Resolving financial arrangements

Why would someone need this service?

Often on separation a couple whether married, in a civil partnership or simply living together, will disagree on how their assets should be divided. Grant Saw is able to offer excellent advice, right from the beginning, about what each person would be entitled to claim.

If the parties cannot reach agreement between themselves Grant Saw’s lawyers are experienced in putting forward our client’s case in advantageous terms concerning their financial entitlement. This can be done, for instance, by advising clients at meetings, assisting clients who are currently involved in the mediation process or alternatively acting for clients during the course of court proceedings.

How does the process work?

To start the process, the parties are encouraged to (and if necessary required to) exchange full information about each other’s financial position and views. There will often then be some negotiation between the parties in an attempt to reach a mutual agreement. If this is achieved, the agreement will be submitted to court and a court order confirming such terms will be provided by the court. If settlement terms can be agreed between the parties, the obvious advantages to be achieved would be, for example, the fact that the parties would not actually have to appear in court or incur the expense, stress or conflict such an event might cause.

It may be the case, however, that the separating parties cannot reach agreement between themselves and in such event, the parties will need to seek assistance from the court to make any progress. If court proceedings are necessary, they are likely to involve up to three court hearings prior to a final order being provided by the court. This can take between 12 to 15 months to conclude. However, if the parties reach an agreement at any stage during the court process, they can have that agreement approved by the court (which will be an enforceable court order) and therefore avoid further expense.

How long does it take?

The timeframe will depend upon the ability of the parties to reach an agreement at an early stage. If agreement between the parties is reached promptly, a court order can usually be obtained by filing agreed papers and within a month or two, the matter should be concluded.

If court proceedings are required it is likely to take between 12 to 15 months for the parties to reach the final hearing.

Is it expensive? How do the costings work?

Your first consultation with us will be for a fixed fee of £100 + VAT for a face-to-face consultation of up to one hour. When we have established the level of service that is required based on your personal circumstances, we will provide you with a estimate for our acting for you from that point onwards.

What should people consider before calling?

It will be helpful for you to provide your lawyer with details of your assets, pension, income and any other relevant financial information and also that of your partner at the outset. Your lawyer will need to be aware of the issues on both sides before advising you. Once your lawyer is informed of this, you can be better advised, saving you both time and money due to the reduction in your lawyer's time to be incurred in preparing paperwork on finances.

Why are Grant Saw the best people for the job?

At Grant Saw we have specialist lawyers in this area. Our clients can rest assured they will receive the best advice possible from experienced legal professionals.

Resolving financial arrangements tips

It is a good idea to try to agree valuations of properties or high value personal property in order to avoid having to pay valuer's fees, which can be expensive. The earlier this is done, the better as firm figures can then be brought into any discussion about settlement terms.

Resolving financial arrangements myth busting

What myths surround this area?

Many still believe that unmarried couples that are co-habiting obtain rights against each other's financial assets by living together. However, this is not the case and there is no such thing as “common law marriage”.