Matrimonial Finances – Dividing the Matrimonial Pot

In an application for Divorce, the Final Order will determine the end of the marriage.

It will not of course end the financial ties between former spouses. A Financial Remedy Order is required, preferably by agreement of the parties or, if necessary, the Court will make an order as to the division of your hard- earned cash, property and pensions.

At Browell Smith and Co Solicitors, we advise and assist our Clients in negotiating financial settlement and, where it is possible to do so, keep matters out of court by agreeing a division of the assets and incorporating that into a Financial Remedy Order to be approved by a District Judge.

Simply reaching an agreement does not mean an Order will be approved by the Court in those terms.

Each and every case is determined on its own specific facts and circumstances.

The starting point in respect of a division of matrimonial assets is to ascertain “what is in the pot”.

Once all matrimonial assets are quantified then the first exercise is to determine what would be a fair division of that pot having specific regard to the Section 25 factors as set out in the Matrimonial Causes Act 1973.

The needs of any children are of course paramount.

Thereafter the needs of the parties both now and in the future must be considered.

It is of course preferable where possible for there to be a clean break as to income, capital and upon death. This enables parties to be in a position to move on with their lives.

Negotiating and Drafting Financial Agreements

The Family Law Team at Browell Smith and Co are here to assist you throughout divorce proceedings to include negotiating and drafting financial agreements and representation at Court, should agreement not be reached. We strongly recommend obtaining legal advice at the outset of matters. If you require advice and assistance, no matter what stage of proceedings you are in, then please do not hesitate to contact the Team.