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