Following the breakdown of a relationship, divorce and finances can often be one of the most difficult elements to sort out for a multitude of reasons. Where possible, it should be a priority to ensure that both parties are able to fund living independently from each other, childcare needs are met and any jointly accrued debts be addressed.
When it comes to legal rights, couples co-habiting without the legal bond of marriage or civil partnership are unfortunately not privy to the same as those that are married, however our experts are fully trained and up to speed with the latest legislations and can offer advice and guidance specifically tailored to your own individual situation.
Occasionally when it comes to finance, some parties can be less than co-operative when it comes to disclosing their current position with regards to assets, debts, income and expenditure, and so, if necessary, our solicitors can assist you through the court procedure of investigating financial circumstances.
Get in touch with our divorce financial settlement solicitors in Tonbridge, Kent
Call us on 01732 353305 if you need our help. Alternatively please complete our contact form and we will be in touch as soon as possible.
We have offices in Tonbridge, Maidstone, Gravesend, Chatham and Tenterden, where we can meet you to discuss your requirements.
We can also offer meetings by skype for clients who have to travel extensively or who now live abroad. In exceptional circumstances, home visits can also be arranged.
How our divorce financial settlement solicitors in Tonbridge can help you
Our Tonbridge financial settlement solicitors can assist with matters including:
- What should happen to the family home and any further properties you or your partner own, both here and abroad;
- How other assets or personal possessions should be split;
- How money in the bank and investments should be shared;
- What should happen to inherited money and income received from a trust;
- How pensions ought to be dealt with;
- How business interests should be valued;
- Who should be responsible for paying any debts; and
- The amount of maintenance that should be paid to you and your children.
How to get a financial settlement
To pursue a divorce financial settlement, first, assess your eligibility. Typically, financial settlements arise during divorce or dissolution of a civil partnership, and may involve assets like property, savings, and pensions.
- Legal Advice: Consult a financial solicitor with expertise in family law and divorce financial settlements. They will guide you through the process, ensuring you understand your rights and options.
- Financial Disclosure: Both parties must provide a full and honest account of their financial circumstances, including income, assets, debts, and liabilities. This is crucial for reaching a fair financial settlement in divorce.
- Negotiation/Mediation: Attempt negotiation or mediation to reach a financial agreement outside of court. Mediation involves a neutral third party assisting both sides in finding common ground.
- Court Proceedings: If a financial agreement for divorce cannot be reached, court proceedings may be necessary. Each party presents their case, and a judge will make a decision based on the evidence provided.
- Consent Order: If a financial agreement for divorce is reached, it should be formalised in a consent order approved by the court. This legally binds both parties to the terms of the settlement.
- Enforcement: If either party fails to comply with the settlement terms, legal action can be taken to enforce the consent order.
Remember, the process can be complex and emotionally challenging. Seek professional advice and maintain open communication throughout to achieve a fair and satisfactory divorce financial settlement.
Financial settlement FAQs
Is there a time limit for financial settlement after divorce?
There isn't a strict time limit for financial settlements after divorce. The financial aspects of a divorce, including the division of assets and ongoing financial arrangements, can be settled at any point following the divorce itself. However, it's generally recommended to address these matters as promptly as possible to provide clarity and closure for both parties.
After obtaining a divorce decree (known as the Decree Absolute), either spouse can apply for a financial order to formalise the financial settlement. This order can cover various aspects such as property division, maintenance payments, and pension arrangements. It's important to note that even after a divorce is finalised, financial claims can still be made in the future, unless a "clean break" order is issued, which aims to sever financial ties entirely.
While there's no statutory time limit, it's advisable to resolve finances soon after divorce to avoid complications and to allow both parties to move forward independently. Delays can impact the ability to accurately assess the financial circumstances, and changes in circumstances over time may necessitate adjustments to the settlement terms. Seeking legal advice and engaging in open communication can help streamline the process and lead to a fair and equitable financial resolution.
Can you get a divorce without a financial settlement?
It is possible to get a divorce without a financial settlement, but it is generally not recommended. While the divorce itself legally ends the marriage, it does not automatically resolve financial matters between the spouses. It's important to address financial aspects to ensure a fair and equitable division of assets and ongoing financial arrangements.
After obtaining a divorce decree (Decree Absolute), either spouse can apply for a financial order to formalise the financial settlement. This order can cover various aspects such as property division, maintenance payments, and pension arrangements. However, if both parties agree on a financial settlement and it is deemed fair by the court, they can choose not to pursue a formal financial order.
It's important to recognise that leaving financial matters unresolved can lead to potential complications in the future. Without a proper settlement, either party could make financial claims against the other even after the divorce is finalised. To achieve a clean break and legal closure, it's advisable to address financial matters during the divorce process with the assistance of legal professionals. This helps ensure both parties' interests are protected and provides a clear framework for their financial futures post-divorce.
How long does a divorce financial settlement take?
The duration of a divorce financial settlement process can vary widely depending on several factors. On average, it typically takes several months to a year or more to reach a resolution.
The complexity of the financial affairs, the willingness of both parties to cooperate, and the court's caseload all play significant roles in determining the timeline. If the divorcing couple can amicably agree on the terms of the financial settlement, the process may be quicker, especially if they opt for alternatives such as mediation or collaborative law.
However, if disagreements arise and formal court proceedings become necessary, the process can be more protracted. The court's schedule, the need for evidence gathering, negotiations, and potentially attending hearings can extend the timeline considerably.
It's worth noting that some divorcing couples may choose to prioritise a quick divorce decree and address financial matters afterward. While this is possible, it may not be advisable, as it could lead to unresolved financial issues and potential future disputes.
Seeking legal advice and guidance from professionals experienced in family law can help streamline the process and lead to a more efficient resolution. It's important to be patient, prepared, and open to negotiation to achieve a fair and satisfactory financial settlement.
Fixed cost initial appointment
We offer an initial 30 minute appointment to discuss your requirements at a fixed cost of £115 plus VAT.
Why choose Bailey & Cogger Solicitors for your financial settlement?
Our expertise has been independently recognised with accreditation from the Law Society for Family Law. This provides confidence that we offer a high-quality service in areas including civil partnership dissolution, financial settlements in divorce and arrangements for children.
Our Family Law team is led by Avril Croud, a family lawyer with more than 30 years of experience. As a member of the Law Society’s Family Law Panel, Avril is able to offer exceptional legal expertise and empathetic personal support.
Avril is supported by a very strong team, including Resolution accredited specialist and trained collaborative lawyer Deborah Nicholson.
We can also offer the services of our Conveyancing Quality Scheme (CQS) accredited Residential Property team for any property issues involved with your civil partnership dissolution, such as buying or selling a home, transfer of equity and remortgaging.
Get in touch with our divorce financial settlement solicitors in Tonbridge, Kent
Call us on 01732 353305 if you need our help. Alternatively please complete our contact form and we will be in touch as soon as possible.
We have offices in Tonbridge, Maidstone, Gravesend, Chatham and Tenterden where we can meet you to discuss your requirements.
We can also offer meetings by skype for clients who have to travel extensively or who now live abroad. In exceptional circumstances, home visits can also be arranged.