I am getting divorced; do I need a financial settlement?

A married couple have financial claims against each other in respect of income, pensions and capital. Those financial claims do not automatically come to an end even once a divorce is completed. This can leave the possibility of one former spouse making a financial claim against the other in the future.

To fully dismiss those financial claims, any agreement reached in respect of the division of a married couples finances must be drafted into an Order. Only once this is approved by the court will the financial claims be dismissed and the financial ties broken (save that there may be, for example, an order for spousal maintenance)

Whilst a financial order is separate to the process of getting divorced it is crucial to deal with the division of assets and to ensure any agreement reached is legally binding.

If you require any further assistance, or wish to book in for an initial consultation to discuss your situation, our family solicitors are based in Wolverhampton, Cradley Heath and Sutton Coldfield serve clients across the West Midlands. For all new enquiries, please call 01902 328 365 or complete our online enquiry form and a member of our team will respond.