Financial matters on divorce

If possible, do try and sit down with your partner and agree a way forward.

If this is not an option, we would recommend that you try and agree to see a mediator, who will help you both to sit talk through the issues.

Whether or not you opt for either or both of the above options, we would recommend that you also come and see us for an initial advice as to the options available to you, to ensure that your financial best interests are properly considered.

The process of disclosure must always come first. Both of you need to be fully open as to what you own and earn. Once you, and your husband or wife are entirely clear about what is in the “pot”, you can start discussing how to share it.

The pot should be reviewed in specie:

• Capital
• Pension
• Income

Each of the above will need to be considered separately but also as a whole.

If you and your partner can agree what is to become of your assets and income, with or without the assistance of a mediator or ourselves, we can then review your agreement and cross check it against the legal test of “fairness”.

If we consider that your agreement will pass the legal test of fairness – about which we will fully advise you – we can then draft a Consent Order, in the same terms as your agreement, and file it court for the approval of a Judge. Only if the Judge considers it fair, will he/she approve it.

Once approved, the Consent Order will be binding on both of you.