Assessing your position
We review the assets, income and pensions on both sides and explain how the section 25 factors are likely to apply to you.
Family LawMoney and Financial Settlements
Money and Financial Settlements
RakLAW Solicitors advises people across Southwark and London on money and property when a marriage or civil partnership ends. We help you understand a fair outcome, reach agreement where possible and put it into a binding court order.
Where agreement is not possible, we present your case in financial remedy proceedings.
Money and Property When a Relationship Ends
When a marriage or civil partnership ends in England and Wales, the court can divide pensions, property, savings and investments and order maintenance for a former partner or for children. These claims are separate from the divorce or dissolution itself and do not end when the final order is made.
Many couples reach agreement, but it only becomes binding once a judge approves it as a consent order. If you cannot agree, either of you can ask the court for a financial order, normally after a mediation information and assessment meeting.
The court decides what is fair under section 25 of the Matrimonial Causes Act 1973 (for civil partners, the matching provisions in Schedule 5 to the Civil Partnership Act 2004), with first consideration to the welfare of any child of the family under 18. Couples who were never married or in a civil partnership are covered on our pages for unmarried couples.
Which Service Do You Need?
Financial Settlement on Divorce
The overall division of the home, savings, pensions and income when a marriage or civil partnership ends, agreed between you or decided by the court under the section 25 factors.
View Financial Settlement AdviceConsent Orders
Turns your agreement into a binding court order, which the court cannot approve before the conditional order and approves only if fair.
View Consent Order AdviceClean Break Orders
Ends the financial claims between former spouses or civil partners so that neither can return to court later. The court must consider a clean break whenever it makes a financial order.
View Clean Break AdviceFinancial Remedy Proceedings
The court route when agreement is not possible: Form A, Form E disclosure, a first appointment, a financial dispute resolution appointment and, if needed, a final hearing.
View Financial Remedy AdviceSpousal Maintenance
Regular payments from one former partner to the other for a limited period or longer. The court sets the amount and term, and payments end on the recipient's remarriage or new civil partnership.
View Spousal Maintenance AdviceFinancial Settlement Route Finder
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Understanding Financial Settlements
When the court decides, or checks whether an agreed order is fair, it applies section 25 of the Matrimonial Causes Act 1973. First consideration is given to the welfare of any child of the family under 18. The court then looks at:
- each party's income, earning capacity, property and financial resources
- each party's financial needs, obligations and responsibilities
- the standard of living before the breakdown
- your ages and how long the marriage or partnership lasted
- any physical or mental disability
- contributions, including caring for the home and family
- conduct, where it would be unfair to disregard it
- any benefit, such as a pension, that a party will lose the chance of acquiring because of the divorce
The court must also consider a clean break, so that the financial obligations between you end as soon as is just and reasonable, and whether any maintenance should run only for the period needed to adjust without undue hardship.
Arrangements for where children live are dealt with separately on our children matters pages. If you have or want a prenuptial or postnuptial agreement, see our nuptial agreement pages.
Evidence and Common Issues
Every settlement rests on disclosure. In court each of you exchanges a financial statement in Form E, verified by a statement of truth, at least 35 days before the first appointment. For a consent order, each completes a statement of information in Form D81 so the judge can see whether the terms are fair. The duty of full and honest disclosure continues throughout and covers any material change.
Common problems include applying for the consent order after the final order, which can have financial consequences, particularly for pensions; remarrying before applying, which bars the remarried party from applying for a financial provision or property adjustment order; and the timing of asset transfers, which can affect capital gains tax. An order obtained by fraud or material non-disclosure can be set aside, but a mere allegation is not enough: it must be established or admitted.
When Legal Advice Is Especially Important
Legal advice matters most when:
- one of you wants to keep the family home
- there are pensions of significant value
- one of you owns or has an interest in a business
- assets are held abroad or the divorce took place overseas: see our financial claims after an overseas divorce page
- you suspect hidden assets or money being moved
- there has been domestic abuse, which can exempt you from the mediation meeting: see our domestic abuse and injunctions pages
- an existing order is not being complied with, or circumstances have changed
- you were never married and need provision for a child
If your permission to stay in the UK depends on your partner, the separation may also have immigration consequences, covered on our family immigration pages.
How the Financial Settlement Process Works
Most cases follow these stages.
- 01 Early advice and disclosure
We identify the assets, income, pensions and debts on both sides and exchange financial information with the other party.
- 02 Non-court options
Before applying to court you normally attend a mediation information and assessment meeting, unless exempt, for example after domestic abuse. Mediation, negotiation, arbitration and a private FDR can all settle matters.
