Family Law Solicitors
We understand the importance of dealing with the financial aspects of a divorce or civil partnership dissolution. Our experienced family lawyers can help you reach a financial settlement with minimal stress and expense. Book a consultation today.
Head of Family & Partner
There are many ways of resolving your finances in separation, including solicitor-led negotiations, roundtable meetings and alternative dispute resolution, such as mediation and arbitration. In some cases, it will be necessary to issue a court application.
The process is essentially identical whether you are divorcing or dissolving a civil partnership. Whichever route you require, our specialist financial settlement solicitors will resolve your matter as efficiently, cost-effectively and amicably as possible.
Please note we use the term ‘solicitor’ and ‘lawyer’ throughout interchangeably, as a term that refers to anyone in the United Kingdom that is licensed to practice law, provide legal advice, or represent clients in court.
We can also advise on:
Please note that we do not hold a Legal Aid contract and are therefore unable to provide Legal Aid services. All family matters are undertaken on a privately funded basis only.
Call one of our team to discuss starting and financing your divorce application, your rights and how we can support you through this distressing time in your life.
Head of Family & Partner
“Vanessa Friend is the stand out partner in the team. She is exceptionally bright and knowledgeable. She secures fantastic results for her client. She is a very good negotiator and very personable.”
A financial settlement is a legally binding document outlining how you and your partner will divide your assets and wealth when your divorce is finalised.
It aims to divide your marital resources fairly so each of you can move forward independently, as soon as possible, while meeting your income and housing needs and those of any children. What is ‘fair’ will be based on your circumstances and in accordance with the factors as set out in Section 25 of the Matrimonial Causes Act 1973.
When you can agree the terms of a financial settlement, you’ll need to prepare a draft Consent Order setting out the agreement for the court’s approval. The sealed Order from the court will be a watertight document. If you can’t voluntarily agree with the terms, you may need to consider arbitration, mediation or a financial application to court.
The financial settlement will cover all financial claims arising at the end of a marriage, including claims relating to the division of assets, income, pensions, property and moveable items, such as cars, artwork and jewellery. It may also deal with maintenance for a spouse and/or children.
We recognise every couple has different financial needs and priorities. We’ll take time to consider what’s important to you and get the best possible outcome.
The ‘marital pot’ includes all assets gained during the marriage by either spouse for the benefit of the family. This can include the family home, even if it was owned prior to the marriage. Typically, these assets are divided equally, subject to adjustment in conjunction with S.25 of the Matrimonial Causes Act 1973. There are also non-marital assets to consider, which are those owned prior to the marriage and may be acquired as a gift or inheritance from third parties. These are not typically shared equally but may have claims made against them, again in conjunction with the Matrimonial Causes Act.
All financial settlements on divorce should be based on the exchange of full and frank financial disclosure. This is normally done by each party completing Form E, which is the court’s disclosure document. We can assist you with the preparation and exchange of your Form E.
The court process begins when you issue a financial application. Upon receipt, the court will give directions on progressing your case. This will include directing you and your spouse to exchange financial disclosure in Form E.
A financial application usually involves three court hearings, as set out below. At the Final Hearing, the judge will make an Order deciding the terms of a financial settlement. However, most parties settle between the first and second hearings or shortly afterwards. We will always aim to reach a negotiated settlement at the earliest opportunity even once proceedings have been issued.
This is a procedural hearing at which the court will decide what steps need to be taken in the case. This could include requesting you and your spouse to provide documentation, valuation evidence etc.
This is where a judge will review the information that’s been given and encourage you and your spouse to consider whether you can reach an agreement. If this isn’t possible, the matter will continue to a Final Hearing.
A judge will consider all the evidence, including witness statements and oral evidence from you and your spouse, and decide the terms of a financial order.
We appreciate your situation is unique. For this reason, we tailor our guidance to your circumstances to help you get the best possible outcome. We’ll make everything easy to understand and answer any questions you have every step of the way.
“The firm always puts your wants at the centre of things and always gives the best advice and path to take to try and get to that goal.”
