Dealing with your finances in divorce
Going through a divorce is hard enough without worrying about what will happen to your assets and finances.
However, it’s essential that you deal with the financial issues following a divorce so that you can move with peace of mind that your finances are protected and no claims in the future can be made.
Agreeing to a financial settlement is often a sticking point with divorcing couples for many reasons, but mainly because they believe dealing with finances is unnessary or extremely expensivce.
Reaching a fair financial settlement following a divorce is imperative and it doesn’t need to cost you thousands.
Only 3/10 divorcing couples in England and Wales legally separate their pensions, which is in most cases is one of the most valuable assets within a marriage.
Use this section to read our detailed free advice on all things assets and finances in a divorce such as:
- What is a financial settlement?
- What are financial orders in divorce?
- What to do if your ex won’t agree to a financial settlement
- Can finances be dealt with in an online divorce?
Scroll down this page and visit the ‘Guides’ section to read more about finances and divorce; using this section will ensure that you are more informed on your financial issues and how best to move forward.
We’ve helped 40,000+ couples deal with their finances
If you have reached a financial settlement with your ex-partner, there is no need for you spend thousands on having a solicitor draft the necessary paperwork for you.
Hiring high-street solicitors to help you obtain a financial order will cost you thousands. Our service is so popular because it’s quicker, more stress-free and can save you thousands. Read some of our reviews below.
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Sorting out your assets and finances following a divorce should be a high priority, even if you think you have no assets to split. Obtaining a decree absolute through divorce proceedings doesn’t sever your financial ties and therefore not dealing with them by obtaining a financial court order can have future implications.
The only way to protect your assets and finances in the future is to have a court order approved by a Judge, which is done by applying for a consent order or clean break order, which will prevent any future claims being made against either party.
There have been many high-profile cases where spouse’s have gained large sums of money by claiming against their ex-partner, even up to 10 years after the divorce was finalised.
If a financial order isn’t obtained following a divorce then matrimonial financial ties still apply and if one parties wealth increases for a number of reasons, then future claims are possible. Even if you believe you have no assets to split, it’s always worth obtaining a court order to legally separate financial ties.
In 99% of cases we deal with there is no need to attend court to deal with your financial split. In a rare case, the Judge may ask both parties to write in and explain how they came to the agreement and ask specific questions relating to the agreement. This will only happen if the Judge believes the settlement to be unfair on one party.
To file a financial application, you need to complete the relevant forms, pay the court fee and submit it to the courts. When using our service, we deal with all of this for you and give you advice and guidance throughout the process.
How to reach a fair financial settlement?
Whether you are trying to protect your wealth or achieve a fair financial settlement, it’s essential that you receive professional legal advice, which our in-house family law solicitors can help you with.
The reason why reaching a financial settlement is so important is because the act of divorce itself does not sever the financial relationship between a husband and wife.
To end the financial relationship following a divorce, you must put your financial agreement into a legally binding court order, most commonly known as a consent order, but there are other forms of agreements that you can obtain.
To obtain a court order for your finances, you need to have a solicitor draft the legal paperwork where the agreement you’ve reached is clearly documented and presented to a Judge to rule on.
If you can’t come to an agreement on how assets, money and property for example should be split, then you can try these methods:
- Your solicitor can negotiate with your partner for you to get to an agreement
- Collaborative Law
- Go to Court