{"id":1209,"date":"2018-01-12T15:04:29","date_gmt":"2018-01-12T15:04:29","guid":{"rendered":"http:\/\/www.just-family-law.com\/blog\/?p=1209"},"modified":"2020-05-12T14:11:14","modified_gmt":"2020-05-12T14:11:14","slug":"financial-settlement-on-divorce","status":"publish","type":"post","link":"https:\/\/www.just-family-law.com\/blog\/index.php\/2018\/01\/12\/financial-settlement-on-divorce\/","title":{"rendered":"Financial Settlement On Divorce, How To Get The Best One For You &#8211; 5 FAQs"},"content":{"rendered":"<p><a href=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP.jpg\"><img data-attachment-id=\"1211\" data-permalink=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2018\/01\/12\/financial-settlement-on-divorce\/financialsettlementondivorcewp\/\" data-orig-file=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP.jpg\" data-orig-size=\"907,680\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"\" data-image-description=\"&lt;p&gt;Financial Settlement On Divorce&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP-300x225.jpg\" data-large-file=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP.jpg\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-1211\" src=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP.jpg\" alt=\"Financial Settlement On Divorce\" width=\"907\" height=\"680\" srcset=\"https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP.jpg 907w, https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP-300x225.jpg 300w, https:\/\/www.just-family-law.com\/blog\/wp-content\/uploads\/2018\/01\/FinancialSettlementOnDivorceWP-768x576.jpg 768w\" sizes=\"(max-width: 907px) 100vw, 907px\" \/><\/a><\/p>\n<ol>\n<li>\n<h4><strong>What&#8217;s The Best Way To Tackle Your Financial Settlement On Divorce?<\/strong><\/h4>\n<\/li>\n<\/ol>\n<p>By all means come to an agreement about the matrimonial finances\u00a0between yourselves. But make sure you obtain advice from an <a href=\"https:\/\/www.just-family-law.com\/\" target=\"_blank\"><em>expert family solicitor<\/em><\/a> to ensure it\u2019s a fair deal. This could save you money in the long term because the wrong financial settlement can affect the rest of your life.<\/p>\n<p>Your solicitor should advise you of your options\u00a0such as <em><a href=\"https:\/\/www.just-family-law.com\/how-we-do-it\/constructive-negotiations\" target=\"_blank\">negotiation<\/a>, <a href=\"https:\/\/www.just-family-law.com\/how-we-do-it\/mediation\" target=\"_blank\">mediation<\/a> or <a href=\"https:\/\/www.just-family-law.com\/collaborative-law\" target=\"_blank\">collaborative law<\/a><\/em>. But if these don\u2019t work, <a href=\"https:\/\/www.just-family-law.com\/how-we-do-it\/court-proceedings\" target=\"_blank\"><em>Court proceedings<\/em><\/a> might be the answer. Your solicitor will tell you how much these options are likely to <a href=\"https:\/\/www.just-family-law.com\/how-we-charge\" target=\"_blank\"><em>cost<\/em><\/a>.<\/p>\n<ol start=\"2\">\n<li>\n<h4><strong>What Happens First?<\/strong><\/h4>\n<\/li>\n<\/ol>\n<p>All the matrimonial assets are utilised to provide a fair settlement for both of you. So you both need to provide information about every single one, whether owned in your joint names, or in your sole names:<\/p>\n<ul>\n<li><em>The value of the family home (and any other property) and the size of the mortgage<\/em><\/li>\n<li><em>Bank and building society accounts<\/em><\/li>\n<li><em>Shares<\/em><\/li>\n<li><em>Pensions<\/em><\/li>\n<li><em>Any other investments<\/em><\/li>\n<li><em>Debts<\/em><\/li>\n<\/ul>\n<p>And you will both need to provide details of your <em>income<\/em> and <em>outgoings<\/em>, too.<\/p>\n<ol start=\"3\">\n<li>\n<h4><strong>Which Assets Are Non Matrimonial?<\/strong><strong>\u00a0<\/strong><\/h4>\n<\/li>\n<\/ol>\n<p>Can you protect your <a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/09\/27\/how-to-protect-your-inheritance-on-divorce\/\" target=\"_blank\"><em>inheritance<\/em><\/a> on divorce? How can you <a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/11\/07\/ring-fence-protect-assets-on-divorce\/\" target=\"_blank\"><em>ring fence<\/em><\/a> your <a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/10\/04\/how-to-protect-your-business-on-divorce\/\" target=\"_blank\"><em>business<\/em><\/a>? How about property owned <em>pre-marriage<\/em>? You will need expert legal advice to answer these questions. But you must, first of all, disclose the existence of these assets, and their value.<\/p>\n<ol start=\"4\">\n<li>\n<h4><strong>How Are Assets Divided For Your Financial Settlement On Divorce?