Opting for an out-of-court settlement
Most couples opt for an out-of-court divorce financial settlement, as this is often quicker, less stressful and more cost effective than going through litigation in court. This type of agreement usually involves discussing and negotiating the terms with one’s spouse before soliciting legal advice from two separate lawyers. Our team of highly experienced lawyers at Astraea Linskills can help guide you through this process. Having a lawyer on your side is vital to ensure that you are making informed decisions about your divorce financial settlement. Your lawyers will then ensure that your out-of-court settlement is drawn up into a court order which, once approved by the Court, will become binding upon you both. This is crucial to protect you from future claims.
Key points to consider in a Divorce related Financial Settlement;
When it comes to divorce related financial settlements, there are various issues which must be taken into consideration:
- Property division: This includes anything that both spouses owned before separation, such as the family home, cars and any investments.
- Debt allocation: Who will be responsible for paying off debts accumulated during the marriage?
- Spousal maintenance payments: Depending on the circumstances, one spouse may need to provide financial assistance to the other following divorce.
Child maintenance payments: If children are involved, financial arrangements may sometimes be made to cover their educational and other needs, as part of the divorce.
Please seek advice from one of our friendly team.
Regarding divorce related financial settlements, it is essential to remember that each situation is unique, and there is no ‘one size fits all’ solution. It is wise to seek professional legal advice before making any decisions. At Astraea Linskills, our experts are more than happy to help. An experienced divorce lawyer can provide guidance and help ensure that you are making informed decisions about your divorce related financial settlement to protect your rights and secure a fair and reasonable outcome.
Divorce is never easy, but with the right advice and support, it is possible to come out of this challenging process with a divorce related financial settlement that meets everyone’s needs.