How Can Our Family Law Solicitors Help?
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 financial and other needs of any children
- The current earnings of both parties
- The potential future earning capacity of both parties
- Length of the marriage
- Standard of living enjoyed during the marriage and income needs
- Contributions that both parties have made to the marriage, both financial and otherwise – including looking after the house or caring for children
- Assets of each party, including accrued pension values
Financial Settlements Explained
Reaching a Financial Divorce Settlement Agreement
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.
What is a Clean Break Agreement?
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.
Update Your Will
If you have a Will in place with your spouse and you are getting divorced, do not forget to change your Will. We can help you.
Case Study
Fair Financial Outcome, when there is a Large Disparity in Income
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.
Why choose Banner Jones Family Law Solicitors?
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.
Mrs L, HaslandDivorce
You can't begin to imagine how grateful I am to you. You have been matter of fact rather than thinking about the earning potential. You are a lovely women so thank you so so much.
Mr C, WaltonDivorce and Family Law
Happy with the professionalism of the service.
Mrs W, SheffieldDivorce and Family Law
Thank You so much for your help and support through this difficult time.
Mr J, HucknallDivorce and Family Law
The service was excellent.
Mr G, Forest TownDivorce
Exceptional service at a very reasonable cost.
Mr G, StaveleyYou were very helpful and sympathetic whilst dealing with my case and your knowledge and advice was excellent. Once initiated, my case was dealt with speed, professionalism. Good contact and communication was maintained throughout.
Mr J, SheffieldEfficient, compassionate, honest and realistic advice that instantly generated deserved trust. On time every time.
Mr T, Whittington MoorBanner Jones are excellent, the Family team had some strategy to their advice rather than just giving bog standard legal advice.
Ms S, SheffieldI used Kelly Parks for my divorce, and both her and her secretary, Dawn, were professional, efficient and friendly. I have used other solicitors before, but Banner Jones are by far the best.
Mrs D, GrassmoorAbsolutely brilliant service. Thank you so much!
Miss M, ChesterfieldBanner Jones Solicitors provided an excellent service in what was a slow and difficult divorce matter. The advice and persistence was very reassuring and eventually led to a good outcome.
Mrs W, MansfieldVery efficient, friendly and professional. We would definitely recommend to friends and family. They made the whole experience problem free.
Mr & Mrs S, BridlingtonWe’re really grateful for the work you did for us. 10 out of 10!
Mr C, DronfieldVery easy to make appointments, very personal service from all people at Banner Jones, my solicitor was very friendly and put me at ease. If I needed a solicitor again, Banner Jones would be the first on my list.
Miss H, NottinghamshireBrilliant service, kept well informed all the way through the process. Would definitely recommend.
Mr & Mrs D, MansfieldCannot fault the service, efficient, prompt and cautious. Matters explained very well and clearly. Pleasantly surprised.
Mr W, NottinghamshireService provided was excellent. All the staff were very helpful, considerate and professional. I would highly recommend to friends and family.
Ms C, ChesterfieldI would recommend Banner Jones Solicitors 100% to anyone. Completely trustworthy, efficient and kind. You can rely on them to do everything they possibly can to fight your corner and protect your interests. Banner Jones' team will also go the extra mile to help too.
Ms M, SheffiedI thank you for your kindness and patience in dealing with my case. It has been much appreciated and we all got there in th end! Wsihing you very best wishes for the future.
Ms M, ChesterfieldThank you for everything you have done Kelly.
Miss K, SheffieldThat was absolutely quick and fantastic. You have been great since I chose you to be my solicitor, massive thanks for all your help during the year .
Mr D, ChesterfieldI’d like to take this opportunity to thank you and your team for all your help.
I wish you all well.
ArchitectIt was extremely convenient to be able to discuss my case with Kelly before work in the morning. This avoided us missing each other, did not interfere with my work day and I knew that if I had something to deal with during the day I could discuss it with her the following morning. Our lives have been turned upside down during the pandemic and as such we all have to work more flexibly. It was refreshing and reassuring to see Banner Jones Solicitors embracing this flexibility by responding positively and dynamically to their client’s needs and pressures.