Financial Settlement
Financial Settlement
Reaching a financial settlement is often the most difficult issue to resolve when a marriage breaks down. The settlement reached can determine your long term financial position.
What if we have reached a settlement ourselves?
You can enter into a Consent Order or a Separation Agreement
1. Consent Order
2. Separation Agreement
Used when the divorce has started. The financial agreement is drafted into a Consent Order which is sent to the court after Decree Nisi of divorce has been granted. If the Judge is happy with the order, the agreement will become a legally binding Court Order.
If you have separated but are not ready to make the decision to divorce, or wish to wait until you have been separated for two years, the financial agreement can be contained in a Separation Agreement. It is important that certain requirements are met to ensure the agreement is binding and cannot be challenged. Therefore we strongly recommend that legal advice is taken to minimise the chances that the agreement will be overturned.
What if we cannot reach an agreement?
Even if parties try to reach an agreement, sometimes there are issues that cannot be agreed. There are various ways to try and resolve the dispute such as mediation, the collaborative process or negotiations through solicitors. However, some situations need court proceedings before a settlement can be reached. If court proceedings are required, the divorce will need to be started.
At any point during the court process the parties can come to an agreement and record the agreement in a Consent Order.
Our solicitors try to resolve financial matters as amicably as possible, and where court proceedings are needed we advise and assist throughout.
If you would like to know more about this process or feel this could be something you would benefit from, please contact us at [email protected] or telephone Ipswich 01473 213311 or Colchester 01206 584584, where we will be happy to speak with you.
Family Team
Matthew Clemence
Head of Family Department - Partner SolicitorAbout Matthew Clemence. Matthew is the head of our Family Law Department. Matthew qualified as a solicitor in 2001 following... Read ProfileElaine Webb
Partner SolicitorAbout Elaine Webb. After completing a Law Degree, Elaine worked as a Housing Advisor in the voluntary sector in London... Read ProfileNicola Furmston
Senior SolicitorAbout Nicola Furmston. Nicola qualified as a solicitor in 1992, initially practicing in civil litigation and family law. She worked... Read ProfileHannah Gordon
SolicitorAbout Hannah Gordon. Hannah graduated from the University of East Anglia in 2015 before joining Suffolk County Council, where she... Read ProfileClare Thomas
ConsultantAbout Clare Thomas. Clare graduated from Essex University in 1992 after a a previous career in intensive care nursing. After... Read Profile
Need help with another legal matter?
Subscribe Now for Newsletter and Updates