Financial Settlements in Divorce
Whether you are a married couple or cohabitees, financial settlement solicitors at Newtons offer expert advice on sorting out financial and property issues following separation – including advice on pensions, maintenance payments, and financial settlements after divorce.
What is Financial Settlement?
Financial settlement refers to the legal binding distribution of finances and assets during the divorce process. These finances and assets include:
- International assets
- Rights to property
- Liabilities for debts
- Custody of children, as well as maintenance payments and fees attached to education
Sorting out immediate and future financial matters can be one of the most daunting aspects of separation and divorce. Our financial settlement solicitors aim to sort matters out in a fair and reasonable way that reduces antagonism. This is particularly important where children are involved, and our team will champion your case from the outset and focus on your objectives.
We can provide financial settlement advice on areas such as the family home, maintenance, savings and pensions as well as immediate concerns, such as, how you can keep going without getting into debt.
We aim to assist couples in reaching an agreement as to how their finances should be split without having to go to court. This can help to minimise the legal fees incurred by both sides. If an agreement cannot be reached, then it will be necessary to go to Court, the downside of which is that control is given to the Court.
Financial settlements take the following factors into account:
- The financial needs of children (as well as other factors that may affect their future wellbeing).
- Length of the marriage.
- Current earnings of each party.
- The potential earning capacity of each party.
- Assets of each party, including pensions.
- The standard of living the couple have enjoyed during the marriage.
- The financial contribution that each party has made to the marriage
- Other contributions that each party has made to the marriage (non-financial), such as caring for the children and running the house
What Will Financial Settlement Advice Cost?
We can provide an initial free consultation with one of our experienced financial settlement solicitors. We can then provide an estimate of costs.
To begin discussing financial settlement after divorce or ahead of the process, our financial settlement solicitors are here to help and advise.
Our family law team is here to help.
Please call us to find out how we can help. We have offices across Yorkshire, Teesside and County Durham including; Knaresborough, Harrogate, York, Ripon, Darlington, Richmond, Stokesley, Thirsk and Wakefield. We can talk on the phone or arrange a meeting where we can discuss your options and give you a clear idea of timeframes and costs.
Alternatively, please contact us online and we’ll call you back when it’s convenient for you.