Divorce Financial Settlement Solicitors
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- Written by: Wembley Solicitors

At Wembley Solicitors, our specialist divorce lawyers provide expert advice on divorce financial settlements, including asset and property division.
Thinking about divorce and need advice on financial settlements? Call divorce settlement solicitors in London at 0203 417 3700 for guidance on asset division.
Table of Contents
- What is a financial settlement in a divorce?
- Key components of a financial settlement
- What is a fair financial settlement in a divorce?
- How to calculate a fair financial divorce settlement?
- What are you entitled to in a divorce settlement?
- Preparing for a financial settlement
- How are assets divided in a divorce?
- What happens to the family home during a divorce?
- How are pensions handled in a divorce?
- Common financial issues in divorce
- What happens if you can't agree to a financial settlement?
- How much is the consent order fee?
- How long does it take to draft a consent order?
- How can our solicitors assist with your divorce financial settlement?
- Contact divorce settlement solicitors in London
What is a financial settlement in a divorce?
A financial settlement is a legally binding financial agreement on dividing money & assets and providing financial support after a marriage ends.
Once you and your ex-partner agree on the division of money and assets, you must apply for a consent order to make it legally enforceable.
To legally bind your financial agreement, our specialist divorce solicitors will draft a consent order on your behalf and ask the Court to approve it.
Key components of a financial settlement
A financial settlement typically addresses:
- Division of Assets: Property, savings, investments, and personal possessions.
- Ongoing Financial Support: Spousal or child maintenance payments.
- Debt Allocation: Credit cards, loans, or mortgages shared between the parties.
- Pension Arrangements: The division or offsetting of pension pots.
What is a fair financial settlement in a divorce?
Judges may reject consent orders for unfairness if they believe the terms favour one party excessively and do not ensure a balanced division of assets or proper child arrangements.
Rejection may occur if the agreement is unfair, legally non-compliant, lacks full financial disclosure, or fails to provide adequate arrangements for children.
How to calculate a fair financial divorce settlement?
Essential steps in determining a divorce settlement include:
- Document Financial Information: List all assets, income, expenses, and debts, including properties, savings, pensions, and loans.
- Accurately Value Assets: Obtain professional valuations for property, pensions, and investments.
- Assess Financial Needs: Evaluate living costs for both spouses and any children.
- Account for Debts: Record liabilities, including mortgages and loans.
- Consider Contributions: Account for financial and non-financial contributions made during the marriage.
- Understand Legal Principles: In the UK, settlements aim for fairness based on needs, contributions, and future earning potential.
- Seek Professional Advice: Consult family law experts or mediators for guidance on achieving a balanced agreement.
What are you entitled to in a divorce settlement?
The initial approach is a 50/50 division which means an equal split, though a fair settlement is ultimately decided by the court, based on the individual circumstances of the marriage.
Your entitlements during a divorce settlement depend on various factors, and neither party has specific automatic entitlements. Assets include:
- Financial: Savings, investments
- Property: Family homes, other real estate
- Retirement: Pensions
- Insurance: Life policies
- Businesses and Valuables: Vehicles, furniture, and appliances
- Support Payments: Child and spousal maintenance
Preparing for a financial settlement
Before negotiating, look at your daily financial tasks:
- Joint Accounts: Notify banks to separate finances and freeze cards if necessary.
- Financial Evaluation: Identify current assets, debts, and shared responsibilities. Discuss handling mortgages, loans, and insurance policies.
- Pensions: Options include pension sharing, lump sum payments, or offsetting pensions against other assets.
How are assets divided in a divorce?
In the UK, courts split assets fairly, following Section 25 of the Matrimonial Causes Act 1973.
The starting point for asset division is a 50/50 split. The court considers several factors, including:
- The welfare of any children involved
- Each party's financial needs and resources
- Length of the marriage
- Contributions to the marriage, including non-financial contributions
- Standard of living during the marriage
- Health and age of both parties
What happens to the family home during a divorce?
The court considers several factors when deciding on the family home. These include housing needs, financial capacity, and child welfare. Options include selling the property, one party buying out the other, or one party remaining in the home until certain conditions are met.
How are pensions handled in a divorce?
Pensions are considered a marital asset. They can be divided in several ways:
- Pension Sharing: One spouse receives a percentage of the other's pension pot.
- Pension Offsetting: One spouse retains the pension, while the other receives an equivalent value in different assets.
- Pension Attachment: Payments are made directly from one spouse's pension to the other upon retirement.
Common financial issues in divorce
- Property Division: Decide whether to sell or retain shared properties.
- Pension Sharing: Ensure equitable retirement provisions.
- Business Assets: Value and divide interests in family-run businesses.
- Spousal Maintenance: Agree on ongoing financial support if required.
- Child Maintenance: Ensure the financial well-being of children.
What happens if you can't agree to a financial settlement?
If you and your ex-partner cannot reach an agreement on dividing your finances, you can request a court to issue a financial order (also called a 'contested route' or 'ancillary relief order'). In this case, the court will determine how the assets are distributed.
General people think that all the financial ties will automatically end once the marriage is legally ended but unfortunately, this is not true.
The final order (previously known as the Decree Absolute) legally ends your marriage but it does not end your financial obligations to each other.
If you and your ex-partner cannot agree on how to divide your finances, you can ask the Court to issue a financial order to divide your finances and assets.
The Court will follow the general guidelines as set out in section 25 of the Matrimonial Causes Act 1973 when deciding the division of assets.
How much is the consent order fee?
In England and Wales, the Court fee for applying for a consent order is currently £58 and you must send the Court fee along with signed forms.
How long does it take to draft a consent order?
In most straightforward cases, a Consent Order is typically approved within three to five weeks. If the judge has questions, they will contact us, and we will promptly provide any additional information. In rare instances, you may be required to attend a court hearing.
How can our solicitors assist with your divorce financial settlement?
Our team of divorce financial settlement specialists in London can provide expert advice on divorce financial settlements, including asset and property division.
Our solicitors can assist with your divorce financial settlement in the following ways:
- Advise on your legal rights and options regarding assets division, spousal maintenance, and child arrangements.
- Help negotiate with the other party or their solicitor to reach a fair settlement.
- Draft a legally compliant consent order outlining the settlement terms.
- Ensure the agreement complies with UK family law and is enforceable.
- Submit the consent order to the court for approval and legal binding.
- Safeguard your financial interests and protect them from future claims.
Looking for a specialist financial divorce solicitor in London? call Wembley Solicitors at 0203 417 3700 for expert guidance on divorce financial settlements.
Contact divorce settlement solicitors in London
Contact our specialist divorce settlement solicitors in London at 0203 417 3700 for expert advice and guidance on financial settlements and asset division.
There are several ways to contact Wembley Solicitors:
- Phone - Call us on 0203 417 3700
- Email us - info@wembleysolicitors.com
- Online - Fill in our online enquiry form
- Live Chat - Click on the chat button below
- Visit our office - 561 High Rd, Wembley London HA0 2DW
Our team of immigration solicitors is based in Wembley, London about a 4-minute walk from the Wembley Central underground station which gives easy access to clients.
Legal Disclaimer
The information provided is for general informational purposes only and should not be taken as legal advice. While we make every effort to ensure accuracy, the law may change, and the information may not reflect the most current legal developments. No warranty is given regarding the accuracy or completeness of the information, and we do not accept liability in such cases. We recommend consulting with a qualified lawyer at Moeen & Co. Solicitors before making any decisions based on the information provided on this website.