The breakdown of a marriage or civil partnership is a life-changing event, and one that can be intensely difficult to deal with. Amongst all the practical issues that need to be dealt with, one of the most singularly important ones to resolve is how finances will be managed once the relationship ends. Since divorce doesn’t automatically cut financial ties, that often means a formal settlement is often required to divide assets, income, and responsibilities.
At Fisher Jones Greenwood, our divorce financial settlement solicitors in Clacton-on-Sea are passionate about providing you with clear, practical advice to guide you through the entire process, and make it as smooth and stress-free for you as we can. With more than 40 years of history serving families across Clacton and the wider Tendring area, we understand the challenges involved, and the complexities and nuances that can often characterise these situations. We have extensive experience in both straightforward cases and complex matters involving pensions, multiple properties, or businesses, and we work to protect your financial position at every stage.
A divorce financial settlement is a legally binding agreement that essentially sets out how finances will be divided when a marriage or civil partnership comes to an end. It can typically cover a broad range of financial matters, including family homes, investment properties, pensions, savings, business assets, overseas interests, and debts. If there are children are involved, the settlement also ensures that housing, education, and everyday needs are properly provided for.
How is a financial settlement calculated?
When considering a settlement, the court looks at several factors before approving or imposing an order. These include:
It’s worth noting that fairness is one of the overriding principles that the court aims to achieve, so what it judges to be fair might not be an equal split. Spousal maintenance may also form part of the order in situations where income or resources need to be balanced over the longer term.
The process begins with both parties giving full financial disclosure, which sets out details of income, property, pensions, debts, and liabilities. This ensures that you and your partner both have a clear view of the full financial picture.
Once this initial disclosure is complete, negotiations can begin. These discussions may take place directly between you and your former partner, through solicitors like our team at Fisher Jones Greenwood, or within mediation. If an agreement is reached, the solicitors can prepare the terms into a consent order, which is submitted to the court. When approved, the order becomes legally binding.
If negotiations do not result in agreement, then either party can apply to the court for a financial order. This usually involves three stages of hearings: a First Directions Appointment, a Financial Dispute Resolution hearing, and if necessary, a Final Hearing. The judge will then impose a binding settlement. While court proceedings can take longer, they can at least give certainty when disputes cannot be resolved.
A clean break order is a type of financial order that ends all financial ties between former spouses or partners. Once approved by the court, it prevents either person from making future claims against the other’s income, property, or assets. This kind of order is particularly helpful where both parties want to achieve clarity and independence once the divorce is finalised. It may not be suitable in circumstances where ongoing obligations remain, such as spousal maintenance or support for dependent children.
At Fisher Jones Greenwood, we leverage decades of extensive legal expertise to make life as easy for you as we can during what can be a very difficult time. Our family law solicitors in Clacton-on-Sea can guide you through every stage of the financial settlement process. We’ll ensure that all income, assets, and liabilities are fully disclosed, and we can also negotiate on your behalf to reach a settlement that safeguards your interests. If you and your partner succeed in reaching an agreement, we’ll prepare a consent order to make it legally binding. If a hearing is required, we have all the knowledge and skills we need to represent you effectively in court.
We provide advice tailored to your situation, whether you’re a parent arranging financial support for children, a couple without dependants, or someone looking for more clarity on pensions and retirement planning.
Our work on financial settlements is part of our broader family law expertise, which also encompasses divorce proceedings (in which we can handle every legal step needed to bring your marriage to an end) and child arrangements – which generally involves helping you to reach agreements on important subjects like where your children live, how often they spend time with each parent, and how decisions are made about their welfare.
At Fisher Jones Greenwood, we’ve been advising clients in Clacton and the wider Tendring area for more than 40 years, and we’ve built a strong reputation for reliable legal support in family matters. We’re distinguished by our friendly, personable approach, as well as our focus on clear, straightforward communication that’s free from any unnecessary legal jargon, so you can stay fully informed and supported throughout the process. Several members of our family law team are accredited by Resolution, reflecting our commitment to resolving matters constructively and helping families reach agreements that are workable in the long term.
You can visit our divorce solicitors at:
Fisher Jones Greenwood LLP
73 Station Road
Clacton-on-Sea
Essex
CO15 1SD
Our office is located close to Clacton town centre, within easy reach of public transport links including Clacton-on-Sea railway station. The building includes ground-floor meeting rooms and accessible facilities for wheelchair users. There is on-street and public car parking nearby.
If you’re dealing with the financial aspects of divorce and need clear, reliable legal advice, look no further. You can choose from a couple of ways to contact us, including:
Whatever the nature of your situation or the background to your case, you can always expect the same unrivalled standard of service – all of it geared towards giving you complete peace of mind.
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