Solicitors in Putney and Chiswick
Divorce & Financial Agreements
 
Divorce & Financial Agreements
If you are going through a divorce, you will need to put a financial settlement in place to prevent claims against you at a later date. The agreement will also give you some certainty over your finances and help you make plans for the future.

At Gibson Young Solicitors, we have extensive experience in agreeing strong financial settlements for our clients. We understand how difficult it is to deal with the breakdown of a relationship and how to divide assets in a divorce and you can be assured that we will provide the support and guidance that you need.

Our family law team are excellent negotiators and we are generally able to resolve issues surrounding divorce and finances without the need for a court hearing. 

Divorce and Finances
Our divorce financial settlement services include the following:
• Advising you on your options for dividing your assets and liabilities
• Dealing with financial disclosure 
• Drawing up and negotiating a financial settlement
• Supporting and representing you through mediation where necessary
• Asking the court to seal your financial settlement agreement, making into a legally binding order
• Bringing or defending a court case where agreement cannot be reached
• Enforcement of a financial order

For more information about our divorce services, see Divorce and Dissolution of Civil Partnerships.

Contact our SW15 solicitors about a financial settlement in divorce.

If you would like to speak to an expert divorce solicitor in SW15, ring us on 020 7924 2919, email us at reception@gibsonyoungsolicitors.com or fill out our Contact Form.

How our SW15 lawyers can help with financial settlements in divorce.

Separating financial matters in a divorce can be difficult, particularly where you have a shared home. We will discuss with you what your priorities are and suggest possible solutions so that you achieve the best possible outcome.

We know how stressful financial uncertainty is, and we will do all we can to ensure that you have the security you need for yourself and your family.

Our solicitors are members of the family law group Resolution, which focuses on a conciliatory and non-confrontational approach to divorce and separation. We always try to deal with issues without the need for litigation wherever possible. This is generally a faster way of resolving issues, as well as preventing a relationship from deteriorating further. It is also more cost-effective than court.

Divorce financial agreement FAQs

Do I have to disclose my assets on divorce?
It is important that both parties make a full and frank disclosure of all of their assets prior to negotiating a financial agreement. The disclosure should include documents by way of evidence.

Where there is a failure to disclose assets, the court may decide at a later date to set aside an order and make a new one taking into account the non-disclosed assets. The party at fault could also be held in contempt of court.

How are finances split in divorce?
If the court is asked to make a financial order, it will aim to split assets fairly between a couple. This might not mean an equal sharing however, as it will take into account a number of issues, including the following:
• Assets, both current and in the foreseeable future, to include income
• Financial needs, both now and in the future
• The parties’ standard of living during the marriage
• The parties’ ages and the length of the marriage
• Contributions made by each party to the family, to include looking after the home and caring for children, which is considered to be equal to working
• Any disability that either party may have
• Loss of benefits, such as pension entitlement

How is a shared home dealt with in divorce?
The needs of any children of the relationship will be prioritised, meaning that the main carer may be given the right to stay in the family home. If the property is transferred to them, then generally the other party will receive a larger share of other assets by way of compensation. This could be a lump sum payment or pension entitlement.

Alternatively, the court may order the sale of the property where there are no children or where there are sufficient funds available to buy a suitable smaller home. Sale could also be deferred until the children reach the age of 18.

Is a financial settlement legally binding in divorce?
Once you have reached agreement on how your finances will be dealt with, your solicitor can ask the court to make the agreement into a consent order. This is a legally binding order and you will be able to enforce it in the future, should you need to.

Is a pension shared in divorce?
It is often the case that a substantial amount of money has been put into pensions and the law provides that a pension can be shared on divorce. This is either done by asking the court to make a pension sharing order, so that one party is given a portion of the other’s pension, or a pension attachment order, so that one party is entitled to receive part of the pension income when it becomes payable.

Alternatively, the value of a pension can be offset against another asset, such as the matrimonial home.

What financial orders can a court make in divorce?
The court has a range of orders available to it in dealing with finances on divorce, as follows:
• Consent order – where the parties have agreed a financial settlement between themselves
• Clean break order – ending the right to make a financial claim against a former spouse
• Pension sharing order – dealing with pension entitlement
• Property adjustment order – setting out what will happen to the matrimonial home
• Maintenance order – where one party is in a financially weak position, maintenance payments may be ordered to give them an income
• Lump sum order – payment of a sum of money to one party, often in return for another asset such as a property or pension.

Am I entitled to maintenance in divorce?
There is no automatic entitlement to maintenance in divorce. Where one party is in a weaker position financially, they may need income to support them. The courts prefer that this is just for the short term until they are able to train or find a job or until the children of the family reach 18. Maintenance ends on remarriage of the receiving party.

How long after a divorce can you claim assets?
There is no limit on the time frame for making a financial claim after divorce.

Can you get a divorce without a financial settlement?
While you can get a divorce without a financial settlement, it is important to make sure a financial order is put in place at the time. Without either a consent order or a clean break order it is open to the other party to make a claim against you decades into the future. This is because marriage is considered to be a financial commitment for life and without an order of the court, this commitment continues, even where you are divorced.

Contact our expert London divorce and financial settlement solicitors SW15.

At Gibson Young Solicitors, we offer both legal expertise and outstanding client service. We are friendly and approachable and our divorce and financial settlement advice is clear and straightforward. 

If you would like to speak to an expert divorce and financial settlement lawyer, ring us on 020 7924 2919, email us at reception@gibsonyoungsolicitors.com or fill out our Contact Form. All initial enquiries are free of charge and without any obligation.

Putney Office: 1 & 2 Crescent Stables, 139 Upper Richmond Road, Putney, London SW15 2TN
The Scales of Justice

We believe in dispute resolution

In a majority of these cases a positive outcome is achieved by negotiation between solicitors and agreement between the parties. We can advise you on your rights and chances of success and the possible value of a claim. We emphasis negotiation and agreement rather than conflict and confrontation in the application of the principles of law to the special circumstances of each individual case.

Please contact us or call us 020 7924 2919, if you would like to discuss your matter further. All initial enquiries are completely free of charge and without any obligation.
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