Finances and Divorce
Helping you settle your financial issues
Finances on divorce: legal advice
If your relationship breaks down or you get divorced, there are likely to be a number of financial matters that need resolving. Our divorce solicitors can help with issues from what will happen to the family home, assets and your pensions, to what financial support there will be for any children you have.
Whether you are going through a divorce, separation, relationship breakup or the dissolution of a civil partnership, we can help you in settling your financial issues with your former partner and come to an amicable and legally binding agreement.
Finances are usually dealt with separately to divorce proceedings but can be handled at the same time.
Financial matters can usually be resolved through negotiations between the couple, collaborative law or mediation. If your case does go to court, an agreement is often reached before the final hearing and our family team have considerable experience in the court process.
Pre- and postnuptial agreements
If you’re planning to enter into a marriage or civil partnership you might consider making a prenuptial agreement to protect your individual assets. This agreement will state decisions you and your partner have jointly made regarding the division of property and support from your spouse in the event of the marriage breaking up, divorce, separation or the dissolution of your civil partnership.
A post-nuptial agreement can be made once you are married, or if you have entered a civil partnership, you can draw up a post-partnership agreement.
These agreements aren’t currently binding under English law but are now being given increased recognition by the courts.
Pensions on divorce
Pensions can be one of the most valuable assets in a marriage, so they are taken into account as part of the financial settlement on divorce and when dividing assets fairly between parties.
If you are divorcing your spouse and one party has considerably more valuable pension rights, we can advise on a pension sharing order, offsetting or earmarking.
A pension sharing order enables a percentage of one party’s pension to be transferred into a pension for the other party. In comparison, offsetting is where one party retains their pension and the other party is compensated by receiving a greater share of other assets from the marriage, such as property.
Financial orders
Divorce involves two parts: the legal divorce process and the financial settlement, which is often overlooked but essential.
A financial order is a legally binding document that sets out how assets (such as property, pensions, and income) are divided. It must be approved by a judge and is difficult to change once finalised. It can include:
- Property transfer or sale
- Lump sum payments
- Pension sharing
- Maintenance or school fees
If you and your ex-partner agree, you can apply for a consent order, which formalises your agreement without going to court.
If you don’t agree, you can start court proceedings, where we can represent you. A judge will decide the outcome based on factors like income, needs, lifestyle, and contributions. Their decision is known as a financial remedy order.
Without a financial order, there’s no legal protection, and future financial claims can still be made.
Inheritances and divorce
We can also advise on any inheritance received during the course of the marriage and whether this is considered matrimonial or non-matrimonial property.
We can advise on your potential future financial position during divorce proceedings, including any inheritance you could receive. You’ll benefit from the expertise of our Wills, Probate and Trusts team who can discuss with you how to protect yourself from inheritance claims.
Why use Rothera Bray for divorce financial advice?
We’ll go through your wishes and fully assess your financial situation to give you the best possible advice about the settlement you’re likely to receive.
We have Resolution-accredited solicitors as well as specialists in collaborative law.
We can offer tailored advice on how to protect your wealth and assets based on your personal circumstances.
We can advise you on whether setting up a trust or family business investment would benefit you and your situation.
Once you have reached a final agreement we can advise you on a consent order if you enter into divorce proceedings or a separation agreement if you are not getting a divorce.
Beyond finance, our family law team also covers:
Divorce Services
Whether you’re thinking of an ending a marriage or civil partnership, this page summarises all you need to know about the process.
Civil partnership dissolution
If you’re thinking about ending a civil partnership, our experienced team can give you advice on the process.
Children and divorce
Whether it’s a divorce or just breakdown in your relationship, we can help you bring about the best outcomes for your children.
Family mediation
When a relationship breaks down, it’s a lot better if those involved can resolve their differences amicably. This is where family mediation comes in.
Child abduction/relocation
Find out ways to prevent your child being taken to live elsewhere or outside of the country, and your rights as a parent.
Prohibited steps order
A prohibited steps order can stop a parent from making sole decisions about about their child’s medical treatment, schooling, living arrangements or family name.
Family injunctions
An injunction is a protective order from the court, which can protect against violence or contact with named people.
Clean break consent orders
A consent order can be used to outline the financial agreement you have reached with your former spouse.
“We’ll work hard to ensure that everyone gets their fair share of assets following a divorce.”
