A financial settlement determines how the financial matters arising from the breakdown of a marriage or civil partnership will be dealt with. It can cover property, savings, investments, pensions, business interests, debts and, where appropriate, ongoing maintenance.

It is important to consider obtaining a formal consent order even where you and your former spouse have reached an agreement. An informal agreement is not automatically legally binding. A consent order approved by the court can formalise the agreement and, where appropriate, provide for a clean break.

If you cannot reach an agreement, you may be able to apply to the court for a financial order. The court can consider matters such as property, pensions, savings, investments, income, financial needs, earning capacity and responsibilities towards children when determining the appropriate outcome.

There is no automatic rule that all assets are simply divided equally. The court considers the circumstances of the case, including the parties’ financial resources, needs, earning capacity, responsibilities and the needs of any children. The length of the marriage and other relevant circumstances may also be considered.

Not necessarily. Depending on the circumstances, possible arrangements may include selling the property and dividing the proceeds, transferring ownership to one spouse, postponing a sale or making another appropriate arrangement. The best option depends on factors such as the parties’ housing needs, financial resources, mortgage position and the needs of any children.

Yes, pensions can be considered as part of the financial arrangements following divorce or dissolution. Depending on the circumstances, options can include a pension sharing order, pension offsetting or other arrangements. Specialist advice may be appropriate where pension values or arrangements are complex.

A clean break is an arrangement intended to end future financial claims between former spouses or civil partners. Where appropriate, a clean break can help both parties become financially independent of each other. However, a clean break is not suitable or achievable in every case, particularly where ongoing financial needs must be addressed

Depending on the circumstances, the court may make an order requiring one former spouse to make regular payments to the other to assist with living costs. Whether maintenance is appropriate depends on the individual circumstances, including the parties’ income, needs and financial resources.

Yes. Many couples are able to reach an agreement through negotiation, mediation or another form of dispute resolution. However, an agreement should be properly formalised. If you want the financial arrangements to be legally binding, a consent order should generally be considered.

It is generally sensible to address financial arrangements alongside the divorce rather than leaving financial matters unresolved indefinitely. The timing of financial applications and orders can have important consequences. For example, GOV.UK guidance notes that there can be financial consequences, particularly concerning pensions, if financial matters are dealt with only after the final divorce order.

Yes. We can review your existing circumstances and court documents, advise you on the financial issues involved and provide appropriate representation and support throughout the proceedings. The assistance required will depend on the stage of your case and the complexity of the financial matters involved.