Financial Settlement
We understand the complexities involved in dealing with financial settlements and asset management. Our friendly team of legal professionals will work at your pace to ensure you are completely comfortable with the process. Find out how our team of experienced family law solicitors can support you.
Divorce and Family Law Solicitors in Manchester
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We understand how difficult divorce and separation can be. Dealing with financial settlements, disputes or shared assets can make the process feel even more stressful. But it doesn't have to be when you have the right team of people by your side.
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At MSD Solicitors, we have a team of experienced divorce and family law solicitors based in Manchester, Birmingham and London. We keep in close contact with our clients throughout the process and ensure that you are completely understand your options. Our extensive experience in divorce will provide the confidence you need to make well-informed decisions, even if they are difficult or stressful.
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Financial Settlement on Divorce
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Financial settlements do not form part of the legal divorce process however they often run alongside the divorce or separation. Depending on your circumstances, it may also be complex trying to untangle shared assets and financial commitments. In some cases, financial matters may even continue after you have legally divorced, therefore it’s important to know how to secure your financial rights and stop financial claims in the future.
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In the most ideal circumstances, both parties will come to an agreement on financial matters. However, where this may not be possible, it is often advised that mediation or negotiation is tried with experienced advisors at your side.
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Once you have arrived at a financial agreement, you will have to make an application for a financial order to the Court.
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Contrary to popular belief, each party is not automatically entitled to half of all shared assets. This is particularly true where the marriage is short or children are involved.
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In dealing with financial settlements or disputes, the Court may consider the following factors:
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Income and/or earnings
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Property and other assets (this not only includes current assets but also those which may be obtained in the foreseeable future)
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Current and foreseeable financial commitments or obligations
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The standard of living enjoyed during the marriage
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Duration of the marriage
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Any physical or mental disability either of you may have
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The contributions each of you has made to the welfare of the family, both financial and in relation to the home and the care of the children
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In the case of financial disputes or claims, the Court's priority is always to consider the welfare of any dependent children involved. It is also important to note that where one party is dependent on another's financial income, the Court expects a party to take steps to generate an income of their own. The Court may also consider each party's behaviour or conduct in the case of serious financial misconduct or where violence has taken place which has affected one party's earning capacity.
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SPEAK TO A
LEGAL EXPERT
Divorce is never easy, but it’s easier when you have a team of experienced family law solicitors on your side. At MSD Solicitors, we have a team of experienced divorce solicitors and lawyers with a wealth of knowledge in UK family law.
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We will instill you with the confidence you need to make well-informed decisions and come to a financial agreement you're happy with.
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Get in touch today for a free initial case review to find out how we can support your case.
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