The breakdown of a relationship is a distressing time for all concerned, and thinking about what happens to your finances can become overwhelming. It is advised that you seek the advice from a Family Solicitor to create a financial agreement between you and your ex-partner.

Initial telephone options appointment

Our expert Family Law team are here to take the worry off your hands. We provide an initial telephone options appointment to discuss funding for your circumstances. Please call 0330 333 2613 for a no obligation, initial discussion or email enquiries@elliotmather.co.uk and we will call you back.

What is a financial agreement/settlement?

A financial settlement is reached before Divorce Proceedings begin and outlines:

• Division of money, including savings and investments.
• Property, including the family home and any other properties owned together or individually.
• Pension provision.
• Vehicles owned.
• Any financial support, such as child maintenance or spousal maintenance.

How do you reach a financial settlement? 

There are a number of ways in which you can reach a financial settlement in an amicable fashion, with the most common options being:

• Couples can come to an agreement between themselves
• It is possible for the parties to attend mediation sessions.
• Family Solicitors can be instructed to negotiate a settlement.
• They can engage in the collaborative law process.
• The parties can use the arbitration process.

In some cases, where the separation isn’t amicable, or you tried the other methods and they were unsuccessful, going to Court is the only way to reach a financial settlement.

If attending Court is the avenue you wish to proceed, it is important that you have expert legal advice and representation throughout your matter. This is to ensure your best interests are protected when it comes to your settlement.

Making your financial settlement legally binding

When you agree to a financial settlement voluntarily (through the options previously mentioned), this doesn’t automatically make the document legally binding to either party. In order for the agreement to be legally binding, you will need to apply for a Consent Order from the Court.

What is a Consent Order?

A Consent Order is a legally binding document that is issued by the Courts. This document outlines the agreement you have come to regarding the division of your assets, including: money, property, pensions, savings and investments. It may also include any agreements regarding financial support (child maintenance or spousal maintenance).

How can I apply for a Consent Order?

In order to apply for a Consent Order you will need to instruct a Family Solicitor who will draw up the relevant paperwork for your application. Both you and your ex-partner will need to sign this paperwork before it is submitted to the Court for approval. A judge will review the application, and once approved, your financial settlement will become legally binding.

How we can help

Our dedicated team are committed to resolving all issues relating to your case, as swiftly and with as little confrontation as possible. This is an approach that will help limit the damage to you and your family, emotionally and financially.

The level of help you would like from us is entirely up to you. For further information, please contact us.

Location

Our Solicitors can provide expert advice across the country with a network of offices based in: Chesterfield, Derby, Mansfield and Nottingham.

How to get in contact

Our team are on hand to help you and can assist wherever you are based. Please call us on 0330 333 2613 for a no-obligation, initial discussion or email enquiries@elliotmather.co.uk and we will call or email you back.

• Family