Finances on Divorce

The aim of a financial settlement is to divide the marital resources fairly so that each of you can move forwards independently as soon as possible, whilst being able to meet your income and housing needs and those of any children. What is “fair” will be based on your particular circumstances.

When you’re able to 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 agree the terms voluntarily you may need to consider arbitration or a financial application to court.

The financial settlement will cover all of the 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 that 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 of the income and assets to which each party is entitled whether in England & Wales or anywhere in the world. It doesn’t matter in whose name the assets are registered or when they were purchased, even if this was before the marriage. The starting point is to include all of the assets before deciding on what a “fair” division is.

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 a Form E, which is the court’s disclosure document. We can assist you with the preparation and exchange of your Form E.