Financial settlements

Most divorcing couples agree a financial settlement, between themselves or with the help of solicitors or mediators. The financial settlement will however still have to be ratified by the court and become an order of the court to make it binding. This means that it is necessary to obtain a “Financial Consent Order” reflecting the settlement.

Statement of Information

The procedure involves preparing a ‘Statement of Information’. This includes various details including information such as ages, the length of the marriage and respective financial positions in terms of income, property, savings and pension assets.

The Statement of Information is completed by us and then signed by you and your spouse.

Financial Consent Order

We draft the Financial Consent Order which sets out the agreement that has been reached and this is first sent to your spouse’s solicitors for their approval. 

Once the format of the financial consent order is agreed, it is signed by both parties and their solicitors and is sent to the court.

Provided the court is satisfied that the Financial Consent Order is appropriate in the light of the Statement of Information, then the order will be made by the Court.

However, you must not apply for a Financial Consent Order without a solicitor drawing it up or advising you that it is fair. We would only advise you to consent to a Financial Consent Order if we consider that the provisions are appropriate and that your spouse has disclosed adequate financial information and documents.