Our specialist lawyers are experienced in navigating financial settlements and other issues around divorce. The department is led by Vanessa Friend, who has more than 15 years’ experience and is listed as a leading lawyer by Wiselaw. All lawyers in our family law department practice exclusively in the field and are members of Resolution and operate in line with their code of practice.
Numerous clients across the country appreciate our work on divorce financial settlements, as demonstrated by our ‘Excellent’ Trustpilot rating with over 1,000 5-star reviews.
You can count on us to adhere to the highest professional and ethical standards. We’re regulated by the Solicitors Regulation Authority (SRA) and have accreditations in family finance, children law and TOLATA from Resolution.
We’re recognised as a leading firm by Chambers & Partners and the Legal 500. Plus, we’ve won or been shortlisted for more than 20 major legal awards in the last three years. You’ll find us listed in The Times Best Law Firms.
The time it takes to complete your financial settlement depends on the process you use, how complicated your financial affairs are, and whether your partner cooperates.
Out-of-court settlements are typically quicker, in some cases finalising in as little as six months. But the timeframe could be as long as two years if you have to go to court, as you’ll have to attend several court hearings.
Our specialist divorce solicitors can estimate how long it could take you to get a financial settlement when you explain your circumstances at an initial consultation.
The court decides what’s fair for your financial settlement by considering the details of your unique situation, including but not limited to:
Yes, you can complete a divorce without a financial settlement, although this will mean any claims are unresolved. Therefore, it’s advisable to reach a financial settlement as part of the divorce process, as this is the surest way of getting a fair settlement. Certain things can happen after a divorce that would make agreeing terms more difficult, such as either of your financial situations suddenly changing.
However, there are situations when it may be beneficial for you to wait before dividing your assets. For example, you could both get more money by reaching a financial settlement after waiting to sell your house when the property market is stronger. No two situations are the same, so get advice from our specialist financial settlement lawyers before making decisions.
No, you can’t technically get a financial settlement without getting a divorce. However, a separation agreement could be a suitable alternative if you and your partner aren’t ready to divorce. This agreement states how you wish to divide your finances and can potentially make it quicker for you to get a financial settlement in the future by informing the court’s decision. Our specialist family lawyers can give you guidance on which option could be more suitable after understanding your circumstances.
You’re entitled to ask questions and request documentation if you think your partner is hiding assets. It’s crucial to reach a fair financial settlement and this requires that you’re both honest about your wealth. Our experienced divorce solicitors recognise the signs that someone might be hiding assets, and we can use the law to ensure you get the settlement you deserve.
Yes, how long you’ve been married does have an impact on the terms of your financial settlement. The more time you’ve spent married, the more interconnected your finances are likely to be. All the different ways you’ve supported one another will need to be considered, as well as the assets you each brought into the relationship.
Yes. Being separated for five years or more does not stop you from getting a financial settlement.
Previously, five years’ separation was one of five grounds for divorce, but this is no longer the case since the introduction of no-fault divorce. This legal change only affected the divorce process itself, not a partner’s right to financial claims.
Until your financial settlement is made legally binding by a court order, all claims remain open. This means your ex-partner could claim against future assets, so formalising your agreement is essential, regardless of how long you’ve been apart.
You’re likely to become financially associated with your partner while married, as using credit together or opening joint bank accounts will show up on your credit reports. This association will continue after divorce unless you request a notice of disassociation from credit reference agencies.
You can do this after reaching a financial settlement and the marital assets have been split and transferred into sole names. If you don’t, any debt your partner accumulates on joint bank accounts or credit cards could impact your credit rating and limit your future lending options. And if you still have joint accounts or credit cards, you’ll be held liable for the entire debt.
Our expert solicitors can provide you with bespoke guidance on how to separate your finances and remove association on divorce.
Reaching a financial settlement on divorce can be an uncertain and worrying process. It isn’t something you should attempt without fully understanding your rights. Our expert lawyers are here to give you the guidance you need and help you secure a financial settlement that’s fair and meets your needs.
Hodge Jones & Allen Solicitors is proud of the many positive testimonials that we receive, reinforced by our ‘Excellent’ rating on Trustpilot. Please read through what some of our clients have had to say about their experience with our legal teams.
