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Financial Settlement

The following information relates to financial disputes within divorce or the dissolution of civil partnership proceedings. 

 

The laws relating to cohabiting couples separating and their potential financial claims are very different. Such claims would be based on Children Law or Property and Trust Law.

 

For more information about that contact us on 01245 349 696 or email Alexandra Dancey-Tucker at adancey-tucker@thblegal.com

 

There are alternative methods available to help you resolve your disputes following the breakdown of the marriage or civil partnership, other than court proceedings. These are mediation and collaborative law, but these may not be suitable for everyone and both parties have to agree to attend. If you are interested in finding out more about alternative methods then please contact us.

 

Orders available in Financial Settlement Proceedings

The Court has powers to make the following Orders within financial settlement proceedings:-

 

Maintenance for a spouse
Lump sum payments
Property adjustment
Ear marking in respect of a pension
Pension sharing

 

The Court may make an Order that covers any or all of the above. Not all of the Orders that are available may be suitable or appropriate in your case. Whether you would be successful in obtaining an Order in respect of any of the above depends upon the circumstances and both you and your spouse’s financial position. The factors that the Court has to take into account when deciding on whether to make any of the Orders above are:-

 

1. The welfare of a child of the family;

2. The income, earning capacity, property and resources of each person;

3. The financial needs, obligations and responsibilities of each person;

4. The standard of living enjoyed by the family before the breakdown of the marriage;

5. The age of each person and the duration of the marriage and relationship;

6. Any physical or mental disability of either party, or a child;

7. The contribution made by each person to the welfare of the family, including looking after the home and bringing up children

8. The conduct of each person, but only if it is so bad it would be unfair to ignore it;

9. Any serious disadvantage to either person which would be caused by ending the marriage; and

10. Any other circumstance that the court feel is reasonable to consider

 

Both you and your spouse would have a legal obligation to provide full and frank disclosure about your current financial position. This includes providing copies of bank statements, valuations of investments, businesses, property and pensions. Failure to disclose information can be costly.

 

For further information or advice regarding your own particular situation please contact us on 01245 349 696 or email Alexandra Dancey-Tucker at adancey-tucker@thblegal.com