Finances on Divorce

Sorting financial and property arrangements during a divorce or civil partnership dissolution can be extremely stressful and complex. Nevertheless it is crucial to document any settlements that you may rely on in the future. This will usually be done via a court order.

When the financial settlement is agreed to by both parties, then a consent order can be approved by the court. However, if a satisfactory arrangement cannot be reached during negotiations, then you can ask the court to step in and make a decision by applying for a financial remedy order.

During a separation, a deed of separation can be created to come to a financial agreement. This is only if you are not going through an actual divorce or dissolution at this time, but need to make financial arrangements.

What Should Be Considered For A Financial Settlement?

Firstly the family home. The way you deal with the family home will be dependent upon each individual circumstance.

If you have a property to sell, then you may consider selling it and splitting the money between you. This isn’t always necessarily a 50/50 split, again it will depend upon certain criteria such as pensions.

You may consider transferring the deeds to one spouse with the other ‘buying them out’ with a cash lump sum. Or one party may remain in the family home until the children have reached the age of 18. The other party in this instance may need to have a secured loan against the property or it may be sold at some point and then monies divided up.

Other Assets To Consider

You may have other assets in joint names such as savings and investments. These will need to be declared and consideration given regarding who receives what.

Sometimes you may have a business with assets to consider or a family business that you run together. It can be a complex procedure to divvy up business assets, especially if it is one you currently jointly own and work in. Our family business team will be able to assist you with this.

Another consideration is what pensions you both have. You may wish to opt to offset the pension against a greater share in the other assets or draw up some form of pension sharing order.

If one or both of you have debts including credit cards and loans, then these will need to be taken into account in any settlement.

If you have children, then a key consideration with all settlements will be regarding how their needs will be met. One of the concerns here will be with child maintenance.

Please contact one of our specialist family law team today to discuss your situation and how we may help you reach a satisfactory financial settlement.

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Moyen has advised me on my business investments and also on trade mark matters. He is always available, extremely professional and a pleasure to work with.

Junior Hoilett – Professional Football Player

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2018-07-11T11:55:58+00:00

Junior Hoilett – Professional Football Player

Moyen has advised me on my business investments and also on trade mark matters. He is always available, extremely professional and a pleasure to work with.

My bar/restaurant business has expanded significantly over the last couple of years and Integra Solicitors have acted for me on several leases and business sale and purchases. They are highly responsive and really know their stuff. The Integra team were unfazed by acting opposite large firms and were tough in negotiating key points for me in to the documentation. They are my first port of call for anything legal and I would thoroughly recommend their services.

Umar Vanden - owner of Whiskey Jar, El Capo, Bandito Burrito, Behind Closed Doors

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2018-07-11T11:54:39+00:00

Umar Vanden - owner of Whiskey Jar, El Capo, Bandito Burrito, Behind Closed Doors

My bar/restaurant business has expanded significantly over the last couple of years and Integra Solicitors have acted for me on several leases and business sale and purchases. They are highly responsive and really know their stuff. The Integra team were unfazed by acting opposite large firms and were tough in negotiating key points for me in to the documentation. They are my first port of call for anything legal and I would thoroughly recommend their services.

We as a company have instructed Integra Solicitors for a number of years now for pretty much all of our commercial law needs. They have advised us on, amongst other things, our £5.5m share acquisition of another children’s care business, multiple commercial property acquisitions and leases, our group restructuring and our shareholders’ agreement. The level of service has never dropped and we would highly recommend Moyen and the team.

Katie Sammonds - Finance Director, Care 4 Children

 

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2018-07-11T11:53:05+00:00

Katie Sammonds - Finance Director, Care 4 Children

 

We as a company have instructed Integra Solicitors for a number of years now for pretty much all of our commercial law needs. They have advised us on, amongst other things, our £5.5m share acquisition of another children’s care business, multiple commercial property acquisitions and leases, our group restructuring and our shareholders’ agreement. The level of service has never dropped and we would highly recommend Moyen and the team.

The Integra Solicitors team advised me on the sale of equity and successful exit from a business I was a minority shareholder in. They gave excellent advice and worked hard on my behalf to ensure I received the best deal. Based on my experience, Integra will be my firm of choice for years to come.

Keith Andrews – Retired Professional Football Player and SKY TV Pundit

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2018-07-11T11:57:09+00:00

Keith Andrews – Retired Professional Football Player and SKY TV Pundit

The Integra Solicitors team advised me on the sale of equity and successful exit from a business I was a minority shareholder in. They gave excellent advice and worked hard on my behalf to ensure I received the best deal. Based on my experience, Integra will be my firm of choice for years to come.

Integra Solicitors provide a professional service. Goes the extra mile and very knowledgeable

Taufeeq Rauf

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2018-07-06T17:35:54+00:00

Taufeeq Rauf

Integra Solicitors provide a professional service. Goes the extra mile and very knowledgeable

Integra Solicitors have advised us on various matters from banking to planning. They have provided us with a huge source of comfort as we know they are always there for us and can be relied upon.

Alan Box - Managing Director,  Cold Choice Foods

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2018-07-11T11:54:09+00:00

Alan Box - Managing Director,  Cold Choice Foods

Integra Solicitors have advised us on various matters from banking to planning. They have provided us with a huge source of comfort as we know they are always there for us and can be relied upon.

When I was let down by a well-known firm of solicitors, I turned to Integra Solicitors more in hope then expectation. I am pleased to say it was one of the best decisions I have ever made. This is the firm I would recommend, I only wish I had turned to them first.

James Rose – Chief Operating Officer (AIM Listed Company)

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2018-07-11T11:57:43+00:00

James Rose – Chief Operating Officer (AIM Listed Company)

When I was let down by a well-known firm of solicitors, I turned to Integra Solicitors more in hope then expectation. I am pleased to say it was one of the best decisions I have ever made. This is the firm I would recommend, I only wish I had turned to them first.

As financial advisers to some of the most prominent sportsmen and women we needed lawyers who were highly skilled and responsive. Among other things, Integra Solicitors advised us on our shareholders’ agreement and key employment contracts. Complex provisions were explained in simple terms to us and we were made to feel completely at ease all the way through the process.

Mark Tueart – Director, Lift Sport Financial Advisers

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2019-03-19T07:49:00+00:00

Mark Tueart – Director, Lift Sport Financial Advisers

As financial advisers to some of the most prominent sportsmen and women we needed lawyers who were highly skilled and responsive. Among other things, Integra Solicitors advised us on our shareholders’ agreement and key employment contracts. Complex provisions were explained in simple terms to us and we were made to feel completely at ease all the way through the process.

It is refreshing to finally work with lawyers who genuinely understand my business and consequently give extremely pragmatic and cost effective advice. Integra Solicitors spot issues that even I as the business owner did not see and provide solutions. You will be hard pressed to find better lawyers!

Ian Goehler – Founder and Managing Director, White Collar Fighter

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2018-07-11T11:53:35+00:00

Ian Goehler – Founder and Managing Director, White Collar Fighter

It is refreshing to finally work with lawyers who genuinely understand my business and consequently give extremely pragmatic and cost effective advice. Integra Solicitors spot issues that even I as the business owner did not see and provide solutions. You will be hard pressed to find better lawyers!
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Integra Family & Matrimonial law solicitors provides professional and expert guidance on every aspect of a family’s legal situation. We’ve advised countless families throughout their entire life spans, so you can rest assured that we will always be there to support you, even in situations that aren’t currently on your radar. We’re the firm of trusted family lawyers that takes the time to get to know your family and understand your exact requirements.