Divorce Financial Settlement

Divorce Financial Settlement
We’re renowned for our experience in handling divorce financial settlements amicably for our clients. We will guide you through all the aspects of your financial settlement including common issues such as.

  • Entitlements to maintenance (spouse or child)
  • How to divide a matrimonial home  (i.e. whether it’s transferred to one party or put up for sale)
  • How to divide other assets, including shares, stocks, ISAs, PEPs, premium bonds and savings
  • Whether a lump sum is payable and when
  • How we can deal with pensions
  • What could happen to the family business
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Common or complex, we ensure your financial negotiations are professionally handled, without any animosity and civilly. Our approach allows our clients to save time and money.

Advantages of an amicable negotiation process in a divorce financial settlement

Clients often ask why should they go down the amicable route instead of instructing solicitors to get as much money for them.

They feel that by going to court over the finances that they would possibly get more of the money/assets.

We believe overall, most people could settle their cases, out of court. Going to court is expensive, time-consuming and worst of all, there is no guarantee that you will get the result you desire.

Our Message is Simple:-

Negotiations between parties will be at a faster rate and at a much lower cost. You minimise the impact of divorce on your children and save a lot of time and money. Those are the biggest advantages but here are some more:

  • You retain control of your finances, not your solicitors or judges
  • It is a dignified and non-contentious approach, therefore, keeping your stress levels down
  • Children’s interests are genuinely kept at the forefront
  • You set the pace – there are no court deadlines to follow or hearings to attend
  • You may both be able to maintain amicable contact after divorce – which important if you have children

At Divorce Negotiator, we dedicate ourselves to helping you find the best solution by agreement, rather than through conflict.

How long does the negotiation process take?

An acrimonious solicitor led court divorce can take up to 18 months or more. The amicable negotiation process takes less time because you make your own decisions and you are not driven by a court-imposed timetable. We build the negotiation process around your family’s individual timetable and priorities. Some couples resolve their disputes within a few weeks whereas some take a little longer. The timescale is largely dependent upon you and what is important to you.

Frequently Asked Questions

Here are some common questions:-

I have made my own agreement – do I still need a negotiator?

If you have reached an agreement with your spouse how you are going to split your finances, you will still need to have this formulated into a legally binding agreement which our experienced negotiators can help you with. We will draft the agreement in the legal terms and submit it to court for you so a judge can approve it.  It needs the approval of a judge otherwise it is not an approved order.

We don’t have anything – do we still need a financial settlement?

Getting a financial settlement is not compulsory. In fact, many couples divorce without ever getting a financial settlement and/or a consent order. Common reasons people give for not getting a financial settlement/consent order are:

  • We have nothing to share
  • I bought the house before we married and my partner doesn’t want anything to do with it
  • We trust each other, my partner would never make any claims.
  • My partner has made it very clear s/he does not want anything
  • We split years ago and we’ve moved on.
  • We have our own agreement between us and we are happy with that

What we say is:

Divorce ends your marriage, it does not end your partner’s ability to make a financial claim upon you at any time.   Even years after you have finalised your divorce and unlike civil claims, which stop you from suing someone after six years. There are no deadlines to bring a financial claim in the family courts.  So, there may always be a level of uncertainty, especially if your financial circumstances change after the divorce.  People often dismiss the notation that their financial circumstances will change in any meaningful way which will put them at risk.  Usually, because they associate the term ‘change of financial circumstances’ to suddenly become a rich millionaire. But a change of financial circumstance need not be so drastic. As life progresses, most of us will go through changes in our financial circumstances.  Our family homes increase in value, we may inherit money, or increase your net worth after combining income/assets with a new partner.

Alternative Outcomes

We have encountered many couples who had a mutual understanding, which subsequently fell apart after the reality of the divorce had set in. There have also been some very high profile cases where a spouse has come back years later to make financial claims upon the other. One successful claim made 20 years after the divorce had finalised,  hit the press because the parties had nothing at the time of the divorce, but one party had become very wealthy post-divorce.

Let us assume that you do not have any assets today.  However, assets that you accumulate after divorce are at risk if you did not have a financial settlement at the time of your divorce. The simple solution to remove any uncertainty in the future. Have a consent order drawn up and agreed by a Judge and if you have no assets this would be a simple process with little cost.

What if my partner has a solicitor?

If one party wants to instruct a solicitor, we can still assist both of you with negotiations, or just you alone by communicating with your partner’s solicitor. Our approach is flexible so we can tailor our service to meet your individual needs.

Many parents give their children money and inheritance early. In this difficult age to get on the housing ladder, it is not uncommon. Some parents give to the couple when they get married. But, when the marriage fails, is the other party entitled to a share?

The answer is quite straightforward, sometimes yes and sometimes no. But in every case, there is a moral to be upheld. That moral follows only on the reason for divorce and who broke the marriage down. How long the parties were married. Did the parents give to both or one? Is their documentation to show what the intention was? If only there was a simple answer. Lawyers have spent hundreds and thousands of people money over the years to fight the very same question. Sometimes the costs have been much higher than the money in question. This is what I call the money principle. If you know someone in the predicament ask them to contact us.

McKenzie Friend

Throughout each court appearance, Divorce Negotiator can assist you as a McKenzie friend. This will be considerably cheaper than using a solicitor and a barrister. A McKenzie friend is not a solicitor or barrister but a person who can assist you through the legal process.

Going to court can be a daunting process, so having an expert at your side will ease any nerves you have.  Having somebody to lead negotiations on your behalf will ensure you receive a fair deal.

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Divorce Financial Settlement was last modified: May 20th, 2021 by Carol Sullivan

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