A financial settlement is a legally binding decision on how you and your partner will divide your financial assets, wealth, and property when your marriage ends.
Do I need to go to court to reach Financial Settlement?
You do not necessarily need to go to court to reach a financial settlement – you could agree on an outcome through methods such as:
Negotiating with your partner
Mediation
Arbitration
It’s worth noting that even if you agree on a financial settlement out of court, you may still need to address other issues, such as childcare, in court. Lumine Solicitors’ expert family solicitors will work closely with you to secure the possible result and guide you through this process if it ends up applying to you.
What can be divided as a part of a Financial Settlement?
When you and your partner separate, you’ll need to consider how to divide your assets and finances. The following can be divided as part of a final settlement:
Shares
Custody of any children
Savings
Pension
Rights over property
Liabilities for debts
How long does the process take?
On average, a financial settlement process can take between 8 and 12 months. If an agreement cannot be reached between partners, this process can take longer.
How can Lumine Solicitors help?
At Lumine Solicitors, we understand that every settlement matter is unique. Determining the course of action for each client requires a combination of thorough planning, legal knowledge, and sound judgment. Our family law team is equipped with experienced mediators who can assist you in reaching a financial agreement during your case. Additionally, if you need to pursue financial remedies through the court system, we can provide you with skilled litigation expertise.
For all family matters please do not hesitate to contact us on 020 3950 2246 or Contact Us HERE
