Financial Issues

Following the breakdown of a relationship there are often financial issues that need to be addressed. Settling income and support for one another and for children, pension provision and division of assets such as the family home all have to be dealt with. It is always advisable to resolve the financial issues sooner rather than later to ensure that a financial settlement is reached. Unless dealt with on divorce spouses and civil partners could bring financial claims against each other many years after divorce or dissolution proceedings are concluded.  It is therefore wise to resolve the financial matters as soon as possible after the separation to bring future certainty.  

If you have separated from your spouse or civil partner you should therefore seek legal advice as soon as possible to help reach a financial settlement.   Once agreement has been reached it is advisable to set the terms down in a detailed written agreement to be signed off by both parties. If divorce or dissolution proceedings have taken place that agreement is known as a “Consent Order” and once signed by both parties it is filed with the Court for approval and it then becomes a legally binding Consent Order.  Where there are no divorce or dissolution proceedings the next best option would be to have a “Separation Deed” prepared which would detail the terms of the settlement and would be signed by both parties. Provided both parties have had the opportunity of seeking their own independent legal advice before signing the Deed, it is more than likely that the Court would uphold its terms if there was to be a dispute in the future.

If you have family related issues and need to seek advice or need a solicitor to give you support then don't hesitate to give us a call on 01908 660966 for our Milton Keynes office or 01604 828282 for our Northampton office. Alternatively fill out our online contact form. Our dedicated team of family law specialists are always happy to help.