Financial order solicitor in London

What Is a Financial Agreement?

A financial agreement (also known as a financial order or consent order) is a legally binding arrangement that sets out how a couple’s assets and income will be divided after divorce. Until the agreement is formalised by the court, it is not legally binding — even if both parties have informally agreed terms.

What Is Covered in a Financial Settlement?

A financial order settles disputes and fairly divides matrimonial assets, which can include:

• The family home and any other property, whether owned jointly or individually
• Savings, pensions, and investments
• Household items and vehicles
• Personal possessions
• Business assets and interests
• Debts, loans, and credit card balances

Who Can Apply to Court?

Either spouse or civil partner can apply to court to resolve financial disputes arising from divorce or the dissolution of a civil partnership. Our family law solicitors can  advise on whether court proceedings are necessary or whether the matter can be resolved through negotiation or mediation first.

What Happens Once the Court Application Is Received?

Once an application is filed, the court sets a timetable for the case, typically including:

• A date and time for the first court appointment (First Directions Appointment)
• A deadline — usually within 35 days of the application — for both parties to file and exchange a completed financial disclosure form (Form E)
• A short statement setting out the disputed financial issues
• A chronology of key events in the marriage and separation
• A questionnaire raising any queries on the other party’s financial disclosure
• Confirmation of whether the first hearing will be used for directions or to try to reach an agreement (a First Appointment/FDR hybrid)

What Is Form E?

Form E is the standard financial disclosure questionnaire used in English and Welsh divorce proceedings. Full and frank disclosure is a legal requirement, and Form E is the most common way to provide it — setting out each party’s income, assets, liabilities, and financial needs in a structured format the court and both sides can review.

What Happens at the First Court Hearing?

At the First Appointment, the court considers whether further information is needed — this may include additional disclosure or missing documentation. The aim is for both parties and the court to have a full picture of each person’s financial position before the next stage, so that meaningful negotiation can take place.

How Can I Prepare for Giving Financial Disclosure?

Start gathering your financial documents early and keep them organised in one file for your solicitor to review. Some documents — particularly pension valuations and life insurance statements — can take several weeks to obtain, so it’s worth requesting these from your provider as soon as proceedings begin.

Why Is Financial Disclosure Necessary?

Both spouses need full visibility of each other’s financial position before agreeing how assets should be divided. Complete and honest disclosure allows solicitors and the court to reach a fair outcome — and failure to disclose fully can result in a settlement being overturned later.

How Does the Court Decide What’s Fair?

The court applies the legal principles set out in the Matrimonial Causes Act 1973 (Section 25), alongside relevant case law. Judges retain discretion in how these factors are weighed, which is why outcomes in financial proceedings can be difficult to predict with certainty and why early, experienced legal advice matters.

What Does the Court Consider Regarding the Family Home?

Under Section 25 of the Matrimonial Causes Act 1973, the court considers:

• The welfare of any children of the family (given first consideration)
• The income, earning capacity, and property of each party
• The standard of living enjoyed before the divorce
• The age of each party and the duration of the marriage
• Any physical or mental disability of either party
• Contributions made by each party, including caring for the home and raising children
• Whether a “clean break” between the parties is appropriate
• The conduct of each party, but only where it would be inequitable to disregard it

Why Choose Adam Bernard Solicitors

Our family lawyers and divorce solicitors have extensive experience handling financial settlements across London, from straightforward consent orders to contested court proceedings. We handle every case sensitively and thoroughly to give clients the best prospect of a fair outcome.

Frequently Asked Questions