Divorce Financial Settlement
A divorce financial settlement is a legal arrangement that determines how a couple’s finances
and assets are divided following divorce
Divorce Financial Settlement
A divorce financial settlement is a legal arrangement that determines how a couple’s finances and assets are divided following divorce. In England and Wales, finalising a divorce does not automatically end the financial relationship between former spouses. Matters relating to property, savings, pensions, and income must be resolved separately through a divorce financial settlement. This can be achieved either by reaching a mutual agreement formalised through a consent order approved by the court, or by applying to the family court for a financial
settlement order.
Securing a financial settlement during divorce is crucial because unresolved financial claims can resurface many years after the divorce has been completed. Under the law in England and Wales, former spouses may still bring financial claims against each other even after divorce, as there is no limitation period. For this reason, it is essential to formalise financial arrangements through a binding court order that clearly defines each party’s financial position and obligations.
What Is Divorce Financial Settlement?
A divorce financial settlement is the process by which a couple’s assets, income, and financial responsibilities are divided when their marriage ends. Divorce lawyers often refer to this process as ancillary relief, which covers all court orders relating to finances, property, and pensions. These orders may be made following divorce, judicial separation, dissolution of a civil partnership, or annulment proceedings.
When Can I Apply for Divorce Financial Settlement?
An application for a divorce financial settlement can usually be made after the family court has issued the Decree Nisi and once mediation has been attempted, where required. In most cases, financial matters are resolved during the divorce process itself. However, it is also possible to apply for a financial settlement after the divorce has been finalised. That said, it is strongly recommended to resolve financial matters before either party remarries, as remarriage can affect future financial claims
How Are Assets Split In Divorce Financial Settlement?
The final decision on how assets are divided rests with the judge. When determining how capital
and income should be shared, the court considers a range of factors, including:
- the financial needs and welfare of any children
- the financial needs of both spouses
- the length of the marriage and the ages of both parties
- current income and future earning potential of each spouse
- any health conditions affecting either spouse or the children
- all assets owned by each party, including pensions
- the standard of living enjoyed during the marriage
- both financial and non-financial contributions, such as childcare and homemaking
Only in rare and exceptional cases will the conduct of either spouse be taken into account when
deciding financial matters.
Specialist Divorce Lawyers
As specialist divorce lawyers in London, we offer fixed-fee divorce services tailored to your individual circumstances. Our experienced divorce solicitors will:
- review your situation and confirm your eligibility for divorce
- advise you on the steps to take before starting divorce proceedings
- guide you through the divorce and financial settlement process from start to finish
Recognised as one of the leading divorce law teams in London, our solicitors bring extensiveknowledge and proven experience in handling all aspects of divorce and financial matters.
If you are considering divorce in England and Wales, our fixed-fee divorce lawyers in London can provide expert advice and representation. We offer fast, friendly, and reliable legal services