Financial Orders on Divorce
It is important when getting divorced to deal with both the end of the marriage and the associated financial aspects. If you don’t, it can be possible for an ex-spouse or civil partner to make a claim in the future.
What is a Financial Order?
Once separated spouses have reached an agreement about finances, the agreement is documented in a ‘Financial Remedy Consent Order. This document will set out in detail the terms of the agreement reached, and the declarations made by the couple.
The Consent Order is then submitted to the Family Court for approval by a District Judge, and once approved if either party does not comply with the terms of the agreement, it is possible to apply to the Court to enforce the Order.
A Consent Order is the same as a Financial Remedy Order ordered by the Court in contested financial remedy proceedings, the only difference being that it is made by agreement between the parties.
Is a Consent Order the same as a ‘Clean Break’ Order?
A Financial Remedy Order is not necessarily also a Clean Break Order.
A Consent Order can contain a clean break order within it, if it is appropriate to do so. A clean break severs the financial ties and obligations between ex-spouses. It confirms the full and final settlement between them and ensures that neither can make a future claim against the other in lifetime or on death.
It is not always appropriate for a Clean Break Order to form part of the Consent Order. For example, where an Order contains spousal maintenance the Court may defer a clean break in relation to income, capital and inheritance until the maintenance terms have expired such as the youngest child of the family reaching 18 years or the remarriage of the receiving party, or may order a partial immediate capital Clean Break with a deferred income Clean Break.
A Clean Break will only be made if it is considered suitable in each particular set of circumstances.
Contact Us
At David Gray Solicitors our expert Family Solicitors are here to offer specific tailored advice to assist you in navigating this complex area of law. Call 0191 232 9547 to make an appointment.
