financial agreement

Hello
If two people agree to their financial settlement and it is signed by both parties with their solicitors, is it legally binding? My partner has been advised that in order to get his divorce that it will still have to be approved by a judge, who may decide that it is not fair to one of them and can overthrow their agreement!It seems odd that if the two parties are happy with the arrangement thay have come to that the judge can alter their arrangement before allowing their divorce.
Can anyone help please?
I thought if two parties agreed with the division of assets/maintenance (if any) etc etc, then they could go ahead with the actual divocrce, once they have the financial settlement. Perhaps someone could explain!
thank you

Your partner is basically correct. The bomb proof advice is that any agreement should be approved by a Court and a formal order made giving effect to what the parties have agreed. If this is done, then it is almost certainly watertight unless it can be shown that the agreement was obtained by misrepresentation or concealement of assets.

Can a Court refuse to approve it ? Yes, but provided that there has been a full disclosure on the part of both parties, and both parties have had access to legal advice on their own account, the risk of this happening is low.

If you don't get the agreement approved, there is a risk from your point of view that your partner could come back at a later stage and try and get more. I believe it would be possible, even then, for the Court to say that the agreement was a fair one and should be approved and throw out any such claim. But the risk is there.

My advice is to get the agreement rubber stamped by the Court. The expense is not likely to be significant. You send to the Court a draft of the order which you want them to make, and support it by a brief summary of your financial position.

I would have thought the security would be worth the expense, which should not be all that great even if solicitors are involved.

Mike 100468

Many thanks!

Mine was signed sealed by soliciters and as mike says, mine came back for more so I have to go back through court again, on Xs soliciters words due to her addiction was unable to think clearly as she felt under pressure. So much under pressure she couldnt be bothered to even take advice from her soliciter and just wanted the money and run, in the end her soliciters threw her case out and we were unable to get her to court for the FH and disapeared 3 years later she is back, still and addict and has blown all her so want to come back for more.

It depends on where you live, If you live in Scotland, you can sign a Separation Agreement, in which both parties (eventually) agree on the ginacial side of things, and the divsion of assests. This is leagally binding. Once a SA has been signed, you can divorce your spouse only a year after separation, which saves lots of money, stress and mud-slinging.
Don't know if that helps?

If the agreement is registered officially, it is legally binding unless serious matters as Mike pointed out need/can be proven. The view of the Court is that registered agreements, even if wholly unfair are binding if both parties had legal representation and will only be set aside if a legal point has been ignored and can be proven. I had mine set aside.....the x2bs lawyer forced the situation and it turned out he was at fault! This added years to the litigation and even although the agreement gave x2b 67 and me 33....I was prepared to stick with it.....but the guilty lawyer was on an ego trip that quite franly left him with a huge red face!
My point....if ur both happy with the agrrement....stick with it to get closure as soon as...
Elle

Many thanks for all your comments! I have to say it's not me divorcing, but my partner divorcing (after 4 years separation). They seem to have reached a financial agreement but have been worried that a court may disagee with their division, even though both parties solicitors are working with them. Lets hope they don't! There seems to be much time wasting anyway, and that would be just another delay...