Ideally an agreement is better than one imposed by a court.

Settlement should always be based upon full knowledge of each person’s current financial position, what their needs are at that time, what they might be in the future and how such needs may be met fairly, from the available resources.

Before reaching a financial settlement, it is important that both parties are fully aware of the assets (including pension assets), liabilities, incomes and likely future expenses of each other.  It would be usual for each party to prepare and exchange that information, before negotiations take place.

There are various ways to reach an agreement.  Ideally, the parties can find an acceptable solution between themselves.  Sometimes, in order to do so, the parties attend mediation.  Solicitors can advise each individual during the course of mediation or upon the terms of a proposed agreement following mediation.  In the absence of agreement, there may be negotiations through solicitors.  If such negotiations break down, an application can be made to the court.  An agreement may still be reached during proceedings (often at the financial dispute resolution stage) or there may be a final hearing when an order is imposed by the Judge.