Spire Solicitors LLP have a highly knowledgeable and pragmatic team of financial settlement solicitors who are able to advise and support couples who need to come to an agreement regarding their finances. Our solicitors are accredited by the Solicitors Regulation Authority and Resolution as providers of specialist advice and guidance that best suits each couples’ individual needs.
What Is a Financial Settlement?
A financial settlement describes who gets what when a couple separates. It will lay out how assets are shared and ensures that their children’s needs can be met and enable both to move on from the relationship.
How Do We Reach a Financial Settlement?
Financial settlements can be agreed between the couple themselves or with advice and support from a solicitor. Our solicitors are known for their collaborative approach minimising costly litigation and emotional stress.
Once a settlement has been agreed, this can be formalised into a legally binding court order.
There are many different types of orders:
A periodical payment order is the regular payment of a sum of money either for the parties benefit or for the benefit of the children. It is commonly known as a maintenance payment.
A lump sum order is the payment of a specific sum of money and can be made as compensation for an interest in a property or investments, for example.
A property adjustment order is the transfer of property from one party to another or adjusting the ownership of the property between the couple. This is most used in relation to the family home.
A pension sharing order is the agreement to divide your pension assets at the time of your divorce and can allow the receiving party to become a member of the pension scheme.
Can You Settle Financially Before Divorce?
A financial settlement is available at any time during the divorce or civil partnership dissolution proceedings. In most cases, a financial settlement can be agreed at the same time as divorce or dissolution proceedings. However, it is highly recommended that a divorced couple seeks one before either party decides to remarry.
As members of Resolution, our solicitors are committed to resolving disputes in a non-confrontational and constructive way. This means our members are highly experienced in dealing with divorce disputes and advising on the best course of actions for yourselves both financially and emotionally.
Divorce, dissolution and separation is an extremely upsetting and distressing time and can be a very complicated process. Here at Spire Solicitors LLP we have a dedicated specialist team, who are able to provide you with support and advice initially through a fixed fee interview.
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