In a case illustrating the importance of candour regarding financial circumstances in divorce proceedings, a husband who failed to disclose the true extent of his wealth to family judges was...Continue reading
When starting divorce proceedings, you must also consider the separation of your finances.
Dealing with the financial side of divorce can sometimes be complicated, especially if you cannot reach a voluntary agreement. Even where you do agree a financial settlement, you should seek specialist legal advice as soon as possible to ensure the agreement is fair and meets your long-term needs.
Your financial remedy claim against each other will remain open until an agreement is reached and therefore it is essential to ensure that you have sufficient money available to cover your basic living costs and other financial obligations. You also need to make sure that you dismiss any further claims against your income and capital in the future.
Our experienced, pragmatic divorce solicitors in Hammersmith have extensive experience helping people from all backgrounds to deal with divorce and financial matters. Whether you are dealing with a straightforward separation of assets or need assistance with more complex and high-value assets, we have the expertise you need.
We can advise you on financial settlements agreed by consent, or when necessary, dealing with your divorce finances through the courts. Our team also have strong experience with pre-nuptial agreements and post-nuptial agreements and how they can be enforced or set aside during divorce proceedings.
Wherever possible, we will aim to achieve a financial settlement without the need for court proceedings, keeping conflict to a minimum. We regularly represent clients in court, so where a financial agreement cannot be reached or is not appropriate, we can give you the robust legal advice and representation you need to achieve a fair financial settlement.
How we can help you with the financial side of divorce
Financial Remedy Orders by Consent
In most cases, our divorce solicitors in Hammersmith can help you to agree a financial settlement with your ex-partner through solicitor negotiations. They will also suggest that you try mediation and other forms of Alternative Dispute Resolution (ADR) methods, such as Arbitration and Private FDR’s
This approach typically allows you to resolve the financial aspects of your divorce faster and at lower cost, while helping to keep things more amicable.
Financial Remedy proceedings at Court
Where you cannot agree a financial settlement by agreement, or feel this approach is not appropriate, we can represent you in divorce court proceedings to help you secure a financial order.
We have particular experience dealing with complex assets, such as company and business ownership, pensions, shares and investments, so can ensure your case is prepared and presented effectively to help you secure the best available outcome.
Interpretation of pre-nuptial agreements
An increasing number of couples now enter into pre-nuptial and post-nuptial agreements. Although pre-nup or post-nup agreements are not yet legally binding, in order to be enforceable, the court has set out certain criteria that they must meet, such as providing each other with financial disclosure before the agreement is reached and obtaining independent legal advice upon the contents of the agreement.
Our divorce solicitors regularly advise clients on the creation and interpretation of pre-nuptial agreements and post-nuptial agreements, so will be happy to guide you through using or challenging either type of agreement during divorce proceedings.
Common questions about divorce & finances
What assets are included in financial settlements?
The range of assets that can be considered during divorce include:
- Shares & investments
- Business assets
- Any other significant assets owned by either party
Is a pre-nup legally enforceable in the UK?
Pre-nuptial agreements and post-nuptial agreements are not currently legally binding in the UK, meaning a judge can choose not to consider the contents of the agreement when making a financial order. However, a judge will normally take a pre-nup or post-nup into account when deciding how a divorcing couple’s assets should be divided, as long as the right steps were taken when the agreement was originally made.
For a pre-nuptial agreement or post-nuptial agreement to be considered by a judge, the following conditions must apply:
- The agreement must be in writing
- The agreement must be signed by both parties
- The agreement must be fair to both parties
- Both parties must have made a full disclosure of their assets
- Both parties must have had independent legal advice
- Neither party must have been under pressure to sign the agreement
- The agreement must be up-to-date e.g. a new agreement must be created if the couple have children, either party acquires substantial new assets not covered by the agreement etc.
Why our Hammersmith divorce solicitors are the right choice for you
Our divorce law solicitors have been helping clients to achieve fair financial agreements for decades, including under the most difficult circumstances. This experience, combined with our strong skills in negotiation and Alternative Dispute Resolution (ADR) means we can typically help you achieve the right outcome for you, faster and with less stress.
Our team includes members of Resolution, a network of family lawyers committed to removing unnecessary conflict from divorce. We also boast strong experience with divorce court proceedings, so can offer the best approach for your circumstances, no matter how challenging.
We also have the benefit of a Conveyancing Quality Scheme (CQS) accredited Residential Property team, who can assist with matters such as selling and transferring ownership of property which often form a key part of divorce financial settlements.