FINANCIAL ISSUES

During or after a divorce, there may still be a need for the court to settle disputes over money or property. The court can make a number of financial orders. This is known as Ancillary relief. Whenever possible attempts should be made to negotiate a financial settlement between parties.

A voluntary agreement between a couple whose relationship has ended can be formal or informal and verbal or written. You can agree, for example, that one of you will make weekly payments to the other for the support of children, or will meet rent or mortgage payments, household bills, or pay for the children’s clothing and holidays. An informal voluntary agreement avoids the need for, and the costs of, solicitors. However, there is no guarantee that a partner will keep to its terms.

If you have decided to divorce and have agreed what will happen about your financial arrangements, you may want to consider having your agreement made legally binding by way of a Consent Order. If this is the case go to our services page for further details of our Consent Order service If matters cannot be agreed, it may be necessary to issue an application to the court.

Either party can issue an application for Ancillary Relief after a petition for divorce is issued. Alternatively you may wish to consider mediation as a way forward. Visit our Mediation information page for further details. Which ever route you choose, you will need expert help and advice. This can be obtained through a lawyer or a financial advisor.

If a court is asked to consider financial and property issues, there are a number of orders the court can make. When deciding the division of capital and income, the court must try to achieve fairness between the parties. You will need to seek further independent advice from an experienced qualified lawyer.