- 03 Negotiating and recording the agreement
We advise on a fair outcome against the section 25 factors, negotiate the terms and draft the consent order and statement of information for the court to approve once the conditional order is made.
- 04 Applying to the court
If agreement is not possible we issue Form A, then both sides exchange Form E and file a statement of issues, chronology and questionnaire before the first appointment.
- 05 First appointment, FDR and final hearing
The judge gives directions and refers the case to a financial dispute resolution appointment, a without prejudice negotiation hearing. The FDR judge takes no further part; if it does not settle, a final hearing follows.
- 06 Implementing and enforcing the order
We deal with transfers, pension sharing and payment timetables, and enforce the order if the other party does not comply.
How Our Financial Settlement Solicitors Can Help
Negotiation and settlement
We negotiate with the other party or their solicitor and support you through mediation, arbitration or a private FDR.
Consent and clean break orders
We draft the consent order and statement of information, answer the court's questions and include the clean break and pension terms you need.
Court representation
We issue Form A, prepare your Form E and questionnaire, and represent you at the first appointment, the FDR and any final hearing.
Protecting and enforcing
We act quickly where assets are at risk, respond to non-disclosure and apply to enforce or vary an order when needed.
Why Choose RakLAW Solicitors?
Regulated and accountable
Authorised and regulated by the Solicitors Regulation Authority, SRA number 8007405.
A free first conversation
A free 15-minute consultation lets you outline your situation and hear which route is likely to suit you.
Close to Tower Bridge
Our office at 42 Shad Thames is near Tower Hill, London Bridge and Bermondsey stations.
Clear about costs
Our fees for family law work page sets out how we charge.
The whole picture
Divorce, children, domestic abuse and immigration issues often overlap with the finances, and we advise on all of them in one firm.
Money and Financial Settlements FAQs
Does the final divorce order end our financial claims?
No. Financial claims stay open until a court order deals with them or dismisses them. One trap: a party who remarries or forms a new civil partnership can no longer apply for a financial provision or property adjustment order.
Do we need a consent order if we have agreed everything?
Yes, if you want it to be legally binding. A judge approves a consent order if they think it is fair and can ask you to change it. Without an order, either of you could claim later.
Do I have to go to mediation before applying to court?
You normally attend a mediation information and assessment meeting, known as a MIAM, first, but you do not have to mediate. Exemptions include domestic abuse, urgency and a MIAM within the last four months.
How does the court decide what is fair?
It applies the section 25 factors: resources, needs, standard of living, ages and length of the marriage, disability, contributions, conduct where unfair to ignore and lost benefits. The welfare of any child under 18 comes first.
Is everything split equally on divorce?
The Act sets no fixed share. The court weighs the section 25 factors and the needs of each party and the children, so the outcome depends on your facts. Our blog on how finances are split in divorce explains more.
How are pensions dealt with on divorce?
Pensions, including shareable state pension rights, are among the assets the court can divide. A pension sharing order transfers a percentage of one pension to the other party, but cannot take effect until the final order is made.
Can spousal maintenance be changed later?
Yes. The court can vary or discharge a maintenance order when circumstances change, such as a job loss or a large rise in income. Maintenance ends on the receiving party's remarriage or new civil partnership.
Who deals with child maintenance, the court or the CMS?
Usually the parents or the Child Maintenance Service, which works out the amount, arranges payments and acts if a parent does not pay. Where the CMS has jurisdiction, the court can only order it in defined cases: agreed orders, top-ups above the CMS maximum, education costs and a disabled child's expenses.
What if my spouse hides assets or moves money?
Both of you owe a continuing duty of full and honest disclosure. The court can restrain or set aside a disposal meant to defeat your claim. Where a disposal in the previous three years would have that effect, the intention is presumed unless the contrary is shown. Urgent cases may need a freezing injunction.
How do I enforce a financial order my ex is ignoring?
You apply to the family court with a statement of the amount due and can ask for a specific method or leave the court to choose. Methods include attachment of earnings, third party debt orders, charging orders and a judgment summons.
What are the court fees for a financial order?
HM Courts and Tribunals Service publishes the current fees for a financial order application and a consent order in form EX50, and Help with Fees may reduce them if you have a low income or limited savings. Our own charges are on our family law pricing page.
Can I claim for our child if we were never married?
Yes. Under Schedule 1 to the Children Act 1989 a parent, guardian, special guardian or a person the child lives with under a child arrangements order can apply for periodical payments, a lump sum or a property settlement for the child.
Related Family Law Services
Speak to a Financial Settlement Solicitor
Whether you have agreed terms or face a dispute, an early conversation helps you understand your position. Book a free 15-minute consultation at our office near Tower Bridge.
Request a call back and tell us briefly what you need advice on.