Divorce Financial Settlement
If you are facing divorce or separation, one of the most stressful issues is how family assets should be split to achieve a financial settlement on divorce. 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.
You may be worried about what should happen to the family home or how assets such as businesses, pensions, savings should be divided and whether the payment of maintenance – either to your former partner or children – is necessary. A financial settlement specifies how the financial issues arising from a separation 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.
For immediate assistance, please call us now on 01572 490 660 or complete a Free Online Enquiry.
I recently contacted James Belderbos for advice as my marriage was in a difficult position. We had a good chat and the advice and help he gave me was excellent. He did not tell me just to get a divorce but discussed whether I actually wanted one and how I might try and work things out with my partner which is what I’m going to do. Not everyone might have done this but James went the extra mile and I really appreciated his help.
Mr Q Melton Mowbray, Leicestershire
Examples of the dispute resolution methods our solicitors use to achieve a financial settlement on divorce are –
●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 aspects. It is a cost-effective process which facilitates full and frank discussion between the parties without the threat of litigation looming and often leads to an agreement which 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
Mediation is a process where an independent third party, the mediator, assists couples reach agreement on the issues arising from their separation, including the financial element. Mediation can be tailored in a way suitable to those involved. This may be with you, your partner and the mediator round a table, the mediator moving between separate rooms or a hybrid version where you sit with your solicitor. It can also be facilitated using 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 where a couple seek to reach agreement between themselves, an arbitrator decides the issues and their decision is final and binding on the parties.
Save 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. The parties also have more control over the process; they can appoint an arbitrator of their choice (usually a retired solicitor, barrister or former judge) and choose the time and date of the hearing, which can take place in a solicitors 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. They prepare your case and represent you or arrange a barrister for the hearing.
As we tailor our advice to you and there are other options including early neutral evaluation which may be suitable. Full details can be given in an initial meeting when we understand your circumstances.
You will need to disclose details of your financial situation at the outset of any dispute concerning finances before you reach a financial settlement, regardless of the resolution method pursued.
Going to court to achieve a financial settlement on divorce.
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 including –
- 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.
How can a solicitor help you sort out a financial settlement on divorce?
Our Rutland and Leicestershire-based team of divorce financial settlement solicitors are experts in the field. They are empathetic, supportive and approachable. They understand the emotional impact divorce can have on a family and give sensitive, straightforward advice to help you understand your position and ensure the right outcome is achieved for you in the least acrimonious way. They strive to avoid the involvement of the Court wherever possible, seeking to resolve issues including financial settlement using proven alternative dispute resolution methods.
If your case proceeds to litigation, our specialist solicitors will work closely with you to gather all relevant evidence and present your position in the best possible way to the Judge. They will sensitively address any concerns, help you understand the court process, advise and assist you to minimise the stress caused.
If you would like to find out more about the best way for you to achieve financial settlement in your divorce or separation, please call Belderbos Solicitors on 01572 490 660 or complete a Free Online Enquiry for a free initial discussion. We are specialist family solicitors here to help you. We look forward to seeing you in Oakham or online.
Mr Belderbos represented me. I now have extensive contact with my children despite many difficult challenges – it has changed my life and that of my children for the better.Obviously a talented and knowledgeable lawyer, just as importantly, James was patient, supportive and understanding – exactly the sort of person you need on your side in difficult times.
Mr B, Yorkshire