Separated couples who agree out of court settlements will not only save themselves money, but also precious time and energy which can be devoured by long and acrimonious court battles.
Divorcing couples are encouraged to negotiate a settlement and then obtain an Order of the Court to formalise their agreement.
Taking a sensible and pragmatic approach isn’t a sign of weakness – just the opposite. Negotiating your own terms, whether financial or relating to the care of your children, delivers significant advantages.
Provided an agreement can be reached there is no need to attend a court hearing and both parties may save large sums of money – often amounting to thousands of pounds each. Reaching a settlement also ensures that the parties can be certain as to the outcome of their case. If the parties cannot reach an agreement then the court will be required to decide how the couple’s assets must be divided and this can produce an unexpected outcome.
Care always needs to be taken, however, that any settlement is agreed with both sides having full knowledge of all background information, including details of the other spouse’s finances. Divorcing couples must disclose to each other all of their financial circumstances in order that their solicitors may advise them fully as to the merits of a settlement agreement.
If a separating couple is able to reach an agreement then it is essential that this agreement is recorded within a Consent Order to ensure that the agreement reached is binding on both parties. Separating couples should seek independent legal advice from a specialist family lawyer to ensure that any agreement reached is appropriate in their circumstances and to have their agreement recorded within a Consent Order.
If you would like to discuss this or any other family law matter, please contact Janine Hutson on 01772 258321, or at janine.hutson@harrison-drury.com
Questions & Answers