For initial legal advice on money matters in Divorce or Legal Separation call our Family Law Solicitors on 01618558357 or contact us online and we'll call you.
Your financial agreements should be formalised in a Court Order, only then is the agreement binding and if one person defaults on any part of the agreement, steps can be taken to enforce the Court Order.
The Court always retains the power to approve the Court Order or not. The Court is not there just to ‘rubber stamp’ a financial agreement, it has to ensure that it is fair and reasonable taking into account all the circumstances of your case.
How Do I Resolve Money Matters?
You should consider Family Mediation first, or our Family Solicitors can guide you through the process and negotiate a financial agreement on your behalf.
What Factors Does the Court Consider?
The law in England & Wales concerning financial disputes is discretionary and therefore uncertain. Each case is dealt with on its own facts with first consideration always given to the welfare of any minor children.
The Court will also Consider:
- The income, earning capacity, property and other financial resources which each party has or is likely to have in the foreseeable future.
- The financial needs, obligations and responsibilities that each person has or is likely to have in the foreseeable future.
- The age of each person and the duration of the relationship, the Court generally take into account periods of living together.
- Any physical or mental disability of either of the persons.
- The contributions each person has made or is likely to make in the foreseeable future to the welfare of the family.
- The conduct of the parties involved (in exceptional circumstances).
- The value of any benefit which a person will lose the chance of acquiring by reason of the separation.
When applying the above factors the Courts first priority is to meet both persons’ needs. Only if needs can be met will the Court entertain more complex arguments in relation to how assets were acquired and whether they should be treated as matrimonial property or not.
How Long Does the Process Take?
This depends on a number of factors for example, whether you have been able to reach an agreement in Family Mediation or whether financial proceedings are contested through the Courts.
As a general rule Court proceedings can take 12-18 months whereas negotiated settlements can be reached relatively quickly.
Our experienced Family Solicitors and legal specialists can guide you through each step of the process. We pride ourselves in providing a commercial ‘no nonsense’ approach with the aim of keeping costs proportionate to your case.
For initial legal advice on divorce or separation money matters call our Family Law Solicitors on 01618558357 or contact us online and we will help you.
The family law team at Co-op Legal Services includes specialist Family Solicitors, Divorce Solicitors and Children Law Solicitors with Resolution Accreditation and Resolution accredited experts in child abduction, co-habitation, domestic abuse, property disputes, high net worth money matters and financial advocacy.
Co-op Legal Services has offices in Manchester, Bristol and London.