Finances after a Divorce

There are likely to be a number of financial matters that need resolving if you are in a relationship which breaks down or you get divorced, from what will happen to the family home, assets and your pensions to what financial support there will be for any children you have.

Whether you are going through a divorce, separation, relationship breakup or the dissolution of a civil partnership, at Rotheras we can help you in settling your financial issues with your former partner and come to an amicable and legally binding agreement.

Finances are usually dealt with separately to divorce proceedings but can be handled at the same time.

Financial matters can usually be resolved through negotiations between the couple, collaborative law or mediation. If your case does go to court, an agreement is often reached before the final hearing and our family team have considerable experience in the court process.

There are various options available for securing your finances, depending on whether you are divorced, separated, or have just entered into a relationship, that we can advise and assist you with. These include:

Pre-nuptial Agreements

If you are planning to enter into a marriage or civil partnership you might consider making a pre-nuptial agreement to protect your individual assets, which states decisions you and your partner have jointly made regarding the division of property and support from your spouse in the event of the marriage breaking up, divorce, separation or the dissolution of your civil partnership.

Pre-nuptial agreements are not currently binding under English law but are now being given increased recognition by the courts.

Post-nuptial Agreements

A post-nuptial agreement can be made once you are married, or if you have entered a civil partnership, you can draw up a post-partnership agreement.

Both you and your partner will need to fully disclose your finances and include information in the agreement about income and expected future income; property you own together and separately; pensions; possessions owned jointly or individually, loans, bills and debts and your Will arrangements.

Pensions

Pensions can be one of the most valuable assets in a marriage, so they are taken into account as part of the financial settlement on divorce and when dividing assets fairly between parties.

If you are divorcing your spouse and one party has considerably more valuable pension rights, we can advise on a pension sharing order, offsetting or earmarking.

A pension sharing order enables a percentage of one party’s pension to be transferred into a pension for the other party. In comparison offsetting is where one party retains their pension and the other party is compensated by receiving a greater share of other assets from the marriage, such as property.

Why use Rotheras for Financial Advice Regarding Divorce?

We will go through your wishes and fully assess your financial situation to give you the best possible advice about the settlement you are likely to receive.

We have Resolution accredited solicitors as well as specialists in collaborative law.

We can offer tailored advice on how to protect your wealth and assets based on your personal circumstances.

We can advise you on whether setting up a trust or family business investment would benefit you and your situation.

Once you have reached a final agreement we can advise you on a Consent Order if you enter into divorce proceedings or a separation agreement if you are not getting a divorce.

We can also advise on any inheritance received during the course of the marriage and whether this is considered matrimonial or non-matrimonial property.

We can advise on your potential future financial position during divorce proceedings, including any inheritance you could receive and benefitting from the expertise of our private client team who can discuss with you how to protect yourself from inheritance claims.

We can offer legal aid if eligible.

“We handle clients with sensitivity and understanding throughout”

Paul Cobb
Head of Family Law