In April of 2022 the new no fault divorce procedure came into force. It is important to understand that this doesn’t negate the need for a financial order which is an important step in the divorce process.
Sorting out your financial order
It can be easy to think that once you have your Final Divorce Order (formerly Decree Absolute) all financial claims between you will stop. However, the new terminology can be misleading as financial matters are dealt with under a separate application.
Without a financial order you leave open claims which can include claims against your house, savings, income and pension, even if those assets are in your sole name. There is no time limit to these claims so in some scenarios you could be faced with a claim by your ex-spouse several years after you separated.
Consider your financial matters for the final order
It is important therefore that you consider your financial matters before you apply for the final order. The court can make orders from the conditional order (formerly Decree Nisi) so that is a good time to start to address these.
How we can help
The advice of a solicitor as to an appropriate order is invaluable even if you are having discussions between yourselves as they can help you consider how the factors a court takes into account might apply to you. They can also help you to draft the order for the court and ensure no assets are missed, for example a forgotten pension.
Often clients are reluctant to instruct a solicitor, worrying that this could be seen as an aggressive move and cause friction with their ex-partner. The court is able to make an order by consent if you are both in agreement. There is therefore no need to issue financial proceedings.
We aim to work constructively with you to minimise conflict and help you to find a way forward in the best way for you and your family whilst ensuring that you are properly provided for.
For more information on the factors that the court look at when dividing family assets and the process, see our articles here.