At Banner Jones we can offer guidance on suitable Divorce Financial Settlements.
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Among the first questions we are asked are: "how will our finances be divided?" and "how will we come to a divorce settlement agreement?" At Banner Jones our experienced divorce solicitors based in Chesterfield, Dronfield, Mansfield and Sheffield will work with you to achieve the best divorce settlement available.
Divorce Financial Settlement negotiations take into account several factors including:
The ideal solution is for an amicable financial divorce settlement agreement to be reached by negotiation between both parties and their divorce solicitors. This will help to minimise legal fees and avoid the necessity of going to Court to reach a divorce settlement.
If an agreement can be reached out of Court then your divorce solicitor will draw up a consent order giving full details of the agreement reached. Both parties sign this agreement and it is then sent to the Court for a Judge to check it is reasonable before the Court endorses it as a legally binding order. We would always advise couples to try and come to an agreement on the divorce settlement before having to go through the Court process.
A clean break is a type of divorce settlement where all finances are finalised at the point an agreement is implemented. It usually involves a split of assets between the parties with no ongoing spousal maintenance.
A clean break is also achievable in cases where spousal maintenance would normally be payable. If enough assets exist to enable the party liable to pay maintenance to transfer assets of a suitable amount, then this can negate the payment of maintenance on a capitalised basis.
Once a clean break has been accepted by the court neither party can try to claim additional assets or maintenance at a later date, no matter what their change of circumstances.
A clean break agreement applies only to your spouse. It is not possible to get a financial clean break in respect of your children as you have an ongoing responsibility to support them.
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The wife’s solicitor proposed that only the amount of pension accrued during the marriage should be used in the settlement, however, I was able to assist my client using recent developments in case law regarding pensions. Recent case law stated that in a needs case, the full value of the pension should be taken into consideration and on this basis, I was able to negotiate a pension sharing order taking into consideration the whole pension pot. It was agreed that £410,855 would be transferred to the husband who at the same time will retain his pension. This lead to an equalisation of the pension pot and a very satisfied client.
The wife took on the debt of £600k and remained in the family home. The husband was therefore left debt free, enabling him to obtain a mortgage to by another property.
Given the disparity of income, spousal maintenance was considered for my client, but not pursued on the trade-off that the wife would not pursue child support. A separate contract was drafted in this regard as the court does not have jurisdiction to order that no child maintenance is payable.
This case was completed without a face to face meeting with my client, and is testimony to the convenience and ease of virtual and telephone appointments.
At Banner Jones we have a team of expert divorce solicitors who are highly experienced and will treat each case uniquely depending on your circumstances. Our family law specialists achieve solutions through confidential settlements, we will ensure that we get the best financial settlement for you. We have worked on many divorce cases and have been successful at achieving the best divorce settlements for our clients.
We have offices in Chesterfield, Sheffield, Dronfield and Mansfield.
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Non-residential parents have to pay maintenance for their children; hopefully the amount can be agreed though negotiation and if not then the CSA will decide. Each case is different. If for example the Mum and the children stay in the family home then she may relinquish her claims over any other assets such as pension and savings in return. Our family law solicitors can advise on your specific circumstances.
You can get divorced in England or Wales if all of the following are true:
The aim when sharing out matrimonial assets is to be fair. Both spouses have to make full disclosure about their assets and debts before any decisions can be made about distribution, trying to hide anything won't work. Factors which are important when sharing out the assets include the current and future needs of each spouse and any dependent children; the length of marriage and the age, earning capacity and contributions of each party. Our family law Chesterfield team can guide you through this process.
Your aim should be that both parents still play an active part in the raising of the child/children. Usually, parents sort this out amongst themselves, although if there are problems, mediation can be a good way to resolve this. Our family law solicitors will advise you on Shared Care Agreements and Live With and Spend Time with Orders. Going to Court should always be the last resort when children are involved.
No, getting a divorce should be an administrative exercise only, and there are many options open to you that avoid going to Court.
