Family and Relationships

Financial Settlement

In matters of family and separation, our seasoned legal experts offer comprehensive financial guidance. We understand the intricacies of dividing assets and liabilities, ensuring a fair and equitable settlement. With strategic insights and meticulous attention, we empower you to make informed financial decisions during these challenging times.

T.G. Collins Solicitors

Securing Your Finances, One Settlement at a Time.

Our experienced law firm specializes in achieving equitable financial settlements for our clients. Through meticulous analysis and negotiation, we ensure that your financial interests are protected. Our dedicated team of legal experts navigates complex financial landscapes, aiming for swift and fair resolutions. 

We understand the importance of securing your financial future, and we work tirelessly to achieve optimal outcomes tailored to your unique circumstances. Trust us to handle your financial settlement with the utmost professionalism and commitment, allowing you to move forward confidently. Your financial well-being is our priority, and we’re here to secure the best settlement on your behalf.

Checkout what our clients say about their experience

finance

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Financial Remedy

Overview

Court proceedings for financial settlement should be a last resort for most couples. Discussions, mediation and arbitration are usually best explored before engaging in the
formal court process.

The cost of a matter that goes to a final hearing can be prohibitive, sometimes outweighing the value of the assets in question, much to the court’s expressed dismay. It is not unusual for the time frame up to and including the final hearing of a matter to be 12 to 18 months from filing the initial application. When dealing with complex finances, it can be significantly longer.

It is usually in the client’s interest to avoid commencing proceedings which can irretrievably damage ongoing relationships, particularly where there are children. In most cases, settling the matter outside of court saves the client stress, delay, and costs. Some cases need the backbone that formal proceedings bring, whether due to an errant opponent disposing of assets, the drift of time, or a lack of voluntary engagement in discussions.

The alternatives of mediation, negotiation, and compromise are a matter of the practitioner judgment and advice. If parties solve their issues without court proceedings, practitioners can document the agreement in a draft consent order submitted to the court for approval. If divorce or dissolution is not taking place at the same time as the financial settlement then recording any agreement in a separation agreement might be appropriate.

However, these are not 100% binding and there is a risk of duplicating costs between a separation agreement and a later consent order within divorce proceedings. Informally agreeing to or implementing a financial settlement without a consent order carries risk as only a court-approved consent order is binding.

If the matter does go to court because of complex business interests, hotly disputed contributions to a very large asset pool or the intransigence of one party, it is crucial that the practitioner carefully considers all documentation and statements the client files with the court before they are submitted. At the appropriate point in the proceedings, concise witness statements and a clear understanding by the practitioner of the issues genuinely in dispute will reduce the length of the hearings and be appreciated by the court, with consequential costs savings. The courts are ever keen to penalize the party who does not negotiate reasonably or comply with its directions.

The court ability to hear a financial claim depends on whether it has jurisdiction to hear a petition for divorce, dissolution, nullity or judicial separation. Jurisdictional issues for financial remedy matters may arise where the divorce or dissolution has been dealt with outside England and Wales, and when assets or the parties are located in several different jurisdictions.

Many cohabiting couples believe there is such a thing as a common-law spouse, but this is a fallacy.

Mediation

Before making an application for a financial order, the court requires the client to attend a Mediation, Information and Assessment Meeting (MIAM). This may not result in mediation as the case may not be suitable.

The requirement to attend does not apply:

Once mediation has been completed or an exemption approved, the mediator supplies a certificate. An application for a financial order can then be submitted, accompanied by the certificate, following the standard procedure or the fast-track procedure detailed below.

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The steps involved

Where negotiations and mediation have failed, a court application is made, usually on Form A Notice of (Intention to Proceed With) an Application for a Financial Order or Other Financial Remedy. The application is most commonly made online, following which the court issues it to the parties and sets out a timetable:

There are two other main types of hearing in the overall process: the financial dispute remedy hearing and the final hearing. There can be more than one attempt at the first two, and interim directions appointments may also be required.

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Consent orders

Nuptial, civil partnership or separation agreements cannot oust the jurisdiction of the court whereas consent orders are made with the approval of the court. 

The court does not automatically approve consent orders simply because parties have reached an agreement. The court decides whether the proposed orders are a just and fair outcome, considering the factors set out in s25 of the Matrimonial Causes Act 1973 and Schedule 5, Part 5 of the Civil Partnership Act 2004.


The court can make consent orders without the parties or legal representatives appearing, provided the necessary information has been submitted with the application.

What Our Client's
Say And Think

jay sandhu
jay sandhu
2024-06-29
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Good communication and reliable
Zazi D
Zazi D
2024-06-12
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We recently had our Will updated and Taylor was excellent. Very prompt in responding/carrying out the work, diligent and did a great job of explaining the changes. Would highly recommend the law firm and Taylor.
Rachel Organ
Rachel Organ
2024-06-07
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Superb conveyancing experience - Nitu made it so easy from start to finish despite my property sale being fraught with issues outside of my control. I would not hesitate to recommend TG Collins and Nitu in particular.
Jemma
Jemma
2024-06-06
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I used TG Collins for a property sale. The solicitor I dealt with (Nitu) was very helpful and was always to hand to answer my questions. If the solicitor I was dealing with was not available there was always someone who could answer my questions. TG Collins have made selling a property a stress free experience. I would highly recommend TG Collins Solicitors.
Stephen Hill
Stephen Hill
2024-05-22
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TG Collins handled the Sale of my property recently and were one of the best firms of Solicitors I have ever dealt with, and I have instructed quite a few over the years. I am particularly impressed with Nitu, who kept me fully informed throughout. She always took my calls and quickly replied to my emails. She is a real credit to the firm. I highly recommend TG Collins.
Jane Wardle
Jane Wardle
2024-05-21
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Cannot fault the services of TG Collins for conveyancing and particularly Daisy. She kept us updated at every stage and was always available on the phone. We found ourselves in a very unfortunate situation during our house sale and she was very kind and helped us get through to the other side. Charges very reasonable. Cannot recommend TG Collins and Daisy highly enough. Efficient, professional conveyancing at an affordable price. Top marks *****
Simon Kretzschmar
Simon Kretzschmar
2024-05-07
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Thank you so much Thushara and the team for an insightful, client focussed and supportive service. I will definitely be returning for future work and can highly recommend them.
Helen Scarlett
Helen Scarlett
2024-05-04
Trustindex verifies that the original source of the review is Google.
I used this company for making a will. They made it very easy, were professional and had great communication. I would absolutely recommend them.
Abdullah Davis
Abdullah Davis
2024-04-25
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Very helpful and polite and explain everything as it goes along
Jo Skingle
Jo Skingle
2024-04-19
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I would highly recommend the services of the Family Department at T.G.Collins solicitors. From beginning to end the process was made easy by Jigyasa. I was treated with respect, politeness and professionalism. I would recommend anyone looking to instruct a solicitor to act on their behalf for a smooth, efficient and positive outcome in a divorce settlement. Thushara and her team are amazing. The most difficult and challenging of times were made easier with honest, upfront and precise information to ensure success in my divorce settlement. Thank you to you all. Jo

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