Money matters in divorce
or dissolution of your
civil partnership

 

If you can resolve matters including maintenance, lump sum payments, property, pensions and transfer of assets amicably, you can avoid potentially lengthy and expensive Court proceedings.

However, financial issues are often a source of conflict and Financial Remedy proceedings can be highly complex, especially when it involves transfer of property or pension sharing, which may require the approval of your mortgage lender or pension provider. Your Miles and Partners Divorce Solicitor, Collaborative Lawyer or Family Mediator can help you agree a fair settlement, which you can ask the Court to formalise in a “Consent Order”.

Occasionally, if one of you is not legally represented or the order does not appear entirely fair, the Judge may ask you both to attend a brief hearing and may query the terms agreed.

 

If negotiations break down

If you cannot reach agreement, you can ask the Court to decide matters for you when your Divorce or Dissolution of your Civil Partnership has reached Decree Nisi or Conditional Order stage. Your Miles & Partners divorce solicitor will arrange for you to be represented in a Final Hearing at which you may be required to give evidence and be cross-examined by your spouse’s representative.

The Court’s overriding duty is to ensure that the outcome is fair, though that does not necessarily mean your assets will be divided equally. The Court takes into account factors including the length of your marriage or civil partnership; your respective ages and health; your existing income and capital; your needs and the needs of any children; as well as your contributions, to determine the fairest way to divide your assets.

The Court can make an order about child maintenance only in very limited circumstances, for example if one of you lives and works abroad, or lives in the UK but earns more than a certain sum. Otherwise any dispute over child maintenance is usually dealt with by the Child Maintenance Service (CMS).

A Financial Order will become enforceable on your Decree Absolute or the Final Order in the Dissolution of your civil partnership.

Contact us for advice and help to resolve your financial matters at the end of your marriage or civil partnership.