No fault divorce removes the need to prove one of the five facts of divorce (adultery, unreasonable behaviour, desertion of two years, separation of two years with consent to divorce and separation of five years without consent). Instead, only a statement of irretrievable breakdown will be needed.
A couple can file for divorce once they have been married for at least 12 months. There is no need to apportion blame or fault, as was the case under the previous law when parties had not been separated for a period of over 2 years.
Our divorce solicitors are on hand to explain how this works.
A divorce solicitor will:
This is not an exhaustive list but illustrates that the divorce itself may only be a small part of the legal process of relationship breakdown.
To file for a divorce you usually have 3 options:
Remember that this is just to start the divorce part of the process. The parenting and financial arrangements will normally need to be agreed separately to this part.
Divorce for most people will take a minimum of 26-weeks or six months, with additional time for the conditional order application to be considered and pronounced. If the couple need more time to complete their divorce, then the law will allow for this.
In exceptional circumstances (such as terminal illness or imminent birth of a child to one of the parties), it may be possible to have this process expedited.
It makes sense that if your separation is less contentious, then the legal costs will be lower, but there are often financial arrangements to sort out as well as dissolving the legal marriage or civil partnership.
With a no-blame culture in place, it is hoped that it will encourage more constructive discussions leading to better, and therefore less expensive, outcomes. However, there is no guarantee that this will necessarily be the case. A no fault divorce financial settlement is the same as any other divorce settlement, and may include maintenance and the division of assets etc.
For clarity on costs, speak to our family law solicitors in Sheffield.
It is possible for one party to contest a no fault divorce in the same way that they could contest a traditional divorce. This occurs when the parties cannot agree on the terms of the divorce, i.e. a fair division of money and assets, maintenance, child arrangements etc. If this occurs, then the case will be put before a judge, unless the couple agree on ADR (alternative dispute resolution) such as mediation. Our divorce solicitors can explain your options.
There is now very little you can do to contest an unwanted divorce, unless there have been procedural errors in the application – which is rare.
As the old process of divorce required one party to divorce the other and provide reasons for their desire to divorce, it was difficult to focus on moving forward without conflict. Old divorce law (prior to 6 April 2022) dates from the 1970s and did not adequately reflect modern society and introduced an unnecessary element of delay or conflict in the divorce process.
Without the need for blame to be apportioned, it is likely that the process will be less upsetting for many, helping children get through a very difficult time. The change in the law will help avoid increased conflict. It will also help the co-parenting that will need to take place even after the marriage has been dissolved.
These are separate areas of your divorce and are not covered under the no fault divorce law. You will need to reach an agreement on how you are going raise your children whilst living separately and also agree on a fair division of your assets and any ongoing payments.
If you are struggling to agree between yourselves, family mediation is the next step as it is a pre-requisite for going to court for a decision in most cases. But there are also other options outside of court if mediation breaks down or is not suitable for your situation.
Our Family Solicitors in Sheffield, Chesterfield and Mansfield will be able to advise you on your options.
You can apply for a no fault divorce online via the Government website.
The online process may work for straightforward divorces where you can agree the grounds for divorce between yourselves, where both parties are co-operating with the divorce and where there are no issues over costs and/or children. However, having a solicitor providing legal advice ensures that you are supported throughout the process which can help to reduce the emotional burden. A solicitor can also ensure that the forms are completed correctly so that there are no delays and increased costs incurred by errors made on the forms.
If you have managed your own divorce online without legal help, it is worth nothing that you have still not actually finalised your divorce until you have dealt with your financial affairs. Some couples are able to negotiate and agree financial terms amicably, but a consent order is the only way you can ensure that any agreement reached is legally enforceable.
The consent order records the terms of the financial agreement you have reached and legally severs the financial ties between you. Without a consent order from the court, there is the possibility that your ex could make a claim for a share of your assets, property, income or pensions in the future.
For peace of mind, contact our divorce solicitors who will be in a position to provide full and clear advice specific to your circumstances.
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