Financial Settlement

Financial Settlement
In order to separate your finances from your spouse you will need to apply for a financial settlement. A divorce that has been finalised does not automatically settle the finances of the couple and therefore the finances need to be dealt with in addition to the divorce.

The law in this area is very complicated and what you get will depend upon your individual circumstances. The court uses its discretion in deciding upon the finances and the starting point is the welfare of the children. The court will try and look for solutions that it will consider fair to both parties and in doing that considers a list of relevant factors in deciding upon each individual case. Therefore in order to advice you we would look at your full financial circumstances and needs and priorities before we can advice you of the relevant points that will apply to you. In order to save costs the courts have encouraged mediation between the parties so that the finances can be agreed before court intervention. Our starting point is to help the parties reach an agreement so that proceeding to court will be the last option as this is the most costly route.

Sorting finances is a very stressful process and we at Mikhael Law can guide you through the process and help you achieve a solution to enable you to focus on your future.