financial settlement solicitors

Financial Settlements

A financial settlement as part of your divorce or separation is a legally binding agreement that details how your assets, such as property, businesses, pensions, savings and investments, along with debts, are divided. Our job is to negotiate a financial settlement that is fair to you and agreeable to the other party, which protects you for the future.

What is Included in a Financial Settlement?

The family home is usually the biggest single asset for a family. Pensions, businesses, savings and investments form part of your asset division, as well as debts, liabilities, and any pre-existing settlements from past relationships.

Your agreement may also depend on the nature of your relationship; married, civil partnership, or cohabiting couples may be viewed differently by the law, and very often we find that people have misconceptions about what they are owed.

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What Is ‘Fair’ In A Financial Settlement?

A broad starting point is a 50:50 split. The court then looks at Section 25 of the Matrimonial Causes Act 1973 which sets out a list of factors to consider. These include:

  • First consideration is given to the welfare of any child of the family under the age of 18
  • The financial needs, obligations and responsibilities which each party has or is likely to have in the foreseeable future
  • Your income and your spouse’s income
  • Your individual earning capacity now and in the foreseeable future
  • Any property, investments or pensions either party has (including pension sharing order)
  • The age of each party and the length of the marriage
  • The standard of living enjoyed before the breakdown of the marriage
  • Contributions made by each party to the welfare of the family, including any contributions by looking after the home or caring for the family
  • Any health issues

How Our Specialist Family Solicitors Can Help

Our specialist family team will invite you to an initial consultation to discuss your financial situation. They will request financial information to gain a clearer picture of your circumstances. Once the information is collated, our solicitors will talk you through the possible financial outcomes and put forward proposals to the opposing party or wait for the opposing party to put forward their proposals. Negotiations are commonplace, and our experienced team can protect you from the stress of dealing with this directly. If, following negotiations and mediation, no agreement can be made, our solicitors will guide, support and represent you in court to agree a financial settlement

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For your first initial consultation, please contact us on 0161 429 7251 or email [email protected] to arrange a fixed fee first appointment. The meeting will last up to 1 hour in our Stockport office at a cost of just £120 + vat @ 20% after which we will provide you with a comprehensive written report of our discussion along with our professional advice.

To arrange this fixed fee first appointment, please call us on 0161 429 7251 or email [email protected]

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WHAT OUR CLIENTS SAY ABOUT US

Very helpful and professional advice resulting in a very satisfactory outcome to my divorce. Highly recommended.

Mr C.

I just wanted to say thank you and express my appreciation for the support you gave me during this very long and stressful period of my life.

I commend your professionalism and communication skills. Though the wait was long and frustrating at times, you took the time to explain things to me and answered my questions with honesty. You were never dismissive nor disrespectful as some previous legal practitioners were since the start of my journey and I appreciated that.

Please never change and from the bottom of my heart, a massive thank you.

Mrs A.

I have had the pleasure of having a few dealings with Mark Higgins and him taking care of us. I can’t speak highly enough of Mark. His knowledge and attention to detail is first class.

Mr M.

Upon commencing my association with Higgins Miller, I experienced a heightened sense of apprehension and anxiety regarding the impending legal proceedings. Throughout the course of the year, I interacted with several solicitors, each of whom demonstrated exceptional professionalism and dedication. They maintained consistent communication, providing me with regular updates and effectively alleviating my concerns. Ultimately, I emerged victorious in my case, and I am profoundly grateful to Higgins Miller for their invaluable assistance. Without their expertise and support, the outcome could have been drastically different.

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