Financial
Settlements

When you separate or divorce, you will need to consider how to divide your property, assets, pension and income, as well as how to discharge any liabilities. We pledge to provide every client with outstanding personal service and communication, unrivalled industry knowledge and a proven track record of successfully resolving matters requiring a financial arrangement.

If your relationship breaks down, Attwaters’ specialist Family Law team will assist you in achieving a financial arrangement (or ‘financial remedy’) and in the division of any property or assets. This applies whether or not you are married.

How do we achieve this?

If both parties are able to agree an arrangement between themselves, we can incorporate this into a draft Consent Order and present it to the Court. The Judge will be asked to make an Order without either party having to attend.

Alternatively, Attwaters’ Family Law team can assist you in negotiating terms and achieving a settlement. We can do this through the traditional route of making an application to the Court or through the alternative options of Collaborative Law or Mediation.

If you cannot reach an agreement, a Court will decide how your finances are to be split. The Court will look at the circumstances of each case and take the following into account:

• Entitlements to any maintenance for yourself or your child

• Whether the former matrimonial home be sold or transferred to one party

• Whether one party is to receive an immediate or deferred share of their interest in the home

• How all other assets should be divided, including shares, stocks, ISAs, PEPs, premium bonds and savings

• Whether either party should be awarded a lump sum

• Whether there are any pensions that need to be divided or shared

• Where fitting, what will happen to the family business (this is a further area of our expertise)

Obtaining a Financial Order

Once a financial arrangement has been agreed, it is important to obtain an order from the Court to make this legally binding. Many people do not realise this is necessary, but without a Court Order, your ex-spouse can legally ask you for further money or assets from you at any point in the future. There are two main types of financial order:

Consent Orders – these ensure that, after the financial arrangement has been agreed, neither party can make further financial claims against one another

Clean Break Orders – these are for couples with no assets to divide upon separation, but who want to ensure that all financial ties between them are severed.

Obtaining clear, high quality legal advice as soon as possible will ensure the correct issues can be identified and appropriate representations made.