Financial Settlements

Anyone who has been through a financial settlement will testify that, it is one of life’s most emotional, stressful and challenging experiences. We understand that the financial issues can be complex, very costly and quite chaotic at times therefore using the services of a family law solicitor who specialises in matrimonial matters are highly recommended. We pride ourselves on being approachable and proactive in understanding and meeting our clients’ needs to mitigate both the stress and the cost for our clients.

Aaryan Solicitors has a very strong & robust family department. We offer a comprehensive range of matrimonial services to cater for all clients including divorce, separation, financial disputes arising from divorce and separation, children matters arising from the breakdown of a relationship, including residence (custody issues), pre-nuptial and postnuptial agreements, cohabitation agreements and separation agreements, cohabiting couple disputes and associated property disputes. We can also advise on all aspects of civil partnerships.

Our approach is professional and compassionate. We aim to provide all our clients with a first-class service and to assist them through the legalities of the breakdown of relationships. We appreciate how difficult it can be to discuss sensitive family issues and your matter will be handled in the strictest confidence.

Who may apply for a financial order?

The application may be made by the petitioner, or by a respondent who files an answer.
An application made in Form A or Form A1 (‘Notice of an application for a financial order’) starts off the process of financial settlement and trigger the court timetable.

What orders the Court can make?

The court has very wide powers to make orders on an application for a financial order, as follows:

• The transfer of property between parties, or to a child of the family
• The sale of property owned by one or both of the parties and distribution of the proceeds of sale to either one or both of the parties
• The payment of a lump sum or lump sums from one party to the other for their own benefit or for the benefit of a child of the family, or payment to the child of the family
• The payment of maintenance to one party by the other either for their own benefit or for the benefit of a child of the family
• Pension attachment or pension sharing orders

What to do if or when you reach an agreement

If or when you make an agreement with your ex about how you are going to sort out your finances when you get divorced, you must turn that agreement into a ‘consent order’ if you want to be able to enforce it.

Consent orders

A consent order turns an informal agreement into a court order. This means that if necessary, the court can make sure that what you have agreed actually happens. Without a consent order (or a final order made by the court after a hearing), it is always possible for either you or your ex to apply to the court for something different to what you originally agreed, even long after you are divorced. This is the case unless one of you remarries.

How the Courts decide on financial settlements

The law does not set out hard rules or use a mathematical formula to sort out your finances when you get divorced. This is because people’s financial situations are so different that it would be very difficult to make rules covering every situation. Instead, a judge has to decide each case after considering its particular circumstances.

The law gives judges (and you too) some basic principles that apply to all cases. If you and your ex try and agree how to share out what you have between you, the court expects you to take these principles into account:

• The welfare of any child of the family under 18 years old
• The income, earning capacity, property and other financial resources which each of you has or is likely to have in the foreseeable future
• The financial needs, obligations and responsibilities which each of you has or is likely to have in the foreseeable future
• The standard of living enjoyed by the family before the breakdown of the marriage or civil partnership
• Your age and the length of your marriage or civil partnership

Why Choose Aaryan Solicitors?