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ukfamilysolicitor
ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 1097
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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Is there a financial agreement between two married people without

Customer Question

Is there a financial agreement between two married people without kids that can be arranged should the couple divorce?
Submitted: 2 years ago.
Category: Law
Expert:  ukfamilysolicitor replied 2 years ago.
Hello
Welcome to Just Answer
Thank you for your question.
In relation to the matrimonial finances - The correct process for dealing with the matrimonial finances and division is to go through a process known as full and frank financial disclosure. Yourself and your spouse need to exchange full details of all assets ( including pensions) and liabilities before negotiations take place in relation to settlement. Everything is included in disclosure.
The normal rule for division is 50/50 however the matrimonial causes act sets out factors which could lead to a departure from this rule. A few examples are the likely earning capacity of both of you for the future, health needs etc
You should consider making a referral to a specialist mediation service. They can assist in relation to the process of disclosure and also in relation to negotiations about division. One such mediation service is the National Family Mediation service. www.nfm.org.uk
If agreement cannot be reached then an application would need to be made to the court. You can not make an application to the court until you have at least attempted mediation first.
It is very important that no division of any assets takes place until a court order is obtained.
If division is agreed without the need to apply to court then you should submit a consent order for Judicial approval prior to division and obtaining decree absolute. Not doing so could leave you open for a future claim. A Solicitor can help you draft the Consent Order to protect your position for the future.
Kind Regards
Caroline
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Customer: replied 2 years ago.
We aren't getting divorced but I would like to separate our finances in the case that we do divorce
We can do this by mediation and it will be legally binding in the case of a future divorce?
Expert:  ukfamilysolicitor replied 2 years ago.
Hello
You can agree a Separation Agreement through mediation if you don't want to get divorced.
Although Judges aren't legally bound to follow such agreement in later divorce proceedings - more often than not they will if the correct process has been followed of full and frank disclosure and the Judge considers the agreement is fair.
Kind Regards
Caroline
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Customer: replied 2 years ago.
Many thanks Caroline
Expert:  ukfamilysolicitor replied 2 years ago.
Your very welcome
Kind Regards