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In order to understand what a reasonable financial settlement would be in your circumstances, you and your partner should first exchange full and frank financial disclosure. Our solicitors can advise you about what information you and your partner should be sharing with each other and what factors would be relevant when coming to a reasonable settlement.
Once you and your partner have reached an agreed arrangement, whether agreed between you, at mediation, or negotiations through solicitors, you need to obtain a consent order which sets out the terms of the agreement.
Our expert finance solicitors can advise and guide you through the process, including assisting in negotiations with your partner and making any application to court. To speak to a member of our team regarding reaching a financial agreement with your partner or obtaining a consent order call us today on 0161 696 6193.
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The court has the power to make a variety of different orders, including periodical payments (otherwise known as maintenance payments), lump sum payments, property adjustment orders (transferring legal ownership of an asset), and pension attachment/sharing orders.
The order will need to be approved by the court to ensure that it is legally binding. The court will require an application to be made along with details of the assets available to both partners, and information such as children of the family. The court will then consider whether the terms of the settlement are broadly fair in light of all relevant circumstances. If satisfied, the court will grant the order making the agreement legally binding. If the court considers they require more information, this can be requested to be provided in writing or very occasionally list a hearing where both parties will need to attend.
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