Financial Provision
At Descartes Solicitors, our experienced Family Law Team provides expert legal advice on financial arrangements following the breakdown of a marriage or civil partnership.
We understand that resolving financial matters can be complex and emotionally demanding. Our team is here to guide you through the process with sensitivity, clarity, and professionalism, helping you reach a fair outcome that protects your interests and supports your future stability.
For immediate help and assistance, please call 020 8995 3556. We are available to help you in person, by telephone, or online.
What Is an Application for a Financial Order?
A financial order is a formal legal application made when separating couples are unable to reach an agreement about financial matters during or after divorce or the dissolution of a civil partnership.
You can apply for a financial order if you cannot agree on how property should be divided, whether it should be sold, or if there is a dispute over maintenance payments. The court can make decisions about how finances and assets should be distributed when a voluntary agreement is not possible.
The Court Procedure
Once your application has been submitted, the court will list a hearing known as the First Appointment. Before this hearing takes place, both parties are required to exchange financial information using a detailed form known as Form E. This provides the court and both parties with a full picture of each person’s financial circumstances, including income, savings, pensions, business interests, and other assets.
Our Family Law Team will guide you through this process, explaining what documentation is required and ensuring that all necessary information is prepared accurately.
During the course of proceedings, we will engage in negotiations with the other party to try to reach an agreement wherever possible. If an agreement is reached, we will ask the court to make it legally binding.
If no settlement is achieved, the court will arrange a further hearing and may direct either party to provide additional information, missing documentation, or asset valuations. Expert reports may also be needed, for example on tax or business valuations.
The case will continue until the court has sufficient information to make a fair and informed decision. In practice, most people reach an agreement before a final hearing, often with the assistance of legal professionals.
Who Pays the Legal Costs?
In financial proceedings, the general position is that each person is responsible for their own legal costs. Although the court has discretion to make a costs order, this is uncommon. The main focus of financial proceedings is on achieving a fair settlement rather than recovering costs from the other party. Our Family Law Team will keep you fully informed about costs and progress at each stage of your case.
What Will the Court Consider When Making Its Decision?
The court’s principal aim is fairness and the welfare of any children involved. In determining how matrimonial assets and income should be divided, the court will consider a range of factors. These include the welfare of any children, the income and earning capacity of each party, and the property and financial resources available to them both now and in the future.
The court also takes into account each person’s financial needs, obligations, and responsibilities, as well as the standard of living enjoyed during the marriage. The age of each party, the duration of the marriage, and any health issues will be relevant, along with contributions made to the family, whether financial or through caring for children and maintaining the home.
The court may also consider the conduct of either party if it would be unjust to ignore it and the potential loss of any future financial benefits as a result of the divorce. While the starting point for dividing assets is often an equal split, the court may adjust this if one party needs more to meet housing or childcare needs, or if there is a significant difference in pre-marital assets. Pre-nuptial and post-nuptial agreements may also influence the outcome if they are deemed fair and reasonable.
Types of Financial Orders the Court Can Make
The court has broad powers to make various types of financial orders depending on the circumstances of each case.
It may make a lump sum, property adjustment, or pension sharing order to achieve a fair distribution of assets. This can include dealing with the family home, savings, investments, and pension funds. Regardless of whether a property is owned jointly or by one party, the court ensures that both sides receive an equitable share of the matrimonial assets. Our Family Law Team can assist with all aspects of these applications to ensure your financial interests are fully protected.
The court may also order spousal maintenance, requiring one party to make regular payments to support the other or to assist with the needs of any children. This usually applies where one person has a higher income or where ongoing support is necessary to meet living costs.
If your spouse has obtained a divorce abroad, you may still be able to apply for financial provision in the English courts. This is particularly relevant if your spouse owns property or has assets in the UK. Our Family Law Team can advise you on how to protect your financial position and pursue any claims you may be entitled to make.