Financial Settlement Solicitor Services

London, Newcastle and other major cities in the UK - Family Law Services

When a marriage or civil partnership ends, sorting out financial matters can feel overwhelming. At Canko Law Firm, our experienced financial settlement solicitors are here to help you reach a financial settlement that is fair and legally binding. Whether you’re dividing assets, arranging child maintenance, or negotiating a clean break, we provide clear legal advice tailored to your needs. Protect your family’s interests with the help of a family solicitor.

What Is a Financial Settlement?

A financial settlement is the legal agreement between separating couples about how their assets, income, and debts will be divided. This includes:

Ownership of the family home.
Division of savings, pensions, and investments.
Ongoing child maintenance payments.
One-off payments, such as a lump sum.

Without a financial settlement, financial claims may remain open even after a divorce. This means either party could make a financial claim in the future, which is why it’s crucial to formalize any financial agreement through a court-approved financial order.

Why You Need a Financial Settlement

Even if you and your ex-partner have already agreed a financial settlement, it’s important to make it legally binding. Here’s why:

Clarity and Security: A formal agreement prevents future financial claims.
Fair Division of Assets: Ensures that all assets are shared equitably.
Protecting Your Future: A clean break settlement ensures no one can ask for more money later.

If you don’t formalize your financial arrangements, you could face problems down the line, such as claims against your savings, property, or inheritance.

Key Aspects of Financial Settlements

1. Division of Assets

The court considers all assets, including:

The family home.
Pensions and investments.
Business assets.
Savings and debts.

The goal is to divide these assets fairly, taking into account factors such as each person’s financial contributions, the length of the relationship, and the standard of living enjoyed during the marriage.

2. Child Maintenance and Financial Claims

If you have children, their welfare will be the top priority. Child maintenance payments may be agreed upon privately or calculated using government guidelines. The amount depends on factors such as income and the child’s needs.

Spousal support or maintenance may also be included in the agreement, particularly if one partner needs financial assistance to maintain their standard of living.

3. Clean Break Agreements

A clean break settlement ends all financial ties between you and your ex-partner. This type of settlement is ideal if both parties are financially independent and want to avoid future financial claims. However, it may not always be suitable if there are ongoing obligations, such as child maintenance.

4. Financial Disclosure

A fair settlement starts with full financial disclosure from both parties. This means providing details about all your assets, debts, and income. Without this, it’s impossible to reach an agreement that is fair and legally enforceable.

We guide you through the disclosure process to ensure transparency and avoid future disputes.

How a Financial Settlement Solicitor Can Help

Our financial settlement solicitors provide expert support at every stage, including:

1. Reaching a Financial Settlement

If you and your ex-partner can agree on how to divide your assets, we can help you formalize the agreement. This involves drafting a financial order and submitting it to the court for approval.

2. Negotiating a Financial Agreement

If you’re struggling to reach an agreement, we offer mediation and negotiation services to help resolve disputes. Our goal is to avoid court proceedings whenever possible, saving you time and stress.

3. Representing You in Court

If an agreement cannot be reached, we can represent you in court proceedings. The court will make decisions based on factors like:

Each party’s financial needs.
Contributions made during the relationship.
The standard of living enjoyed during the marriage.

Common Questions About Financial Settlements

What Happens if We Divorce Without a Financial Settlement?

If you get a divorce without a financial settlement, your financial claims remain open indefinitely. This means your ex-partner could make a claim against you in the future, even years after the divorce is finalized.

Do I Need a Solicitor for a Financial Settlement?

While it’s not legally required to hire a solicitor, having expert legal advice ensures your settlement is fair, legally enforceable, and protects your future. We can help you avoid costly mistakes and unnecessary delays.

How Long Does a Financial Settlement Take?

The timeline depends on how complex your financial situation is and whether you can agree on terms without going to court. In straightforward cases, a financial order can be finalized within a few months.

Why Choose Canko Law Firm?

At Canko Law Firm, we understand that financial settlements can be stressful. Our team provides clear, compassionate, and professional support to help you achieve the best possible outcome. Here’s why clients choose us:

Expert Legal Advice: We help you understand your rights and ensure your interests are protected.
Tailored Solutions: Every case is unique, so we provide personalized advice based on your circumstances.
Efficient Service: We aim to resolve matters quickly and avoid unnecessary court proceedings.

Contact Us Today

If you need help with a financial settlement, contact Canko Law Firm today. Whether you’re dividing the family home, arranging child maintenance, or securing a clean break, we’re here to guide you every step of the way. Our other family law services can be found here.