Divorce Financial Settlement Solicitors

Instead, there are guidelines to follow.  The starting point is to share your combined assets equally but the following factors, known as the Section 25 factors, have to be taken into account as well:

(a)        the income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;

(b)        the financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;

(c)        the standard of living enjoyed by the family before the breakdown of the marriage;

(d)        the age of each party to the marriage and the duration of the marriage;

(e)        any physical or mental disability of either of the parties to the marriage;

(f)         the contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;

(g)        the conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;

(h)        in the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.

Our lawyers are experienced in helping you to find your way through those guidelines and achieving settlement whether by negotiation or through Court proceedings.

In most cases, it is meeting both parties’ reasonable needs, with the children’s needs whilst they are dependent being a first consideration, usually decides the settlement. This means that even cases with very modest assets can be challenging in order to meet both parties’ needs.

The Court can make Orders for the payment of lump sums, transfer of sale of property and other assets, pension sharing or attachments and maintenance.

Even if you are able to reach an agreement yourselves, it is important to have the terms of the agreement drawn up as a Court Order to ensure that it is legally binding and we can assist you in preparing the paperwork, explaining the procedure and obtaining a Consent Order from the Court.