Divorce Settlements
Divorce Settlements – How To Reach A Financial Settlement
If you are going through a divorce, it will be necessary for you and your spouse to negotiate a divorce settlement. This will determine how you are to share your assets such as savings, pensions, possessions and property, and also deal with any debt.
Divorce settlements can be problematic, particularly for those with complex financial arrangements. There are times, however, when an agreement can be reached without the need for external intervention. This is known as a ‘kitchen table agreement’, and sees a couple negotiate a settlement by discussing the matter face to face. In such circumstances a solicitor can then apply for a court order to make the settlement legally binding, known as a consent order.
If You Cannot Reach An Agreement
If reaching a financial settlement directly with your spouse is not an option, there are a number of other options. At Pannone Solicitors, our expert and trusted divorce lawyers can help you decide which suits you best, and may offer choices that include:
• Mediation
• Collaborative law
• Negotiations via solicitors
Should none of these approaches conclude in a satisfactory result, then it will be necessary to undertake court proceedings. This process is called ‘ancillary relief’ and runs along side the divorce. It means the court will decide how assets should be split should an agreement not be reached within the course of the proceedings. If an agreement is reached before the end of the proceedings, a consent order can be made.
When deciding the details of an ancillary relief settlement, a court will consider factors such as the needs of any children, how much you earn or are expected to earn in the future, and how much you need to live on. While every case is different, it is rarely as simple as splitting everything in half. Instead a court will divide the assets according to each person’s needs. This decision is final, and cannot easily be reversed.
How Can Pannone Solicitors Help?
From discussing the different options available to fighting a settlement in court, Pannone Solicitors can assist with all aspects of your divorce settlement. Our divorce lawyers are experienced in resolving financial settlements, and promise to deliver a result you are happy with.
Advice on divorce settlements
For help with a divorce settlement, contact Pannone solicitors on 0800 840 4929 or click here for further advice – we are available 24 hours a day, 7 days a week.