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Financial Settlement

Are you looking for divorce & financial settlement Solicitors in Manchester? Speak to our experienced family law & divorce solicitor to get free advice today!

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Divorce & Financial Settlement Solicitors In Manchester

When a couple divorces, the main issue is usually the family finances. Assets need to be split for each party to be able to move on without any worries. The contentious issue will be over how the family assets should be divided, who is entitled or deserving, who should receive monthly maintenance for a spouse or children & whose needs come first, or what is ‘fair’. Trying to reach a financial settlement can lead to arguments and intensify hostility, which can result in more lawyer fees and legal costs.

The Property and money issues can either be settled with a mutual agreement or through court.

Our expert team of divorce lawyers at United Solicitors are specialists in divorce financial settlement matters. Our specialist team of divorce financial settlement lawyers can provide fast, affordable, and professional legal advice and representations in your divorce financial settlement.

No matter where you live, we can provide the required legal services remotely. At our office, 80% of our cases are being handled without the need for our clients to visit our office.

What is Divorce Financial Settlement?

During a divorce, a financial settlement is when the division of assets and other financial matters, such as ongoing support, are decided and recorded as financial orders.

How Are Assets Split In divorce?

In divorce proceedings, the Court will follow the basic guidelines set out in section 25 of the Matrimonial Causes Act 1973 when deciding how assets should be divided.

In accordance with this rule, section 25 of the Act identifies several issues that the Court may consider when exercising its powers to divide assets. These include:

  1. Current and future financial assets: According to the Act, “each party will consider their respective income, earning capacity, property and other financial resources that they have or will have in the foreseeable future.”
  2. Current and future financial needs: Just like future earning potential, the Court will consider how each party’s future financial obligations will likely affect their financial position in the future.
  3. The family’s standard of life before the breakdown of the marriage: Both parties must be allowed to enjoy the same standard of living as they did during the marriage as far as this is possible.
  4. The age of each party and the duration of the marriage: When a couple is young, without children, and has only been married for a short time, the Court may, depending on needs being met, issue a clean break order – an order preventing either partner from making a financial claim on the other.

It would make sense for a couple to preserve as much of their assets as possible for distribution between themselves in perhaps an already small pot of assets rather than use that to fund solicitor’s fees.

How Is The Property & Assets Divided After The Divorce?

When a marriage ends, there is no clear formula to determine what happens to shared property.

A judge will consider all the factors outlined above when determining entitlements, which may result in a different division than equality. Normally, each party’s housing needs and their ability to meet them are the most important factors. In situations where a weaker party has additional children to house, he or she may require a larger portion of the assets.

How Is Pension Split In Divorce Proceedings?

When two people are married for a longer period, the question of what happens to each partner’s pension becomes a major concern. The Court usually deals with pension issues in one of three ways:

  • Pension sharing: Former spouses are given a percentage share of their ex-spouse’s pension, which is transferred as a lump sum.
  • Pension offsetting: A pension is retained, but in exchange a claim on the family home is given up.
  • Pension attachment: A portion of the pension can be paid directly to another party on a regular basis, similar to a maintenance arrangement.

Frequently Asked Questions (FAQs)

What am I entitled to if I divorce my husband or wife?

There are no absolute rules for dividing assets in a divorce in the UK if your marriage breaks down. In any event, there are several principles that are usually followed, and it is important to consider all circumstances when deciding on a financial settlement.

How much money will I receive in the divorce settlement?

If a marriage breaks down, there are no absolute rules for dividing assets in a divorce in the UK. Generally, there are a few principles that should be followed when deciding on a financial settlement, and all factors should be considered.

What am I entitled to in a divorce financial settlement if all assets are in one partner’s name?

A divorce can involve a complicated division of assets. Even though they are not listed on the title deeds or mortgage, the other partner may be entitled to a portion of the property value if he or she owned it prior to the marriage. When it comes to dividing a house in divorce, or any other assets, there are many factors to consider. Get expert legal advice by contacting United Solicitors today.

How is a house divided in a divorce & financial settlement?

The family home may be treated differently in a divorce settlement agreement than some other assets, especially if children are involved. The courts will always look at what is in the best interests of children first and may issue a property adjustment order as part of the financial settlement between parents.

What is a clean break in financial settlement?

In some cases, all three elements are bound together in a one-off settlement and neither party can make further claims against the other. This is commonly referred to as a “clean break”.

Our Fees

  • For Unconsented Divorce / Dissolution of Civil Partnership, we charge a fixed fee starting from £700 + VAT to £1000 + VAT.
  • For Consented Divorce matters, we charge a fixed fee starting from £2500 + VAT to £5000 + VAT.

The fixed-fee will depend on the complexity of the matter.

  • Issuing financial proceedings for financial settlement until First Appointment Hearing £2000 + VAT £4000 + VAT
  • After First Appointment Hearing until First Dispute Resolution (FDR) Hearing £4000 + VAT to £6500 + VAT
  • After First Dispute Resolution (FDR) Hearing until the Final Hearing £5000 + VAT to £10,000 + VAT
  • Our solicitors will quote a fixed fee for your matter once we have fully assessed your matter and taken all the relevant factors into consideration.
  • Our fixed fees do not cover any disbursements including court fees, Barrister’s fees, and any other fees payable to third party.
  • Wae can also act for you on hourly rate basis with an hourly rate ranging from £200 + VAT to £300 + VAT per hour depending on the complexity of the matter.

Why choose United Solicitors for divorce and family law matters?

United Solicitors is one of the top family law firms in Manchester with almost 14 years of experience. We have the best team of family lawyers, who are always ready to tackle any difficult situation you may face with your partner or in relation to your children.

Whatever your legal needs, our family lawyers will support you and fight to protect your best interests. Our team includes expert negotiators, able to help you to find an agreement that suits everyone, keeping disputes out of court where possible.

If your case does have to go to court, we will be by your side every step of the way. We have experience in taking cases all the way to the Supreme Court if needed, so you can trust that we have the expertise needed to get the best outcome for you.

Contact our family law solicitor on 0161 225 8181 to get reliable & confidential legal advice and assistance with a divorce or any other family law matter.

For detailed advice, please book an appointment with our expert immigration solicitor today.

Fixed fee family solicitors

Our fixed fee divorce and family law solicitors can represent you in your divorce and family law matter on a fixed fee basis with flexible payments. We accept payment of our affordable fixed fees by instalments.

If you don’t want to instruct on a fixed fee basis, we can also take your matter on an hourly rate basis.

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