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ALEXANDER JLO (AJLO), A LONDON-BASED FIRM OF SOLICITORS HAS A TEAM OF EXPERTS THAT ARE HIGHLY EXPERIENCED IN SEEKING FINANCIAL REMEDIES FOR CLIENTS OR DEFENDING FINANCIAL REMEDY CLAIMS IN DIVORCE CASES.
Financial Remedy Solicitors
What are Financial Remedies?
Financial Remedies refer to the distribution of family assets between involved parties, ensuring the equitable split of finances after a divorce. Alexander JLO’s team offers hassle-free services, including financial remedy advice and negotiating financial orders on your behalf.
Financial Remedy Services from Alexander JLO
Alexander JLO’s highly reputable team aims to resolve financial remedy cases amicably and without court involvement, in order to reduce tension, stress and legal costs for all parties.
We offer a friendly and personal service and work closely with you to gain an accurate understanding of your financial circumstances and objectives. Our aim is to achieve a voluntary and amicable agreement, as quickly as possible, to reduce emotional pressures on all parties involved whilst at the same time being willing to fight your corner if such agreement cannot be reached. By involving Alexander JLO in financial remedy matters, you assure a quick, easy and hassle-free process.
We would be delighted to offer a free initial appointment to discuss your requirements; however, we are unable to assist with Legal Aid applications.
Court Involvement
If a couple cannot agree on a financial remedies amicably, court involvement can be required to deal with the case. In such cases, the court has the power to make the following orders:
- Lump sum payments – Lump sum orders can be made in favour of the other party, or, more rarely, for the benefit of a child of the family. Further information can be found here.
- Property adjustment orders – This orders the transfer of property into the ownership of a husband or wife. Further information can be found here.
- Spousal Maintenance payments – These refer to an amount of money that one party has to pay towards another, usually their spouse or civil partner, based on a legal duty to support them. Further information can be found here.
- Child Maintenance payments – These refer to sums paid towards the maintainable of the children of the marriage. Further information. Can be found here.
- Pension sharing orders – Pension assets are split immediately, and each party can decide what to do with their share independently. Further information can be found here.
- “Clean breaks” – Clean break orders sever all financial ties between the involved parties from that point in time onwards. Further information can be found here.
FAQs about Financial Remedies
Who can apply for financial remedies?
Either party in a marriage can apply for financial remedies. The applying party is known as the Applicant, while the other party is known as the Respondent. There is no bias in favour of the Applicant in financial remedy case proceedings.
How long does the process take?
The length of the financial remedy process depends on the complexity of the case itself. If the involved parties reach an agreement amicably, the process can be done relatively quickly. However, some disputed cases can take up to a year or longer to resolve. On average, the financial remedy process takes about 9 months to complete.
What factors do courts examine when considering a financial remedy case?
Courts closely examine a number of crucial factors when considering financial remedy cases, including:
- The welfare of any children involved
- The income, earning capacity, resources and property of each party
- Each party’s present and future financial needs and obligations
- The valuation of assets relating to the marriage, including investments, family homes, pensions and insurance, as well as any debts
- The duration of the marriage and the age of each party
- Whether either party would be seriously disadvantaged by the ending of the marriage or civil union
Are consent orders needed for financial remedies?
In cases where both parties are able to reach an amicable agreement successfully, consent orders are still required to ensure the financial settlement agreement is legally binding. We can apply to the court for a consent order on your behalf.
Help with completing Form E
Alexander JLO Solicitors are well aware that going through divorce can be very difficult. Whilst the implementation of no-fault divorce back in 2022 has made the legal process much simpler, there are times, especially in relation to financial matters, when input from an experienced solicitor is vital.
With that in mind we have developed a revolutionary new service which will ascertain whether or not it’s wise to have legal advice on finances when going through divorce. Simply called Form Easy it will assess your level and type of assets and determine if you qualify for a free, no-obligation consultation to discuss your case with us and decide on the best ways forward for you. Simply click the Form Easy button, or visit the page here, answer a few short questions and we will let you have our input on whether we can help.
- Lump Sum Orders: This is an order for one spouse to pay a specific, one-off amount of money to the other. It can be used to equalize the financial situation, compensate one party, or in return for an asset. This payment can sometimes be made in installments.
- Spousal Maintenance Orders: Also known as periodical payments, these are regular payments from one spouse to the other for ongoing financial support, often for a set period of time or until one party dies or remarries. The goal is often for the recipient to become self-sufficient eventually.
- Pension Sharing Orders: As pensions are often one of a couple’s largest assets, a pension sharing order divides pension assets between the parties, with a percentage of one spouse’s pension transferred into a new policy in the other’s sole name.
- Child Maintenance Orders: While the Child Maintenance Service (CMS) typically handles child maintenance, specific arrangements can be included in a consent order, although they are only legally binding for 12 months before the CMS can become involved.
- Clean Break Orders: This is a crucial type of order that severs all financial ties between the parties, preventing any future financial claims from one spouse against the other (e.g., claims on future earnings or inheritance). It provides finality and certainty.
Testimonials
A Law Firm You Can Trust
All of our solicitors and lawyers are trained to the highest standards in their speciality area and are dedicated to following best practices, to ensure that our clients get the most satisfactory legal services possible. We are proud to be members of Resolution and are accredited by the Law Society as Family Law specialists.
Alexander JLO is also delighted to be listed in the Review Solicitors Guide for many areas. Take a look at our firm’s entry and Peter Johnson’s (Senior Partner) profile, or scroll down to see the rest of our team.
4.9/5
www.reviewsol icitors.co.uk
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