Financial Settlements
Reaching a divorce financial settlement
Even if you separated your funds throughout your marriage or civil partnership, you would still need to establish a legal settlement agreement when you divorce. We are here to aid you in handling the distribution of assets, including real estate and pensions, as smoothly as possible. Abbott and Harris Solicitors professional divorce lawyers have the knowledge and competence you require.
Do I have to reach a divorce financial settlement?
It is not necessarily required to establish an agreement. However, if you do not reach an agreement, your former spouse may attempt to lodge a financial claim against you in the future. Therefore, even if you do not share assets such as pensions or savings, we still urge that you strike an agreement and have a Consent Order in place.
Why does the law make me get a divorce financial settlement?
Some couples or civil partners generate the same salary and collectively pay family expenditures; this is not always the case. For example, if one partner has to stay at home to raise the children, they will have contributed less financially but still be entitled to a percentage of the marriage’s assets. As a result, it is critical to reach a financial settlement and have it documented in a Consent Order.
Do I need a Consent Order if our settlement is amicable?
It is usually preferable if you and your husband or civil partner can reach an amicable agreement, you must seek a Consent Order from the court for your agreement to be legally binding. This is because the court must first determine that the settlement is reasonable and that one party is not maltreated. The Consent Order also assures that both parties must adhere to their agreement, protecting you against the other party’s contract breach.
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