Resolving financial issues in divorce
Richard England, divorce solicitor, Sutton Coldfield
Divorce settlement – how can they be reached? I often get asked to advise couples in respect of the best way to resolve the financial issues of the divorce. What I say first of all is the best thing to do is to try and reach an agreement between you because otherwise there can be substantial costs involved in arguing using lawyers. In any event I make clear that it is important that they need to do as much of the groundwork they can in terms of setting the landscape of the financial picture, i.e. getting all of the financial information together, that is a very cost effective way of engaging your lawyer who can then advise you and hopefully move forward swiftly to a settlement.
Once you reach a financial agreement it is important that that is set out in a legally binding document called a consent order and that must be approved by a Court otherwise either party could go back on it at any time in the future. It is therefore important that separating couples seek professional advice from a specialist family lawyer.