Legal News | 27.02.23
Divorce: don’t forget the finances
Divorce is often the focus of separating couples following a marital breakdown. Divorce proceedings have recently moved online and the introduction of a no-fault divorce petition has certainly helped to take the heat out of this process generally.
Couples are understandably eager to move on with their lives following the final order for divorce. This has however led to a significant number of divorcing couples never addressing the potential financial claims that follow divorce.
It is unfortunately not widely appreciated that divorce itself does not dismiss these financial claims and unless this is addressed following separation, the potential for you or your former spouse to pursue such claims can remain indefinitely. This can be particularly problematic should either of your financial circumstances change significantly post-separation.
Financial Consent Order
It is also important to recognise that an informal financial arrangement reached between spouses following separation will not be binding to the Court. Unless this agreement is formalised and approved as a financial Consent Order; the threat of your former spouse seeking to unpick this agreement at a later date remains.
We would therefore always recommend that clients obtain closure and seek to finalise financial matters alongside their legal separation. This will mean agreeing and formalising financial arrangements within a Consent Order which, once approved by the Court, will become a legally binding agreement between the parties.
Clients often fear that this will lead to a long and acrimonious battle with their spouse. This is rarely necessary and they will often be surprised at how straightforward this process can be if both parties are prepared to engage properly and present their financial circumstances in a transparent manner.
At Wansbroughs, our trusted divorce lawyers will work with you to resolve your difficulties with the least amount of acrimony and expense. All of our Family lawyers are members of Resolution and will provide a constructive approach to your issues that considers the needs of the whole family. The team is frequently recommended in the Legal 500 for their ‘good knowledge’, ‘carefully thought out statements’ and ability to ‘go the extra mile’ for clients.
We provide free initial advice appointments (up to 30 minutes) enabling you to meet one of the divorce team and discuss your concerns freely and confidentially.
If you would like any further information on our Divorce & Separation services and to make an appointment please contact the team on 01380 733300 or email firstname.lastname@example.org