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Formerly referred to as “Ancillary Relief”, financial remedy proceedings is the process of fairly distributing assets between both parties in a divorce or dissolution.
Supporting separating and divorcing couples
For separating couples, sorting out finances and financial settlements can be one of the biggest challenges, causing financial instability and worry for all concerned.
You may be anxious about your home, your savings, your pension and how you will manage financially following your separation. All these concerns, and the uncertainty that goes with them, can cause significant stress and this is why legal support from a financial settlement solicitor is recommended throughout financial remedy proceedings.
Maintenance pending suit
Also known as interim maintenance, maintenance pending suit is an order of payments from one spouse to another to support them financially throughout the divorce proceedings until the divorce is finalised. It is also possible to apply for an order to cover the cost of legal fees in certain circumstances.
An application for this type of support must be made through the Court and it involves submitting financial information which will be assessed. It’s important to get legal support at this stage to get advice on possible outcomes.
Our financial settlement solicitors
We understand that you need clear advice about your options for restructuring your family finances so that you can make informed choices. Our top-ranked specialist team, across our Newcastle and South Shields offices, includes several Resolution accredited specialists in complex financial and property matters. (Resolution is an organisation made up of family lawyers who are committed to the non-confrontational resolution of family disputes.)
We will advise you about your settlement options, including the various processes available to you for negotiating an agreement, including family mediation and collaborative family law.
In some cases, it may be necessary to go to court. This could be the most efficient and cost-effective way to progress your case. Our award-winning team of expert family lawyers will advise and represent you so that you can get the best possible outcome for you and your family.
Frequently asked questions
Can my ex take my pension?
A pension is an asset that can be divided upon divorce or dissolution of civil partnership. Your spouse or ex-spouse may be entitled to a share of your pension as part of a financial settlement because you were married whilst you were contributing to your pension. Our specialist team can advise you as to the likely outcome based on your circumstances.
How are finances divided on divorce?
There is no set formula for dividing the assets of a marriage when a couple get divorced. The starting point of the division of assets of the marriage is an equal division to both parties. Both solicitors and the Court have to consider the factors set out in section 25 of the Matrimonial causes Act 1973 to ensure the assets are divided in such a way that achieves fairness, and must consider the needs of any children of the family first. Our experienced team can provide advice on your individual circumstances.
Do we need a solicitor if we have agreed finances?
If you are happy with the agreement that you and your spouse have reached, either between yourselves or through mediation, you may wish to turn it into a Consent Order for the Family Court to approve, to prevent any future financial claims being made.
Alternatively, you may wish to take advice on whether the agreement you have reached is fair for you. A family solicitor can advise you further in each situation.
Can a divorce settlement be reopened?
There are very limited circumstances when a divorce settlement can be reopened once it has been approved by the Court, for example, significant non-disclosure of assets, fraud, or an unforeseen change in your circumstances.
To ensure that you receive a settlement that is fair for you, it is wise to take legal advice before having an agreement turned into a court order.
Alternatively, if you are concerned about the financial order you have received, contact our family department to obtain advice on the specific facts of your case and whether the order is able to be challenged.
