It is vitally important to resolve the finances on divorce or dissolution. You will need to consider both your immediate and longer-term needs for yourself and any children of the relationship.
The court has wide powers when it comes to deciding how the finances are divided on divorce and dissolution, and no case is the same. The law sets out the matters which need to be taken into account when resolving the finances, and the court must balance these factors. However, the court only needs to become involved should you not be able to resolve the financial matters by agreement.
If you’ve not yet decided that a divorce is right for you then a Separation Agreement can set out any agreement you have reached with your spouse as to the division of assets.
It may be that you wish to set out what will happen to your assets before you marry through a prenuptial agreement, also known as a prenup or pre-marriage agreement. This may be important when you have children from a previous relationship or you have assets you wish to protect. You should enter into the agreement at least a month before the wedding or civil partnership.
How We Can Help
We encourage our clients to attempt to negotiate a financial settlement on divorce or dissolution. However, it may be that matters cannot be resolved without involving the court, in which case we will guide you through the process with understanding and attentiveness.
We will offer realistic and honest advice, based on your individual circumstances, from experienced divorce solicitors.