In November 2023 the Report Fair Shares? Sorting out money and property on Divorce was published. Led by Professor Emma Hitchings (Bristol University) and funded by the Nuffield Foundation it investigated how divorcing couples in England and Wales negotiate financial arrangements both within and outside the legal system.
Only one-third of the c. 100,000 couples who divorce each year use the legal system to reach a financial settlement. The remaining two-thirds negotiate their own settlement or do not deal with financial matters at all. This is worrying as the Divorce itself does not sever financial claims created at the time of marriage. Without a formal clean break order (an order preventing future financial claims) there is no protection against potential financial losses/claims.
The report also found evidence that there were more positive outcomes for the Couples that engaged Solicitors to assist in negotiating and finalising financial arrangements with a Court Order, especially in cases involving pensions and ongoing financial support.
If you are in the process of separating or considering your position in relation to divorce and financial matters please contact us to arrange your free initial telephone appointment with our Divorce experts who offer bespoke and practical advice to help you get your ‘Fair Share!’
