When a marriage or civil partnership breaks down, deciding how to divide finances, assets, and property can be one of the most stressful and emotionally challenging aspects of the process.
A financial settlement is a legally binding agreement that sets out how you and your ex-partner will divide your assets, property, savings, investments, pensions, and debts after a divorce or dissolution.
It can cover:
- Division of matrimonial property (the family home, vehicles, savings, etc.)
- Maintenance payments (spousal or child maintenance)
- Pension sharing or offsetting
- Business interests and inherited wealth
- Debts and liabilities
Reaching a fair settlement ensures both parties’ financial needs are met and prevents future disputes.
At ICONIQ Solicitors, our experienced family law solicitors specialise in financial settlements following divorce or separation. We provide clear advice, protect your interests, and work to achieve a fair and lasting financial outcome that allows you to move forward with confidence.
Why Need a Financial Settlement
Without a formal financial settlement, either party can make future financial claims even years after divorce.
A court-approved settlement (Consent Order) gives you legal closure and protects your future assets and income.
Types of Financial Settlements
Type | Description |
Agreed Settlement (Consent Order) | You and your ex-partner agree on the division of assets, and the court makes it legally binding. |
Mediated Settlement | A neutral mediator helps both parties reach a fair agreement outside court. |
Court-Decided Settlement | If you can’t agree, the court decides how assets will be divided after reviewing financial evidence. |
Clean Break Order | Ends all future financial ties, ensuring neither party can make claims later. |
What’s Included
A financial settlement typically includes:
- Family Home – deciding whether to sell, transfer ownership, or buy out the other’s share.
- Savings & Investments – including ISAs, shares, and bonds.
- Pensions – pension sharing or offsetting to ensure fairness.
- Debts & Liabilities – deciding how outstanding debts will be divided.
- Spousal Maintenance – payments to support a lower-earning spouse.
- Child Maintenance – to support children under 18 (in addition to or instead of the Child Maintenance Service).
Court Decides on a Fair Settlement
When deciding on a fair financial outcome, the court considers factors under Section 25 of the Matrimonial Causes Act 1973, including:
- The income, earning capacity, and financial needs of both parties.
- The standard of living enjoyed during the marriage.
- The length of the marriage and the age of each party.
- Contributions made (financial and non-financial, e.g., homemaking or childcare).
- The welfare of any children of the marriage.
Every case is different, and our solicitors tailor their advice to your unique circumstances.
How We Can Help
At ICONIQ Solicitors, we offer expert advice at every stage of your financial settlement, including:
- Assessing your financial position and identifying matrimonial assets.
- Negotiating settlements through correspondence, mediation, or collaborative law.
- Applying for court orders where necessary.
- Drafting and submitting consent orders for court approval.
- Advising on clean break settlements to protect your future finances.
We always aim for amicable resolutions, but will represent you robustly in court if required.