A regular question we get asked is:
“Can my partner and I just agree how Finances and Property are split without spending money on solicitors?”
My answer generally is: Yes, but please be careful.
We understand that lots of people want to deal with finances and properties with minimal fuss (and minimal money spent on solicitors). If you’re one of those people that wants to negotiate and agree yourself, you can do this, but you need to go into any discussions with open eyes.
Before agreeing anything, ask yourself the following questions:
- Do you understand and have evidence of your partner’s financial position including income, assets and pension(s)?If pensions are of any significant value, have you obtained expert advice with regard to how pensions may be divided, or at least taken into account?
- Have you seen your partner’s bank statements and have you been through them?
- If you are dealing with properties, have they been valued?
- Are all of the assets being taken into account when negotiating and agreeing finances and property, including pensions?
- Are you completely confident that you should proceed without taking expert legal advice and do you understand the risks of not doing so?
If your answer to any of the above is ‘no’ then we strongly urge you to get all the information you need before committing to any financial and property agreement and obtaining some legal advice from us.
This article was written by Jeff Garland, a specialist solicitor in Divorce and Child Law. If you have any questions or need more help, please don’t hesitate to give Jeff a call or drop him an e-mail using the details below.
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