Financial Matters

When dealing with divorce proceedings the financial aspects also need to be addressed and resolved. In particular the following issues need to be considered:-

  1. Maintenance
  2. Maintenance for any children
  3. Lump sum payment
  4. Transfer/Sale of property
  5. Transfer (share) of pension
  6. Division of any other assets

We encourage clients to attempt to resolve the financial aspects of the divorce on an amicable basis if at all possible. This is often achieved with the assistance of advice from our experienced solicitors and via a referral to mediation. If an agreement is reached on an amicable basis then the provisions of the agreement can be incorporated within a Consent Order. This is an Order of the Court approved by a District Judge and has the affect of a Court Order. Dealing with matters on this basis avoids the hostility and expense often associated with Court proceedings which can often become protracted thereby increasing costs even further.

In the event that an agreement cannot be reached then an application can be made to the Court to enable the Court to make a decision as to how the finances are to be resolved. Once proceedings are issued the Court will set a timetable to include dealing with the filing of financial statements and documents. Even if proceedings are issued it is still possible to reach an agreement without the necessity of a final hearing. The majority of cases do not require a final hearing and are often settled at the Financial Dispute Resolution hearing which is a hearing designed to try and resolve matters or at least narrow down the issues of dispute.

Financial matters can be complex and it is important that all issues are addressed and that proper advice is sought to achieve the best possible outcome available in the circumstances.


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