Divorce finance lawyers
Reaching a financial settlement during a divorce or separation can be stressful
Our child and family law experts are here to help you resolve your money issues when your relationship breaks down
How Can We Help With Your Finances?
If you are facing divorce or separation, one of the most stressful issues you can face is how family assets are split to achieve a financial settlement.
You may be worried about what will happen to the family home or how assets such as businesses, pensions and savings should be divided. If you have children, you will be thinking about whether the payment of maintenance, either to your former partner or children, is necessary.
A financial settlement specifies how the money issues arising from a separation or divorce are to be addressed. Any agreement reached can be made legally binding by filing a draft consent order and some financial information so that the judge can understand how the settlement was reached.
With money matters, solicitors are often asked, How can I avoid going to court? This is not surprising because the court system is underfunded, and the delays and extra stress caused can make the experience long and expensive. There are several out-of-court dispute resolution methods we can help you with.
Frequently Asked Questions
Private financial dispute resolution
If you apply to court for a decision on financial matters resulting from your divorce, such as your family home, a shared business or a joint pension, the family law court will set out a timetable and process. One of the steps in that process is a financial dispute resolution, or FDR, which encourages a settlement between you and your ex-partner.
Private FDRs are like this but rather than being in court with a judge allocated to you, you choose the experienced solicitor, barrister or retired judge to give the guidance. Belderbos Solicitors can fulfil this role for you.
Early neutral evaluation
Early neutral evaluation (ENE) is a non-binding form of dispute resolution, which gives you and your ex-partner an initial ‘sense check' from a professional with expertise in the relevant field.
You both get a chance to know whether you’re on the right track from the outset and it makes it easier to reach a sensible settlement out of court. Belderbos Solicitors are experienced in acting for clients at Early Neutral Evaulation hearings, otherwise known as Private Financial Dispute Resolutions (FDRs).
The collaborative family law process
The collaborative family law process allows couples to work together, with the support of their professional advisors, to reach agreement on all aspects of their separation, including the financial side.
It is a cost-effective process which facilitates a full and frank discussion between the parties without the threat of litigation looming, and it often leads to an agreement that meets the individual needs of all parties, including any children. If you would like to sit side by side with your solicitor around a table with your former partner and their solicitor, then this may be for you.
Mediation
This involves an independent third party, the mediator, helping couples to reach agreement on issues arising from their separation, including the financial element.
Mediation can be tailored in a way suitable to all parties involved. This may be with you, your partner and the mediator around a table, the mediator moving between separate rooms or a hybrid version where you sit with your solicitor. It can also be facilitated using video conferencing, such as Zoom or Teams.
Mediators guide you through the process sensitively, creating a level playing field and ensuring you fully understand each step both before the process begins and during the mediation itself.
Arbitration
Where there is significant disagreement over finances, arbitration can provide a way to resolve the issues without incurring the time and expense of going to court.
Unlike the collaborative process or mediation, in which the parties seek to reach agreement between themselves, an arbitrator decides the issues and their decision is final and binding.
Except in exceptional circumstances, the parties cannot subsequently take the dispute to Court. Arbitration is a less formal procedure than litigation and so can prove less stressful. Other benefits include:
- you and your ex-partner have more control over the process
- you can appoint an arbitrator of your choice (usually a retired solicitor, barrister or former judge)
- you and your ex-partner choose the time and date of the hearing, which can take place in a solicitor’s office or even a hotel
Arbitration may be unsuitable in some cases, such as where there is a suspicion that a party may be hiding assets, but a specialist family solicitor can help you decide if your situation is suitable for arbitration. We can prepare your case and represent you or arrange a barrister for the hearing.
Note, whichever resolution method you choose, you will need to disclose details of your financial situation at the outset before you reach a financial settlement.
Solicitor-led negotiation
Lawyer-led negotiation, also known as solicitor-led negotiation, can be a highly effective way of helping you to resolve important family disputes outside of court, including financial matters.
With this method, you can address issues constructively, potentially saving yourself time, money and mental energy in the process. Our advice is that if you’re able to make a decision through lawyer-led negotiation, you’re likely to end up with a better, longer lasting solution than an outcome imposed on you by a court.
How does it work? In short, you appoint a family lawyer focused on your interests who then negotiates with your ex-partner’s lawyer. The outcomes will often depend on what these lawyers expect would be the result of any eventual court process.
A fair and satisfactory result can often be achieved without going to court when resolved using lawyer negotiation, and it can also be used alongside other processes such as mediation. Lawyer-led negotiation is a popular out-of-court route for financial disputes for those who want the reassurance of professional legal advice throughout the negotiation process. However, since April 2024 if you choose to make an application to court you will need to demonstrate that you have sought to resolve your dispute using non court dispute resolution (“NCDR”) . Whilst solicitor-led negotiation can be helpful the courts are unlikely to consider that on its own it is sufficient to be regarded as an attempt at NCDR. You can of course combine this with Early Neutral Evaluation similar to a Private FDR and mediation.
