Financial Settlements

There is no standard formula calculating financial provisions on divorce and the Court will consider all the circumstances of the case and a range of issue statutory factors known as s.25 factors (s.25 Matrimonial Causes Act 1973). These are:

• The income and capital resources available (existing or reasonably foreseeable in the future)
• Financial needs, including:
  • The ages of the parties and the period they have been married;
  • The standard of living enjoyed by the parties; and
  • Any disabilities.
• Further factors are:
  • In exceptional circumstances, the conduct of a party;
  • The contributions made by each party; and
  • Any benefits a party will lose because of the divorce.

The above factors are used to calculate and distribute the available resources between you and your separating partner. The first consideration, before applying the s.25 factors, will be the welfare of any children.

The starting point will be 50% - 50% split. This is appropriate where the assets provide sufficiently for the parties and children. In some circumstances, unequal division may be necessary, and the parties can argue as to why they consider that a greater share of the assets should be received by them. If possible, the Court will try to achieve a clean break, so the parties are not financially reliant on each other in the future. The types of Orders that can be applied for are:

• Maintenance Pending Suit: This order is an interim order for your ex-partner to make regular payments to you whilst the financial proceedings are on-going.
• Legal services Order: This order can be where the Court order your ex-partner to pay money towards your legal costs.
• Maintenance Payments: This order would require your partner to make regular payments for a fixed period or on an on-going basis.
• Lump Sum Payments: This order would grant a lump sum payment from your ex-partner which would be payable together or in instalments.
• Property Adjustment Orders: This order can include orders to sell, transfer or settle in trust the property for you or your children’s benefit.
• Compensation for loss of Pension Rights/Orders – This order can include a sharing or attachment order for entitlements.
• Child Maintenance: This order can be for periodical payments for maintenance of the child.

The process of resolving financial matters is difficult enough, without the parties becoming embroiled in needless arguments. The aim of the matters should be to try to achieve an agreement without unnecessary costs, disputes and proceedings. Our experienced team will work hard to protect your financial position and assist you. We can also access our wide-ranging experts to ensure that your case is prepared appropriately. It is important to have legal representation that can help you to understand the complex matters, we consider our team is in an excellent position to consider your matter and assist you. Please contact us if you need any assistance.

	Azhar Hussain Head of Family Law Department
	Azhar is an experienced, intelligent and dedicated professional, with a proven track record that includes high net worth clientele. He has developed his career within the competitive London legal sector and regularly advises on issues arising from the breakdown of a relationship. Including but not limited to; separation, children and financial affairs