When going through a divorce, it is essential that your finances are divided in a way that is fair and meets your needs, as well as those of your loved ones. Our experts in divorce settlements can help you get the right division of finances, ensuring that your settlement suits your circumstances.
At Watkins Solicitors, we tailor our approach to your unique situation and requirements. In most cases, we can secure divorce financial settlements amicably through negotiation or alternative dispute resolution. Where this is not possible, we have the strong litigation skills to get you the best available division of assets in court.
Our team hold the Law Society’s Family Law Advanced accreditation, recognising their exceptional skills and knowledge. Several of the team are also members of Resolution, the leading professional network for UK family lawyers.
Whether your marital finances are straightforward or more complex, we have the experience and proactive approach to ensure you are treated fairly in your divorce.
Contact our divorce financial settlement solicitors in Bristol, Bath, Hereford and Evesham
For tailored advice and support related to financial agreements on divorce, you can contact Nicola Harvey or Celine Conley.
Our divorce settlement services
Our divorce financial settlement services include:
Advice on your financial rights in divorce
When considering divorce or going through divorce proceedings, you should seek expert legal advice as soon as possible. This can give you clarity over your rights and options, so you can go into the process with a sensible idea of what is achievable.
We can provide clear advice on your divorce financial rights and the different approaches you can take to achieve a settlement. We can then guide you through the whole process of achieving an equitable division of finances.
Negotiated divorce settlements
The vast majority of divorce financial matters are now resolved through straightforward negotiation between the separating couple or alternative dispute resolution methods such as mediation. This is generally in everyone’s best interests as it is much faster and less costly than court proceedings. It also keeps your financial matters private and the final decision in your hands.
Our experts can support you with negotiating a settlement and help you to prepare for processes such as mediation. We can also advise on any divorce settlement you agree to make sure it is in your best interests.
Court applications for Financial Orders
If you cannot agree a settlement or an amicable approach would not be suitable, then you will need to apply to a court to decide on the division of finances. Both spouses will need to present evidence about their financial resources, their reasonable needs and any other factors that may affect the court’s decision. The court will then make a Financial Order setting out how the couple’s assets should be split.
We can assist with preparing your case and represent you during court proceedings, making sure your position and rights are clear and well argued. We can also advise on the outcome, including whether an appeal may be appropriate.
Consent Orders
When you have reached a voluntary divorce financial settlement, the agreement is not automatically legally binding. To make it so, you must apply to a court for a Consent Order. Once this has been granted, the terms of your settlement will be legally binding on both parties.
Our divorce financial settlement solicitors can apply for a Consent Order on your behalf, making this process quick and straightforward.
Clean Break Orders
One of the most important things to consider when reaching a divorce settlement is the risk of future claims by your former spouse. Simply reaching an agreement or securing a Consent Order does not mean the matter is settled for good. You also need to apply to a court for a Clean Break Order, which legally severs the financial link between you and your former spouse. Once this is in place, you are protected from any future claims.
We can help you to secure a clean break divorce settlement through such an Order, giving you certainty over your current and future financial security.
Frequently asked questions about divorce settlements
Who gets what in a divorce settlement?Exactly how finances are divided in divorce will vary considerably from case to case, so you should not assume that what someone else has achieved will be the same for your case.
Where you are able to reach an amicable settlement, then what you get will depend on what can be agreed with your former spouse. If you need to rely on the courts to decide how your assets should be split, then they will look at various factors, which are covered below under the heading ‘How is a divorce settlement calculated?’.
What am I entitled to in a divorce settlement?What you are entitled to in a financial settlement for divorce in the UK will heavily depend on the financial assets available and each party’s ‘reasonable needs’ as well as the needs of any children. You should not assume your assets will be split 50:50 as things are usually much more nuanced than this.
Other factors (covered below) may also affect what you can realistically achieve, so it is important to get expert advice on this at an early stage.
How is a divorce settlement calculated?If you are able to reach an amicable financial agreement in divorce, then how it is calculated will be up to you and your spouse. If you need to rely on a court, then there are strict criteria that will be used to decide what is fair. While you are not bound by these criteria when making a voluntary divorce financial settlement, understanding them can give some perspective on what is realistic.
The factors a court would look at include:
- The assets available and whether they are considered marital assets or not
- The income and earning potential of each spouse
- The reasonable needs of each spouse
- The needs of any children
- The standard of living enjoyed by the couple during the marriage
- The length of the marriage
- The financial and non-financial contribution each spouse made to the marriage
How is a pension split in divorce proceedings?Pensions will need to be considered as part of a divorce settlement. There are broadly three options for dealing with them:
- Pension sharing – Each spouse would be given a share of the pension pot so they can have their own separate pension.
- Pension offsetting – The spouse without a pension or with a smaller pension is given a greater share of other assets (such as the family home) in exchange for giving up their right to a share of their former spouse’s pension.
- Pension earmarking – A percentage of one spouse’s pension is paid to the other on an ongoing basis. This option is rarely used as it creates an ongoing financial link between the spouses, which is usually not desirable.
Can you divorce without a financial settlement?Yes, it is possible to get divorced without making a financial settlement, but this is rarely advisable. Making a settlement gives you certainty over your financial future and protects you against the risk of future claims from your former spouse.
Even if you and your spouse are in complete agreement over how your assets should be divided, you should still get an agreement in writing. You should then make this binding with a Consent Order and get a Clean Break Order to protect against future claims.
Will I get a better settlement if the divorce is not my fault?Legally, the issue of whose “fault” the divorce is will almost certainly have no bearing on your entitlement. A court will not normally take fault into account, unless one spouse’s conduct has been such that not taking it into account would be inequitable. However, such a situation very rarely applies.
If you are negotiating a settlement, then one spouse being “at fault” for the divorce could potentially have an impact if that person is then willing to offer a better deal because they feel guilty. However, this should not be assumed or relied upon.
Contact our divorce settlements solicitors in Bristol, Bath, Hereford and Evesham
For tailored advice and support related to financial agreements on divorce, you can contact Nicola Harvey or Celine Conley.
