What is a civil partnerhips and divorce financial settlement?
The term is usually used when a marriage or a civil partnership end. A financial divorce settlement is an agreement between the two sparring spouses on how they will separate their money and assets. Such a settlement usually is part of the divorce proceedings. In a civil partnership dissolution, one can also reach a financial settlement.
Once the parties have reached an agreement, a family law solicitor will complete the process by drafting a consent order to make the document legally binding. A judge must approve such an order.
However, sometimes there is no agreement and the matter has to proceed though the court. We will advise you on if this is necessary and, where it is, we will guide you through the process.
What can I expect from my divorce settlement?
There are no guarantees as each situation is unique, but generally, financial settlements are about:
- Savings and investments.
- All property – including businesses that the parties might own.
- Life insurance policies and pension.
- Vehicles, furniture and appliances
- The division of loans, credit card liability and any other debts.
- Child maintenance and spousal maintenance payments.
Cvivl Partnership and divorce financial settlements, as part of family law, can be highly complex. The court usually has the discretion to decide who gets what. Besides child maintenance, there is no accurate forecast of what financial settlement you can expect.
As your family law solicitors, we can look at previous decisions in case law for England and Wales, and it can sometimes be helpful to see how the court applied Section 25 factors. The reality is, however, that there are no hard and fast rules on who gets what in a divorce settlement. Your best bet would be to have an experienced family law solicitor on your side.
We will review your circumstances and your finances. We will ensure that your receive the best outcome that you can, based on you and your spouses financial position. Getting the best outcome is always our priority for you.