No. There is no rule that every divorce must result in an equal division of all assets.

If the Family Court is asked to determine the financial arrangements, it considers a range of factors including the resources available to each person, their current and future financial needs, earning capacity, standard of living, responsibilities and the circumstances of any children. The length of the marriage and other relevant circumstances can also affect the outcome.

An equal division may be an appropriate starting point or outcome in some cases, but every financial settlement needs to be considered on its own facts.

It is normally advisable to formalise an agreed financial settlement through a Consent Order approved by the Family Court.

Simply reaching an informal agreement between yourselves does not make that arrangement legally binding. A Consent Order records how assets such as property, pensions, savings and investments will be dealt with and can also address ongoing maintenance. Once approved by the court and effective, it provides much greater certainty and can enable future financial claims to be dismissed where appropriate.

The court must consider whether the proposed arrangements are fair before approving the order.

Pensions are part of the financial picture that should be considered when resolving finances following divorce or dissolution. Depending on the circumstances, the settlement may involve a Pension Sharing Order or another arrangement which takes account of the value of pension provision.

It is important not to consider pensions purely by comparing their headline values. Different pensions can provide very different benefits, and specialist pension advice or actuarial evidence may be appropriate where significant or complex pension arrangements are involved.

You should also obtain advice before finalising the divorce where pension arrangements remain unresolved, as the timing of the Final Order can have financial consequences.

Reliable financial information is essential before a fair settlement can be reached. In formal financial remedy proceedings, both parties are required to provide financial information and supporting documents, initially through a Form E. Further questions and requests for documents can then be raised where additional information is required.

If you are concerned that assets, income or business interests have not been properly disclosed, speak to your solicitor rather than agreeing a settlement based on incomplete information. There are procedures available within financial remedy proceedings to seek further disclosure.

Not necessarily. Many divorcing couples are able to reach a financial agreement through solicitor negotiations, mediation or another form of non-court dispute resolution. Mediation can be used to help parties reach agreement about property, pensions, savings and investments, and an agreed settlement can then be converted into a Consent Order for approval by the court.

If agreement cannot be reached, either party can apply for a financial order and ask the Family Court to determine the outcome. The court process ordinarily includes opportunities to negotiate and reach a settlement before a final hearing takes place.

Where possible, resolving matters by agreement will generally save time and legal costs compared with proceeding to a contested final hearing.