Financial matters following divorce

Once parties are divorced this does not sever financial ties between them. This can only by done when the Court makes a ‘clean break’ order, setting out the financial arrangements between the parties and ensuring that neither party can make any further financial claim against the other.

It is important to seek legal advice as early as possible following separation so that you understand what options are available to you and can make informed decisions regarding your finances.

Before any proper advice can be given we have to be sure that all relevant information about income and assets is available.

Certain situations in particular require specialist advice for example:-

Assets being in the name of one party only, including the matrimonial home and ensuring that the non owner is protected
Pensions – these can often be considerable and should not be overlooked
Business assets
Inherited assets
Non disclosure of assets by one party
Transferring or selling of assets to try and defeat the other’s entitlement
Debt and whether this is matrimonial

We will always endeavour to assist parties in reaching agreement, either via solicitors or at family mediation. In some situations this cannot be achieved and it may be necessary to make an application to court for a Financial Remedy Order.

In these circumstances the court will direct the parties to file full documentary evidence regarding their finances using a document called a Form E. A series of court hearings will take place. If agreement cannot be reached throughout the process, then a Judge will ultimately decide how the finances should be divided.

Resolving matrimonial finances can be complex and initially daunting. We adopt a thorough approach whilst ensuring that the advice provided is clear and constructive to enable you to conclude matters as swiftly and fairly as possible.