posted 21st June 2023
Do I Need a Financial Consent Order?
The short answer is yes.
A financial consent order is an incredibly important document as it brings about financial severance between the spouses. Without the order, a former spouse can make financial claims against you even after the divorce has been finalised and years into the future.
Both parties need to understand the full picture first
It is not uncommon for one spouse to have a better understanding or more control over the marital finances. That is a starting point which must be rectified.
Both parties need to know what exists by way of assets and debts before they can discuss what a fair settlement looks like. It is also worth noting that what the parties feel is fair may not be fair in the eyes of the law.
That is why it matters to engage a mediator or negotiator with the experience to guide both parties through financial disclosure and settlement negotiations.
What happens without one
Both parties leave themselves vulnerable to future claims, regardless of what they believed their agreement to be.
A consent order is a legally binding order of the court. Both parties are bound to adhere to its terms, and where it includes a clean break, it brings an end to future claims between them.
Parting on good terms is not protection
It is most regrettable that spouses who part on civil terms sometimes believe neither would ever make a further financial claim on the other. Sadly that is very often not the case. Once a new partner comes into the picture, for example, attitudes can change dramatically.
The order is what makes the position certain rather than depending on goodwill.
In summary
If both parties want legally binding financial severance and want to negotiate the settlement by agreement rather than through the court, the consent order is the route to take.
We draw up the order as part of the process, so there is no need to instruct a solicitor separately. Get in touch for a free initial consultation.
