Hartnell Chanot: Divorce/Family Law Solicitors Exeter, Devon

Finances

How your finances are divided and what financial claims can be made.

One of the main concerns people have on the breakdown of their marriage is how their finances are to be divided and their divorce settlement.

The following is intended to provide an overview of the main points concerning these financial matters known legally as ancillary relief.

Financial Claims

On divorce or judicial separation you and your spouse have the right to bring certain financial claims against each other. These are as follows:

• Maintenance Orders, e.g. where one party is ordered to pay a monthly sum to the other for themselves or in some circumstances for the children
• Lump Sum Orders, e.g. where one party is ordered to pay a specified sum to the other
• Property Adjustment Orders e.g. where a property is transferred to one party
• Pension Orders e.g. where one parties pensions is split in two to make provision for the other spouse (pension sharing) or what is known as earmarking - where one persons pension is directed to be paid to the other.