Divorce Financial Settlement Solicitors
Dealing with finances can often be one of the most challenging aspects of a divorce. We can represent you in negotiating the right solution, making sure you understand your rights and the options available to you.
At JNP Legal, our experienced financial settlement solicitors will step in, acting quickly to protect your financial needs and working to ensure you have the security you need for yourself and your family. We aim to deal with matters out of court wherever possible, and can guide you through alternative methods of dispute resolution if needed.
Should it be necessary to go to court, we will ensure that your case is robust and that you are represented by an advocate with expertise in finances and divorce.
Contact our divorce financial settlement solicitors in Merthyr Tydfil, Cardiff, Nelson and Pontyclun
If you need help dealing with financial settlement divorce issues, contact us today. We are a regional law firm with offices in Merthyr Tydfil, Pontyclun, Cardiff and Nelson.
Please email us at law@jnplegal.org, or call us on the number specific to the office closest to you. Alternatively, fill out our Get in Touch form and we will respond to you quickly.
Our divorce financial settlement services
For more information on our services, see our divorce solicitors page.
Spousal maintenance agreements
If you require spousal maintenance moving forward, we can negotiate with your former partner’s solicitor to try to reach an agreement. Spousal maintenance is generally only ordered by the courts when one party is in a financially weaker position than the other. Where necessary, we can request that the court order spousal maintenance to ensure you receive the support you need.
Division of assets
We can provide financial divorce advice on the various options for dividing your assets and liabilities. If there is a particular asset that you want to retain, we can discuss ways in which this might be possible. For example, if you want to keep your pension, it may be possible to allow your former partner a larger share of other assets, such as the family home, by way of compensation.
We always aim to deal with matters without the need for litigation. Where necessary, we can guide you through the mediation process, which can assist in finding an out-of-court solution.
Pension sharing orders
Pensions are taken into account when dividing assets on divorce, and the court has a range of options open to it, including:
- A pension sharing order, where part of a pension will be transferred to the other party for them to draw on in the future when they wish.
- A pension attachment order, where a percentage of future pension income must be paid to the other party when the pension owner decides to draw on the pension.
- Pension offsetting, where the pension holder retains their pension, and the other party is granted a larger share of other assets by way of compensation.
We can discuss what you want to achieve and talk through ways of obtaining this.
Consent orders
A consent order is made when the parties are able to agree on the way in which they want to divide their assets and liabilities. We can represent you in financial agreement divorce negotiations to try to decide on the right terms. If you are able to agree on matters, we can draft an order and ask the court to approve it. The document will then be sealed, making a final, binding consent order.
Frequently asked questions on divorce financial settlements
The courts will try to divide assets fairly and meet the needs of both parties when dealing with divorce financial settlements. The starting point is a 50:50 split, but this can be adjusted to take into account a range of factors. If one party is in a weaker position than the other, the courts are likely to award them a larger share of the available assets and, in some cases, spousal maintenance may be ordered.
When deciding what divorce financial order to make, the court will consider the factors set out in Section 25 of the Matrimonial Causes Act 1973, as follows:
- The income, earning capacity, property, and other financial resources available to the parties, both now and in the foreseeable future, to include any potential increase in earning capacity that it would be reasonable for the parties to take steps to acquire.
- The financial needs, obligations, and responsibilities the parties have, now and in the foreseeable future.
- The standard of living enjoyed by the family during the marriage.
- The parties’ ages and the length of the marriage.
- Any physical or mental disability either party has.
- The contributions to the family’s welfare made by each party during the marriage and in the foreseeable future, including looking after the home or caring for the family.
- The conduct of the parties, where it would be unfair to ignore this.
- The value of any benefit which the parties will lose because of the divorce.
It is always recommended that a financial settlement solicitor be used when obtaining a financial order on divorce. If you ask us to represent you, we will ensure that full financial disclosure is made and that any proposed agreement is in your best interests. Should litigation be necessary, we will argue robustly on your behalf.
The first step when dealing with financial issues on divorce is for both parties to make a full financial disclosure to the other.
The usual way of dealing with the disclosure of assets in divorce is by completing Form E. This is a comprehensive form, and you will need to fill in details of your income and expected income from all sources, all assets and liabilities, expected expenditure, and details of your household, to include information about your children and monthly expenditure.
The information needs to be supported by documentation. This will include:
- Bank statements
- Payslips, P60s, P45s and tax returns
- Child Maintenance Service assessments
- Mortgage statements
- Property valuations
- Valuations of all savings
- Cash Equivalent Value statements for pensions
- Statements for all debts, including loans and credit cards
- Details of items valued at over £500, such as cars, jewellery, and furniture
- Evidence of how much you would need for future items, such as a deposit for a property or a car
Even if you are able to agree on the way in which your assets and liabilities will be split, the court will want to ensure that disclosure has been made before it approves a consent order. It may not be necessary to complete Form E, and the court may be satisfied with the shorter Form D81, which is a statement of information for a consent order in relation to a financial remedy.
Once you have agreed on a way forward or a court order has been made, you should take steps to transfer bank accounts and debts into the sole name of whichever of you will be taking on the account. It is important to do this promptly to avoid difficulties, should the other person still have access to the funds or credit facility.
Why choose JNP Legal’s Family team?
Our divorce settlement solicitors have an excellent track record in securing the right results for our clients. We always take the time to understand your priorities and discuss any concerns you may have. We know that this will be a difficult and stressful period for you, and you will find our team members to be sympathetic and understanding.
We are accredited by the Law Society Family Law Accreditation Scheme, reflecting our commitment to maintaining the highest standards of legal service. We also hold Lexcel accreditations for our outstanding practice management, reflecting our commitment to client care and risk management.
We pride ourselves on securing the most favourable outcome for our clients each time, finding a resolution promptly and at competitive prices.
Contact our divorce financial settlement solicitors in Merthyr Tydfil, Cardiff, Nelson and Pontyclun
If you are considering a divorce, our experienced financial settlement divorce solicitors are here to assist. We are a regional law firm with offices in Merthyr Tydfil, Pontyclun, Cardiff and Nelson.
Please email us at law@jnplegal.org, or call us on the number specific to the office closest to you. Alternatively, fill out our Get in Touch form and we will respond to you quickly.