Financial Settlements Solicitors in London

Financial Settlements

What is a Financial Settlement?

A financial settlement aims to equitably divide marital resources, enabling each party to independently move forward while meeting their financial obligations and those of any children. Fairness is determined by individual circumstances.
When terms are agreed upon, preparing a draft Consent Order is necessary for court approval. The sealed Order ensures a legally binding agreement. If agreement isn’t reached voluntarily, arbitration or a court application may be considered.
The financial settlement encompasses all financial claims at the end of a marriage, covering assets, income, pensions, property, and movable items like cars, artwork, and jewellery. It also addresses potential maintenance for a spouse and/or children.
We understand that each couple has unique financial needs and priorities. Our approach ensures we consider your priorities to achieve the best possible outcome.

When Might Family Financial Issues Arise?

Separation of Unmarried Couples: Issues can arise when parties separate after living together as a couple without marriage or a Civil Partnership.
Divorce: Financial issues commonly surface during the divorce process.
Judicial Separation: Separation sanctioned by a court without ending the marriage can lead to financial disputes
Dissolution of a Civil Partnership: Ending a Civil Partnership may involve financial settlements.
Child-related Claims: Claims may be made by or on behalf of a child against a parent.
Death of a Partner or Spouse: Financial issues can arise if no reasonable financial provision has been made upon the death of a partner or spouse.

What are Marital Assets?

The "marital pot" includes all income and assets each party is entitled to worldwide, regardless of ownership timing relative to marriage. Full financial disclosure via Form E is crucial for fair divorce financial settlements, and we assist in preparing and exchanging these documents.

Financial Applications in Divorce Proceedings

The court process begins with a financial application, where the court provides directions for case progression, including exchanging financial disclosures using Form E.

Typically, a financial application involves three court hearings:

Financial Dispute Resolution Hearing

Here, a judge reviews provided information and encourages negotiation. If an agreement isn't reached, the matter proceeds to a Final Hearing.

Final Hearing

A judge considers all evidence, including witness statements and oral testimonies, to determine the financial settlement terms.

First Directions Hearing

This procedural hearing decides necessary case steps, such as document requests or valuations.

Our Services

At Lumine, we offer comprehensive services to assist you with the financial settlements effectively:

Initial Consultation: We offer an initial consultation to understand your unique circumstances and provide you with clear advice on financial settlements, your rights, and the next steps.

Asset Valuation and Division: Our experienced solicitors assist in valuing and dividing marital assets, ensuring a fair and equitable distribution

Spousal Maintenance: We provide guidance on spousal maintenance, helping you understand your rights and obligations, and negotiating fair agreements.

Pension Sharing: We offer expert advice on pension sharing arrangements to ensure that retirement assets are fairly divided.

How can Lumine Solicitors help?

At Lumine Solicitors, we understand the intricacies of financial settlements and are dedicated to providing personalized and effective solutions. Here's how we can help

Expert Advice: We offer clear, concise, and practical legal advice tailored to your specific circumstances.

Compassionate Support: Our team provides compassionate support throughout the divorce process, ensuring you feel understood and supported.

Strategic Approach: We develop customized strategies to achieve the best possible outcome for you.

Cost Certainty: We offer fixed, competitive, and transparent fee packages to maintain cost certainty.

For assistance with financial settlements, please do not hesitate to get in touch with Lumine solicitors 020 3950 2246 or Contact Us HERE We are here to help you navigate the complexities of family law and achieve the best possible resolution for your situation.