Ending a marriage brings with it a whole host of emotional and financial complexities. Taking professional advice, especially from a financial and law divorce specialist, can ensure you're informed, protected, and empowered, but you'll always want to be aware of the basics before reaching out for help.
1. Understanding the Divorce Legislation & Timelines
Since April 2022, England & Wales have used the No-Fault Divorce system under the Divorce, Dissolution and Separation Act 2020. This reform removed the requirement for blame (such as adultery or unreasonable behaviour), enabling couples to apply on the basis that the marriage has irretrievably broken down. Between January and March 2025, there were 28,890 divorce applications made under the no-fault divorce legislation in the UK. These applications can be made by a sole applicant or jointly, and there is now a mandatory waiting period before moving to conditional orders. Delays in court resources can affect how quickly financial and legal matters are resolved.
2. Assessing and Valuing Assets
You'll need to identify and value all matrimonial assets. These include jointly owned property, individual homes acquired during marriage, savings, investments, pensions, business interests, and any other valuable belongings. It's essential to obtain accurate valuations via professional property appraisals or financial statements for investments. Without proper valuation, splits may be unfair.
3. Pensions, Debts and Hidden Liabilities
Pensions are often overlooked yet frequently one of the largest assets in divorce settlements. Not including pension specification or valuation can lead to unequal or unsustainable outcomes. At the same time, liabilities (such as mortgages, personal loans, credit card debts) must be accounted for. Hidden liabilities (for example, joint debts or guarantees) can surprise those who do not have full financial disclosure. Ensure all debts are listed, all pensions are declared, and you understand how splitting may work via sharing or offsetting.
4. Ongoing Financial Needs & Future Income
When marriages end, future costs come into sharp focus. Childcare, housing (perhaps needing to secure a separate home), living costs, and inflation all matter. Also consider earning capacity: one spouse may have paused or reduced working hours for family care or may need to retrain or study to rejoin or upskill in the workforce. Projecting future income and expenses is essential. If support payments (maintenance) are to be part of the settlement, knowing realistic costs and income is critical.
5. Negotiation, Mediation or Court & Financial Remedies
There are several routes to resolving financial matters:
- Negotiation (direct discussion or via solicitors) can work if both parties are open to compromise.
- Mediation offers a facilitated way to reach agreement without full court proceedings; it tends to be less adversarial and less expensive.
- Finally, if an agreement fails, applying to court for financial remedy orders is the next obvious route to take. Courts look at many factors here: length of marriage, contributions (financial and non-financial), needs, earning capacity, and welfare of children.
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