Whatever route is right for you avoiding court should be key to your decision-making process. We can help you make the right decision for you and your family.
Together with around 6,500 other family lawyers and professionals, we are members of an organisation called Resolution. Resolution members are committed to resolving family disputes, including financial, in a constructive way and we follow a Code of Practice that promotes a non-confrontational approach to family problems. Resolution encourages solutions that consider the needs of the whole family and are particularly focused on the best interests of the children involved.
Today, more than four out of five divorce cases will not end up in court. Indeed, the family law courts actively encourage people to resolve issues in a non-adversarial way. The many benefits of doing so include:
- reduces time and cost
- avoids the stress of going to court
- helps to avoid rifts developing between the parties
- benefits future communication and relationships
- have a much higher success rate
At Belderbos Solicitors, our highly experienced and qualified team are specialists in helping you to avoid court and complete a divorce or separation without the cost, stress and confrontation.
Our solicitors always seek to use the least confrontational method available to achieve a financial settlement in your divorce. Sadly, however, there are times when matters are irreconcilable and an application to court is necessary.
The Court has wide discretion when deciding the terms of a divorce financial settlement and will seek to reach a conclusion that is fair and reasonable to all involved. In doing so, it will take into account factors such as:
- the value of existing assets
- the couples respective future earning potential
- the length of time for which the couple were together
- any future benefit they might miss out on such as pensions
- the financial status of any new partner
- whether there are children – if there are, rehousing those children will be the first consideration where they are under 18
- These factors are more widely set out in section 25 of the Matrimonial Cause Act.
When couples separate or divorce, family courts can address a variety of financial issues, particularly if an out-of-court agreement isn't reached. Here's a breakdown of the key financial matters handled in family courts.
Division of marital assets
This involves dividing the marital assets and debts accumulated during the relationship fairly. Marital assets can include:
- Property - the family home and any additional properties or land
- Spousal maintenance
- Savings and investments - such as joint bank accounts, individual savings accounts, stocks and bonds
- Pensions - both private and public sector pensions accrued during the marriage
- Valuable possessions - for example, jewellry, cars and antiques
Child maintenance
While the Child Maintenance Service (CMS) usually calculates child maintenance payments based on the paying parent's income, the family court can intervene in some situations, such as:
- Determining school fees - if not already covered by the CMS calculation, the court may order additional contributions for school fees
- "Top-up" maintenance - For very high-income earners (above £156,000 per year as of 2024), the court can order "top-up" maintenance beyond the CMS calculation
Other financial considerations
- Pre-nuptial agreements - couples can enter into pre-nuptial agreements before marriage (usually out of court) to outline how finances will be handled in the event of divorce. These agreements, while not legally binding in the UK, can be considered by the court during financial settlements
- Post-nuptial agreements - similar to pre-nuptial agreements, post-nuptial agreements can be established after marriage to specify financial arrangements in case of separation. Again, these are agreed outside of court, but they can be taken into consideration in a financial dispute heard in court in the event of a divorce or separation
- Disclosure - full and frank financial disclosure from both parties is essential for the court to make a fair financial order. Financial advisors can assist with this process
In summary, the family courts do play an important role in settling financial disputes, such as ensuring a fair and equitable division of assets and sometimes addressing child maintenance needs. However, we do strongly recommend that you try to reach an out-of-court agreement. Whichever route you choose, we’re here to help you make the right decisions in seeking a fair financial settlement.
Belderbos Solicitors is ready to help
What Our Clients Say
James has been acting for my sister with her divorce. I was present at the first meeting and was impressed and pleased with the way he got her to open up and talk to him in a way that I have seldom seen her do. James has been very firm and honest with my sister throughout the process, guiding her to make difficult decisions, and acting in an empathic and professional manner at all times. I would be very happy to recommend James to anyone going through a similar situation.
Ms P, Leicestershire
James was recommended to me when I was new to the area and looking for a good lawyer to help me with my divorce which can be a painful process to go through.
For me in particular, this is true. It was necessary for me to end my marriage of 45 years which is the biggest step I have undertaken in my entire life but was absolutely right. At last, like some sort of chrysalis I am emerging to become the butterfly I always was. Throughout a difficult divorce James Belderbos offered both wise and succinct advice together with support. My gratitude is infinite. It is reassuring to know there are solicitors practicing who take their role seriously and professionally. James Belderbos is one.
JW of Mountsorrel
James was recommended to me when I was new to the area and looking for a good lawyer to help me with my divorce which can be a painful process to go through.
Not only was James extremely attentive to accuracy and detail, he showed compassion and kindness (a trait not often associated with lawyers!) and steered me towards reaching a satisfactory result with my divorce.
Ms B, Nottinghamshire
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