Below is some useful information on Financial Orders in Divorce, For other useful information see our FAQ page here https://nationalfamilymediationservice.co.uk/faqs/
Navigating the financial aspects of divorce can be challenging. A Financial Order is a legally binding document approved by the court that finalises the division of assets, income, and pensions between divorcing couples in England and Wales.
While Bangor falls under the jurisdiction of the courts of England and Wales, the relevant regional courts and local services will handle your application.
The court’s primary duty, set out in the Matrimonial Causes Act 1973, is to achieve a fair outcome. There is no automatic 50/50 split; every decision is based on the specific circumstances of the family.
The judge must consider a list of statutory factors, often referred to as the ‘Section 25 factors’:
In practice, the court aims to meet the reasonable needs of both parties, particularly regarding housing and income, especially where children are involved.
Financial Orders dictate how the matrimonial assets are distributed. The main types of orders are:
Property Adjustment Orders
These orders deal with transferring or adjusting the ownership of property, such as the family home. They include:
Transfer of Property: Ordering the family home (or other assets) to be transferred from one party’s name (or joint names) into the sole name of the other.
Order for Sale: Directing that a property be sold and the proceeds divided in specified proportions.
Mesher or Martin Orders (Deferred Sale): These allow one party (usually the one caring for the children) to remain in the property until a specified event (e.g., the youngest child reaching 18, or the occupying party remarrying/cohabiting), at which point the property is sold and the proceeds divided.
Lump Sum Orders
A requirement for one party to pay a fixed, single sum of money to the other, either immediately or by a specified future date. These are often used to equalise the capital division or achieve a “clean break” (see below).
Periodical Payments Orders (Spousal Maintenance)
This requires one party to pay the other a fixed amount regularly (e.g., monthly). This is usually granted when one party cannot meet their reasonable needs from their own income or earning capacity.
The court aims to ensure the payment duration is only for as long as necessary to allow the recipient to become financially independent.
Nominal Maintenance: Sometimes a court orders maintenance of £1 per year, purely to keep the maintenance claim open for a fixed period or until a trigger event, allowing the recipient to apply for a higher sum later if circumstances drastically change.
Pension Sharing Orders
Pensions are treated as a matrimonial asset. A Pension Sharing Order divides the pension assets accrued during the marriage by transferring a specified percentage of one party’s pension value into the other party’s name, creating a separate pension pot for them. This is often crucial for addressing long-term financial fairness.
The Clean Break Order
This is the most common objective for both parties. A Clean Break Order dismisses any and all future claims one party may have against the other for income or capital.
Step 1: Mediation Information and Assessment Meeting (MIAM)
Before you can start court proceedings for a financial order (Form A), you must first attend a MIAM with a trained mediator. This is a mandatory requirement in almost all cases and is intended to encourage resolution outside of court.
Step 2: Full and Frank Financial Disclosure (Form E)
Whether you are applying for a Consent Order (by agreement) or a Contested Financial Order (by dispute), both parties must complete a detailed financial disclosure form, known as Form E. This includes comprehensive details of all assets, liabilities, income, pensions, and future needs.
Step 3: Application to Court (Form A)
If mediation fails or is deemed unsuitable, an application is made to the court using Form A.
Step 4: Court Hearings (Contested Cases)
If the matter is contested, the court process typically involves three stages:
While there may be local hearing centres, financial remedy applications are often handled by regional family centres.
The nearest primary Family Court likely serving the Bangor and Gwynedd area is:
Wrexham Family Court (Wrexham County and Family Court) is one of the key venues handling financial remedies in North Wales.
Contact: The HMCTS helpline for general financial remedy queries is 0300 123 5577.
Mediation Services
Family mediation is strongly encouraged as a quicker, cheaper, and less adversarial way to reach a binding financial agreement (Consent Order). National Family Mediation Services offer local and online mediation services and are registered with the Family Mediation Council, we serve the North Wales region, helping couples in Bangor to resolve financial and child arrangements.
Legal Advice
Given the complexity of dividing assets, especially pensions and property, seeking advice from a specialist family solicitor in the Gwynedd or North Wales area is highly recommended to ensure your financial settlement is fair and your future needs are met.
National Family Mediation offers Services in the Bangor area.
Call the Team today on 03300 101 367 or fill out a contact form here.
Our Bangor Mediation Hub Strictly by Appointment Only. Location is not staffed.
Mediation and urgent MIAM appointments can be arranged online
Our Bangor Mediation Hub Address;
National Family Mediation Service Financial Orders for Divorce in Bangor