If your marriage breaks down, you may find you need financial provision (or financial relief). Our expert family law specialists are here to provide well-informed advice to help you and your partner come to a mutual decision about your family’s financial future.
What are financial claims?
Financial provision is where one partner applies for financial support on the breakdown of a marriage or where both parties seek financial severance. This will include dividing a couple’s income, property, assets and other finances. It’s important to note that one of you must have already submitted a divorce petition before you can apply for financial provision through a court. However financial claims can also be addressed outside of a court process also where both parties cooperate.
Financial claims can take months to resolve, so you can go to the court and apply for ‘maintenance pending suit.’ This is where regular payments are made to you so you can cover things like your mortgage, rent, bills and food.
You may have to attend a Mediation Information and Assessment Meeting (MIAM) to see whether mediation itself can resolve your claim. If mediation is deemed unsuitable for your situation, then it’s time for you to apply to court. You’ll receive a Notice of First Appointment which includes instructions that both you and your partner should follow, along with key dates for your case. You’ll also both need to fill out a form stating your income, savings, debts, expenditure, pensions and properties. If both parties have no further questions, the case will move onto a Financial Dispute Resolution (FDR) – a lot of cases are resolved at the FDR appointment. If not, then the court will set a Final Hearing where the judge will make a decision.
Financial claims after a divorce
If your marriage breaks down, the last thing you want is added stress in your life. When it comes to family finances, our expert family law specialists are here to provide well-informed advice. It’s very difficult to predict the outcome of a court case, so we recommend, if possible, coming to an agreement before taking your financial claims to court. We pride ourselves on an empathetic, logical and professional approach to financial claims – that’s why so many of our clients have come to an agreement before taking it to court.
Financial claims and children
Relationship breakdowns culminating in a separation are never easy and seldom straightforward – especially for children. That’s why we prioritise financial provision for children of a divorce. There are a lot of options available for your family and we’re here to discuss them all with you to find a suitable solution for you.
When it comes to children, the court can impose:
- Additional child maintenance for the payment of schools, nurseries, nannies and even university in some cases
- Transfer or settlement or property so your child has somewhere to live until they leave secondary school – by which point the property will be returned to the parent who contributed it
- A cash lump sum for needs directly affecting your child, such as a car, furniture and home maintenance
How can 174 Law help?
If the prospect of going to court to settle your financial claims is daunting then it doesn’t have to be that way. Our specialists are able to settle the majority of cases before they reach the court stage. All you have to do is cooperate by disclosing your finances so we have everything we need to solve your claim as soon as possible. Through a combination of collaborative law and mediation, our highly trained specialists will help you come to a long-term agreement that’s beneficial for everyone involved.
What if we can’t come to an agreement?
If it’s not possible for you and your partner to come to an agreement with regards to financial claims, then you may need to apply to court. We provide ongoing support and advice for couples considering a court application – so you can ensure you get an outcome that works for years to come.