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Going through a separation and divorce can be daunting, but it is important to ensure you receive the financial settlement that you are entitled to so that you have security for the future.
At SMR Solicitors, our family law team have expertise in agreeing financial settlements for clients in a range of situations, including complex and high value divorces. We are friendly and approachable and we understand how hard it can be to deal with divorce and finances after the breakdown of a marriage. We will always aim to make the process as stress-free as possible and ensure that we are available to speak to you throughout to update you as to progress and to answer your questions.
In negotiating a fair financial settlement on your behalf, we will take into account both your situation and any children you have. The main issues that we deal with can include the following:
- The family home
- Pensions
- Spousal maintenance
- Financial support for children
- Second homes, holiday homes and investment properties
- Business assets
- Shares and investments
- Providing divorce financial advice throughout
Our service is accessible and highly personal. As well as seeing you face-to-face, we can also advise you via phone, email or video link, whichever is easiest for you.
We advise clients across West Sussex in respect of financial and other aspects of divorce and separation and are particularly known for our expertise in representing high net worth individuals with complex financial circumstances.
At SMR Solicitors, we offer a free 20-minute consultation with one of our family law experts to discuss your situation.
We want our pricing to be fair and transparent, so we will give a realistic estimate of costs at the outset, including both our fees and all third-party costs, such as court fees.
Speak to our divorce finances solicitors in West Sussex
To discuss your requirements and find out how we can help, please get in touch to speak to one of our expert divorce financial settlement lawyers.
BOGNOR REGIS CHICHESTER EAST WITTERING SELSEY
Our divorce financial advice fees
At SMR Solicitors, we offer a free 20-minute consultation with one of our family law experts to discuss your situation.
We want our pricing to be fair and transparent, so we will give a realistic estimate of costs at the outset, including both our fees and all third-party costs, such as court fees.
We are always happy to discuss our fees with you, so please feel free to get in touch.
Divorce settlements explained
How long does a financial settlement take in divorce?
When an application is made to the court to deal with financial issues in a divorce, a timetable is set. The court will give directions for disclosure of financial information and set a date for a first appointment.
A date is then generally set for a financial dispute resolution appointment where the court will try and help you towards an agreement without the need for a full trial. If agreement cannot be reached, a date for a hearing is set.
The length of time taken for this process varies depending on the complexity of the case and how quickly steps such as disclosure of financial information are dealt with. If agreement cannot be reached and a full trial is needed, the process could take 18 months or longer.
What happens to the house in divorce?
For many couples, their shared home is their biggest asset. The court’s starting point in looking at divorce and property as well as other finances is to share the matrimonial assets equally. Where there is a home but few other assets, this can cause difficulties.
If there are children of the marriage, their needs will be prioritised and disruption to their lives minimised. This often means that the primary care-giver will remain in the property with the children.
The resident parent may be able to buy out the other parent or the non-resident parent could receive other assets by way of compensation, such as a pension.
The property could remain in joint names, but with the care-giver entitled to live there until the children have grown up.
What happens to pensions in divorce?
Pensions are considered matrimonial assets and can be shared in a number of ways. A pension sharing order could be made, transferring a percentage of one party’s pension into the other’s name.
Alternatively, the pension could be offset against other assets such as property or investments. Divorce and pensions can be a complicated area and it is recommended that you speak to an expert who will be able to talk through your options with you.
Is my spouse entitled to half my business in divorce?
The value of a business holding is generally included in matrimonial assets for the purposes of financial settlements after divorce. The first step is for the business to be properly valued by an independent accountant. One party could receive other assets to offset the value of the business so that the other party can retain control and ownership.
Do I have to go to court to get a divorce settlement?
The courts prefer that parties agree a settlement between themselves where possible. However, it is still always recommended that you have legal advice to ensure that your rights and interests are protected.
It is also important that financial orders are made in a divorce. If no order is made, then it remains open to either party to return to the other long into the future to make a claim.
If you have been able to agree a financial settlement, then this can be put before the court for them to seal as a consent order. This will make the agreement legally binding, meaning both parties can rely on it in the future.
Can I renegotiate a divorce settlement later?
It is difficult to renegotiate financial orders at a later date and this can only be done in exceptional circumstances where there has been a material change in the circumstances of a spouse or there has been dishonesty in failing to disclose matrimonial assets.
Do we have to stick to the terms of a prenuptial agreement during divorce?
The court will generally follow the terms of a prenuptial agreement where it has been drafted by a solicitor, both parties have had independent legal advice before signing, the agreement is fair, entered into voluntarily and all of the parties’ assets and liabilities were disclosed.
The court will however look at whether it would be fair to the parties to enforce the terms of the agreement and whether either of them have particular needs that means it would not be appropriate. The interests of any children involved will always be prioritised.
Speak to our divorce solicitors in West Sussex
To discuss your requirements and find out how we can help, please get in touch to speak to one of our expert divorce financial settlements solicitors in Chichester, East Wittering, Selsey or Bognor Regis.
