FINANCIAL ARRANGEMENTS ON DIVORCE
Making your agreement legally binding
When a couple separates, the finances can often be the most worrying and confusing area for them.
A divorce or dissolution gives rise to a range of financial claims that can be made. It also allows parties to protect their assets from being disposed of or taken by the other party.
This area of law is complicated and entirely discretionary. Couples need to be careful to ensure they are not vulnerable in the short and long term but also that assets or income are not being attacked unfairly.
If you have any assets such as a family house or if one of you has a pension or if you want to claim maintenance I can advise and assist you in relation to the financial arrangements that need to be made.
It is only possible to give you general information in these pages.
Generally though, you should try to reach an agreement about the financial arrangements that are to be made if you are divorcing or separating.
If you can’t reach an agreement by discussing financial matters in a constructive way between yourselves then it is usually advisable to consider mediation before court proceedings.
Where one party is seeking to hide or dispose of assets, it may be best to apply to the court to make an order about the financial arrangements.
Whichever route is followed financial disclosure has to be provided by both parties and there can be a range of ‘answers’ within the bracket of what could be right, appropriate or a court could order.
If a person is in any doubt at all about what the outcome of their relationship breakdown should be they need to take specialist family law advice.
I can provide you with no-nonsense and easy to understand guidance. This might just be to confirm that what you have agreed with your ex-spouse or partner is appropriate.
But if you do not have any official paperwork if you agree about how to divide your money and property your agreement will not be legally binding, which means a court cannot enforce it.
If you want to make your agreement legally binding, I can help with the paperwork.
You need to get a solicitor to draft a ‘consent order’ and ask a court to approve it - this makes it legally binding.