Parties should reach financial settlements following the grant of the divorce, if not at the same time. Where financial settlements have been delayed there is a risk of subsequent financial claims being made. The high profile case in 2017 of Katherine Wyatt versus Dale Vince, which involved a financial claim being made many years after the divorce, highlights the risk of a claim popping up at any time in the future.
Not everyone will go on to make a multi-million pound fortune but circumstances do change – promotion; increase in pension values; receipt of inheritance; a lottery win – and getting a financial settlement resolved as part of the divorce may prevent claims being made many years later, on the basis of that later acquired wealth.
How do I get a financial settlement?
Your Family law specialist will assist you in reaching a financial settlement within the same period as completing divorce proceedings.
An assessment of how any capital should be divided will take into account key factors, such as;
- The financial needs and wellbeing of any children
- The financial needs of you and your spouse
- The length of the marriage
- Any pre-nuptial agreements entered into before marriage
- The assets of you and your spouse, including any pensions from both parties
What can we do if we can not agree on a financial settlement?
We aim to ensure that proceedings are not protracted and that children’s interests are considered above all. The first consideration must be financial disclosure. Sometimes this can be achieved on a voluntary basis. We can also advise you of the various options and suitability in order to reach a settlement to include negotiations, mediation, round table meeting, as well as the formal court process, depending on your circumstances.
The Steeles Law Family law team take a down-to-earth, sensitive approach to family law matters. If you would like to take legal advice with regard to your financial settlement as a result of a relationship breakdown our specialist family lawyer will be able to advise you how to protect yourself and your family for the future, please contact Sally Harris or Sally Briggs in the Steeles Law family team who will be happy to help you via email using firstname.lastname@example.org or by calling 01603 598000.