Financial Remedy
The Division of Assets Upon Divorce

When a couple are getting divorced they often think that everything else simply falls into place. It doesn't. You must sort out the finances, if you don't do so then you leave yourself open to a great deal of problems in the future. A divorce means that you are ending the 'marriage contract' but that doesn't mean that the assets of the marriage are automatically split between you. The financial side of things is a separate matter from the divorce and it is vital that you get it divided up and sorted as soon as possible.

 

Once the assets have been divided we then apply to the Court for a 'Consent Order'. This is the document that legally divides the assets in the way that you have agreed and then neither party can come back in the future to seek more from the other.

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There are various ways that the finances can be sorted out:

• Mediation

• Negotiation

• Court

 

The Court process is lengthy and can involve up to three Court hearings. It is also the most expensive way to complete the process so we always advise negotiating a settlement without the need for the Court to be involved except for granting the Consent Order. Mediation can be lengthy and also expensive, where as if we can negotiate a deal for you this is by far the least expensive way.

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Solicitor and indeed most legal firms work on an hourly rate for this type of work. Using a solicitor for this can mean that you have to deposit at least £5,000 onto their client account and they carry out their work at an hourly rate, often in excess of £240 per hour, and deduct it from the money you have put on account. When the money has dwindled away they will ask you to 'top-up' the account. By the time you go through a Court process with solicitors it will not be surprising to learn that you have got through somewhere in excess of £25,000 at the end of the process.

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We work slightly differently than your traditional solicitors firm in so far as we charge only £100.00 per hour, thus your legal bills will be far less than a solicitors fees. 

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Negotiating a Settlement

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We will assist you with form filling, gathering the various documents you will need to support the application form, including all telephone calls, letters, emails and preparing offers of settlement to the other side. If we are able to agree a settlement with your ex-partner then we will draft a Consent Order and submit this to the Family Court for approval by a District Judge. The cost of the Consent Order drafting is £500.00

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Once the Judge has approved the Order then it will be 'sealed' by the Court and the whole financial matter is concluded.

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The Court Process - If negotiation doesn't work

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If we cannot agree a settlement then the matter will have to go through the Court process. This can mean up to three Court hearings. The Court process takes some time to go through and can also be an expensive route to take. We prepare all the documentation for you and can provide an advocate to attend Court should you require it.​