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Financial settlements and property division post-divorce – Your guide to a fair resolution

Divorce often brings with it the daunting task of dividing assets and property, a process that can be emotionally charged. Understanding financial settlements and property division is important for all parties to reach a fair resolution.

Financial settlements in divorce

The division of marital assets requires a considered approach, balancing legal rights with personal circumstances. Whether through direct negotiation, mediation, or court proceedings, the aim is to reach an agreement that respects both parties’ contributions and future needs.

Negotiating a financial settlement

Negotiation is the cornerstone of financial settlements and brings opportunity for dialogue and compromise, aiming to avoid the stress and cost of court proceedings. However, any agreement reached must be formalised by a court order, known as a ‘consent order’, to ensure it is legally binding.

Protecting your interests

In the face of concerns about property disposal or asset concealment, legal protections are available. Registering your ‘Home Rights’ or seeking preventative court orders can safeguard your interests and prevent unauthorised asset disposal.

Full disclosure

Complete transparency about financial circumstances is non-negotiable. It is the foundation upon which fair negotiations are built and is essential for court approval of any financial settlement.

Asset division

Asset division is tailored to the marriage’s unique circumstances, considering various factors, including non-financial contributions and the welfare of children. Not all assets are divided equally, and some may be excluded based on their origin.

Maintenance and pensions

Child maintenance is a standard obligation, while spousal maintenance depends on individual circumstances. Pensions, though complex, can be divided, and legal advice is vital to navigate this area.

Early agreements and legal advice

A separation agreement can be negotiated before divorce proceedings, setting out the terms of asset division. Our expert legal advice will help ensure its validity and enforceability.

Property division

In the midst of a divorce, property division often emerges as one of the most significant financial concerns. Determining who gets the family home, whether it should be sold, or how other real estate assets should be allocated can be complex.

The court will consider factors such as the length of the marriage, the needs of any children, and each party’s financial contributions. It’s not just about dividing assets, but also about ensuring that both parties have a secure place to live post-divorce. If you’re dealing with property division, it’s essential to have a clear understanding of both your legal rights and your financial future.

If you would like more information about your financial responsibilities in a divorce, please view our video guide.

Our family law specialists are on hand to guide you to a fair and just resolution, ensuring your financial interests are protected for the future. Contact us today for further advice.

Stuart Daniel

Director – Head of Family Department

I qualified as a Solicitor in 2006 and now specialise in divorce, financial settlements, childcare arrangements and Pre Nuptial Agreements. I have many years’ experience as a private family lawyer having worked with two other local firms before returning to Mander Hadley, where I first undertook work experience during my university studies.