Financial Settlements

The breakdown of a marriage or Civil Partnership is difficult enough to deal with without having to worry about finances. Davey Law will provide you with the expert advice you need to resolve your financial affairs. Whatever your financial position be assured that we can assist; we routinely deal with cases across the spectrum of wealth and complexity and we are experts in complex cases involving, businesses, farms and trusts.

Often people decide that they do not wish to deal with financial issues, believing time will sort everything out. This is not the case and in fact it is vitally important that finances are dealt with as otherwise, years later, an ex partner may make an application to court to resolve financial affairs.

There are a number of ways that amicable resolutions can be reached, using a collaborative approach or mediation. Wherever possible we will attempt to resolve matters fairly and amicably. However, if this is not possible and court proceedings prove necessary; we will guide and advise you through the whole process providing you with robust and knowldgable representation.

However financial matters are resolved it is important for the agreement to be formalised. Some people are happy to do this by way of a Separation Agreement. This is a written agreement between the parties detailing how the financial assets are to be dealt with. A word of caution here as, whilst a Separation Agreement records the parties’ intentions, it does not have the same finality as that of a court order. It is possible for a court, in future proceedings, to move away from the terms of the Separation Agreement.

Once financial terms are settled we would strongly recommend that they are incorporated into a “Consent Order” for a Judge to approve. If the Judge is satisfied with the terms agreed the Consent Order will be sealed by the court and copies sent to the parties.

If it is not possible to agree a financial settlement then an application will need to be made to the court for “financial remedy”. On receiving the application the court will provide a timetable so each party will know what they need to do and by when. Generally the process will involve three court hearings. The First Appointment, the Financial Dispute Resolution appointment and the Final Hearing. Even where proceedings have been issued the Judge will expect parties to continue to try to reach a settlement. If matters cannot be settled the Judge will, at the Final Hearing, decide how the assets should be split and an order will record the Judge’s decision.

Get in touch

For further information about our services or to make an appointment please contact:

Julie Long

jlong@daveylaw.co.uk

01452 508800

Michael Brady

mbrady@daveylaw.co.uk

01285 654875

Your locally trusted Solicitors serving the people of Gloucestershire