Arranging a Financial Settlement
What is a financial order?
A financial order can be made by the Court after a decree nisi has been made in a divorce. The order can be made by agreement, in which case it is known as a consent order, or it can be made by the Judge in a contested application for a financial order.
Why would I want one?
If you get divorced, you and your spouse’s financial claims against each other will stay open until an order is made reflecting the divorce settlement you have agreed with your spouse, or decided by the Judge when you cannot agree, or if the Respondent in the divorce remarries (the remarriage trap). The Petitioner usually includes the financial claims in the divorce petition and so avoids the remarriage trap. In other words, if you don’t get an order there is a risk that one of you will be able to make a claim against the other in the future when you might not have realized that could happen.
Is a fixed fee available for a consent order?
If you and your spouse have agreed a financial settlement between you as to how you want to divide assets, and how much maintenance one will pay the other (if any) on divorce we can offer you a fixed fee agreement to prepare or check a consent order for you.
How much is the fixed fee and what is included?
The fixed fee will range between £450 and £800(+VAT) depending on the complexity of the agreement reached and the type of document required in your particular case and is also subject to there being no areas of disagreement between you. Each party will also be required to have disclosed all relevant financial information about themselves to each other and their respective lawyers. The fixed fee does not include dealing with disclosure for you or negotiating your agreement.
The fee includes drafting or checking an order and the paperwork necessary to send the consent application to the court.
When does the fixed fee not apply?
If you have not and cannot reach an agreement with your spouse then the fixed fee arrangement does not apply. In that case David’s normal hourly charge rate applies which is subject to VAT. His charge rate is very competitive.
Is there anything else to pay?
Yes, there will be a fee payable to the court of £50 when the application is submitted to a Judge for approval.
Contact David to arrange a free consultation to discuss your individual requirements in person, on the telephone or by using our contact us form.
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