Divorce & Finance Dispute Solicitors in London

Why choose OTS Solicitors for your financial settlement?

OTS Solicitors think that those sorting out finances in divorce need and deserve a divorce finance settlement solicitor who:

• Will listen to what you want; if you do not want to go to court or to get a formal valuation of a property or don’t want to pursue financial disclosure, we will listen to you
• Understands the need to carefully review a spouse’s financial disclosure paperwork to look for hidden assets, bank accounts or foreign property
• Will advise you on the complexities and interplay between child support and spousal maintenance and what a ‘clean break’  means as well as ‘reality test’ any financial settlement ideas
• Will take the time to explain your financial settlement options including court orders such as pension sharing orders, lifetime spousal maintenance, capitalisation of spousal maintenance payments and global spousal maintenance orders
• Will not tell you what you must do but instead will explain your financial settlement options. It is rare for there to only be one way to divide property, pensions and other assets when you get divorced. We will explain the pros and cons of your various options and help you make the right decision for you and your family
• Clearly explain the legal costs involved in negotiating a financial settlement or applying to court for a financial court order
• Will make sure that you get all the help you need. For example, help in finding the right forensic accountant, pension actuary, barrister or surveyor or in getting finance advice from an IFA

Financial settlement advice services

At OTS Solicitors our dedicated team of London divorce solicitors knows that unravelling your financial affairs when you divorce can seem overwhelming. It can be intimidating to think that a judge will decide:

• Whether the family home should be sold, and if so, how the proceeds of sale should be split
• Whether spousal maintenance should be paid and for how long
• Whether the family business should be sold or shares in the company be transferred to one spouse
• Whether pensions should be shared and, if so, whether a 50% division of the cash equivalent transfer value of the pensions will result in equality of pension income on retirement for the husband and wife
• The relevance of any family gifts or inheritances received by one spouse during the marriage
• The extent to which the financial settlement should be based on the contents of any prenuptial agreement or postnuptial agreement
• The enforceability of any financial court order. For example, if a spouse lives overseas or holds assets or property abroad

That is why you need divorce and finance solicitors on your side to guide you through your options and ensure that you receive a fair financial settlement.

Frequently Asked Questions on Financial Settlements

What am I entitled to in a divorce settlement?

The starting point for a UK divorce settlement is normally a 50/50 split of the family assets but there may be good reasons why a spouse should get most of the family assets or less than half.

When deciding divorce financial settlements, the court considers a range of statutory factors:

• The needs of any dependent children
• The age of the husband and wife
• The length of the marriage
• The husband and wife’s current and future earning capacity and whether it would be reasonable to expect that they could earn more
• Contributions made during the marriage. Financial contributions are given the same weight as the contributions of a homemaker
• The standard of living enjoyed during the marriage
• The property and assets available to split. This will include the equity in the family home, savings, the value of the family business or pensions

It is difficult to talk of entitlements when the financial agreement for divorce will depend on a range of factors and your individual and family circumstances.

Our divorce and finance solicitors will consider likely financial settlements with you to help you reach a negotiated settlement through solicitor negotiations or family mediation or strongly argue your case in financial settlement court proceedings or arbitration.

What is the usual financial split in a divorce?

There is no usual financial split in a divorce as the finances or personal circumstances of couples are never the same. Our financial solicitors focus on you and your needs rather than trying to impose a ‘usual financial split’ to your circumstances. That approach means we focus on listening to you and your goals and needs and by asking:

1. What are the family assets and the non-family assets? Have all the assets been disclosed? Have assets been properly valued, such as shares in a family business
2. What are your reasonable needs? What does your spouse need?
3. What do you want? Is that reasonable when assessing what you want against what you need? Are you likely to achieve what you want through solicitor negotiations or in financial court proceedings?
4. Do your wants or your spouse’s proposals withstand reality testing? For example, if your spouse is saying you can have half their pension and half the equity in the house that may mean you get less pension income than them in retirement because of your age and gender or you cannot rehouse yourself because of your mortgage capacity

Our care and attention to detail help ensure that your financial settlement is fair and meets your needs rather than adopting a standard one size fits all approach to your financial future.

How to manage finances when getting divorced?

Managing your finances when you get divorced can be stressful as you are splitting your income and assets in two and need to fund two houses and outgoings from assets and income that used to provide one home. Our divorce finance solicitors will guide and support you with sorting out interim financial arrangements and securing a financial court order that meets your long term financial needs.

How long does a financial settlement take?

It usually takes months to negotiate a financial settlement because it is vital to get assets valued during negotiations and get finance advice and take time to weigh up your options and work out what is best for you and your family. Once you have reached a financial agreement, we can ensure it is converted into a binding financial court order to give you peace of mind.

In a complex divorce settlement, it can take longer for the court to make a financial court order. Our divorce financial settlement solicitors have substantial experience in financial settlement court applications where one spouse will not cooperate or there are legal arguments over the relevance of assets, such as trust funds, or disputes over how a family business should be valued in the financial proceedings. We take a calm and assured approach to get you the financial settlement you need.

Get in touch with us today to see how our divorce finance dispute solicitors can help you.

To discuss your divorce and finances talk to us at our offices, over the phone or online via Web Conferencing such as Zoom or Skype. To get the expert legal advice you need, contact our divorce financial settlement solicitors in London.