<\/strong><\/h4>\n<\/li>\n<\/ol>\n<p>The starting point is equal division. But the <em>Matrimonial Causes Act<\/em> tells us we must also consider various factors, and any one of these could mean an adjustment to income or capital. The list of factors includes:<\/p>\n<pre>The Welfare Of Any Children<\/pre>\n<pre>Income and Earning Capacity<\/pre>\n<p>The approach is to achieve a <em>\u201cclean break\u201d<\/em> between couples by capital adjustment rather than ongoing maintenance.<\/p>\n<pre>Financial Needs<\/pre>\n<p>If there are children, the parent with whom they live is likely to have a greater need for capital.<\/p>\n<pre>Standard Of Living During The Marriage<\/pre>\n<p>In rare cases where there is an excess of capital and income, this is an argument for a greater share.<\/p>\n<pre>Your Ages, And The\u00a0Length Of The Marriage<\/pre>\n<p>There are different considerations depending on the ages of the couple, and whether it\u2019s a <a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/08\/01\/divorce-financial-settlement-short-marriage\/\" target=\"_blank\"><em>short marriage<\/em><\/a> or a <em>long marriage<\/em>.<\/p>\n<pre>Any Physical Or Mental Disabilities<\/pre>\n<p>This could be a case for ongoing maintenance, or extra capital.<\/p>\n<pre>Contributions To The Marriage<\/pre>\n<p>High achievers can attempt to ring fence their \u201c<a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/10\/31\/special-contribution-on-divorce\/\" target=\"_blank\"><em>stellar contribution<\/em><\/a>\u201d<\/p>\n<h4>5.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <strong>Is A Court Order Required?<\/strong><\/h4>\n<p>A Court order means if one of you changes your mind, or if one of you comes into money, there\u2019s no going back for a second bite of the cherry. And it\u2019s a relatively simple matter for a solicitor to draw up an order and to send it to Court. Ask for a\u00a0<em><a href=\"https:\/\/www.just-family-law.com\/how-we-charge\" target=\"_blank\">fixed fee quote<\/a>.<\/em><\/p>\n<h3>Contact Joanne Houston on 01962 217640 for\u00a0free advice\u00a0on your financial settlement on\u00a0divorce. In this 20 minute session we will:<\/h3>\n<ul>\n<li><em>Review your matrimonial financial situation and how you can achieve your objectives<\/em><\/li>\n<li><em>Give you an overview of how a suitable financial settlement may be achieved by either negotiation,\u00a0collaborative\u00a0law,\u00a0mediation, or\u00a0Court procedure<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.just-family-law.com\/about-us\" target=\"_blank\">JUST FAMILY LAW<\/a>\u00a0are specialist divorce and family law solicitors offering\u00a0<a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/06\/02\/pay-as-you-go-divorce-family-law-costs\/\" target=\"_blank\">personalised legal solutions<\/a>.\u00a0We offer\u00a0<a href=\"https:\/\/www.just-family-law.com\/blog\/index.php\/2017\/11\/29\/collaborative-law-uk\/\" target=\"_blank\">collaborative law<\/a>\u00a0which is especially relevant in providing\u00a0solutions tailored to your family\u2019s needs. This includes same sex couples and their families.<\/p>\n<p>Visit our website\u00a0<a href=\"https:\/\/www.just-family-law.com\/\" target=\"_blank\">just-family-law.com<\/a><\/p>\n<p>The topics covered in this blog post are complex and are provided for general guidance only. Therefore if any of the circumstances mentioned in this blog have application to you, seek expert legal advice.<\/p>\n<p>image: Lady Judge in Boardroom by Lady Barbara Judge on <a href=\"https:\/\/commons.wikimedia.org\/wiki\/File:Lady_Judge_in_boardroom.JPG\" target=\"_blank\">Wikimedia Commons<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What&#8217;s The Best Way To Tackle Your Financial Settlement On Divorce? By all means come to an agreement about the matrimonial finances\u00a0between yourselves. But make sure you obtain advice from an expert family solicitor to ensure it\u2019s a fair deal. This could save you money in the long term because the wrong financial settlement can [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[582],"tags":[130,307,125,131,82,90,457,290,306,87],"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1209"}],"collection":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=1209"}],"version-history":[{"count":35,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1209\/revisions"}],"predecessor-version":[{"id":3464,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1209\/revisions\/3464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/media\/1211"}],"wp:attachment":[{"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=1209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=1209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.just-family-law.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=1209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}