Financial settlements

Any fair financial settlement depends on both parties giving full and frank financial disclosure. This is usually done through Form E, a detailed financial statement setting out each party's income, property, savings, pensions, liabilities and outgoings, supported by documentary evidence. Both parties are under a duty to disclose their finances honestly and completely, and the court can draw adverse inferences, or later set a settlement aside, where disclosure has been incomplete or misleading. We guide you carefully through preparing your Form E and scrutinise the other party's disclosure to ensure the financial picture is complete before any settlement is agreed.

Pensions are frequently among the largest assets in a marriage, yet they are often overlooked or undervalued in settlement discussions. There are three main ways pensions on divorce can be dealt with: pension sharing, which splits a pension into two separate entitlements; pension offsetting, where one party retains the pension, and the other receives a larger share of other assets; and pension attachment, which is now less common. Valuing and dividing pensions correctly usually requires input from a pensions actuary, and we work with trusted experts to ensure this significant asset is treated properly rather than traded away without full understanding of its value.

Reaching an agreement is only part of the process. To be legally binding, a divorce settlement must be approved by the court as a consent order. Without one, financial claims between former spouses can remain open indefinitely, leaving you exposed to a claim years after the divorce itself is finalised. Our consent order solicitors draft the order precisely so that what you have agreed is what the court approves and ultimately becomes enforceable.

Where appropriate, we will secure a clean break order, which severs all financial ties between you and your former spouse so that neither can make a future claim against the other's income or capital. A clean break is not available or suitable in every case, particularly where ongoing maintenance is needed, but where it can be achieved it offers valuable certainty and a clear line under the financial relationship.

We take the time to understand your circumstances, your priorities and what a good outcome looks like for you and your family. Wherever possible we resolve matters constructively, through negotiation or mediation, to keep cost and conflict down. Where court proceedings are necessary, we prepare thoroughly and represent you with clarity and resolve.

• Clear advice on the likely range of outcomes from the outset;

• Careful handling of disclosure and financial analysis, including expert input on pensions and business valuations where needed;

• A constructive, settlement-first approach, with robust representation in court where required;

• Fixed-fee options for defined pieces of work such as drafting a consent order, where appropriate; and

• Advice across our Manchester and London Finchley offices.