Do you need a financial consent order when getting a Divorce in England and Wales?
For a free consultation about, ‘Do you need a financial order when divorcing?’ contact our legal helpline to book a free consultation.
Divorce is never easy, and one of the most complex aspects of the process is dividing the finances. If you are going through a divorce in England and Wales, you may wonder if a financial consent order is necessary. Here’s what you need to know:
What is a financial consent order?
A financial consent order is a legally binding agreement that ensures all financial matters between you and your spouse are formally settled. While not mandatory in every divorce, it is highly recommended that you obtain one, especially when you want certainty about how assets, pensions, debts, and spousal maintenance will be divided.
Why is a financial consent order important?
- Finality and Protection: Once approved by the court, a financial consent order becomes legally binding and prevents either party from making future claims against the other. Without it, your ex-partner could potentially come back to request a share of assets at any time in the future.
- Clarity: A consent order provides clear terms on how finances will be split, ensuring both parties understand their responsibilities. This is crucial for avoiding misunderstandings or disputes further down the line.
- Peace of Mind: Having a consent order in place offers peace of mind, knowing that the financial aspects of your divorce are completely and legally finalised.
When is a financial consent order necessary?
While a consent order is not required for you to get divorced, it is advisable to have one if you and your spouse have financial ties, such as joint property or shared investments. In cases where there are children, or one spouse may be entitled to maintenance, it becomes especially crucial to formalise these arrangements.
How we can help with financial orders when divorcing
Because a financial consent order offers essential protection and clarity it’s wise to seek specialist legal advice to ensure your financial future is secure and that your divorce is fully settled in accordance with the law.
So for further guidance on the question, ‘Do you need a financial order when divorcing?’ then our experienced family law team is here to help. Contact us for a free consultation today.
