Did you know your ex-partner could still claim money from you even after your divorce is finalised?
It may seem unfair, but without a financial consent order, your ex-partner may still be able to make financial claims against you in the future. A financial consent order helps protect your assets and ensures there is a clear financial settlement between you and your former partner.
When your divorce or civil partnership dissolution is finalised with a final order, your legal relationship ends. However, your financial ties do not automatically end unless they are addressed through a financial consent order approved by the court.
Without this order, your ex-partner could make claims against your finances if your circumstances change significantly. For example:
- One partner develops a successful business
- One partner receives an inheritance
- Pension benefits increase significantly
- One partner wins the lottery
These claims could potentially be made many years after the divorce, leaving you financially exposed.
What is a financial consent order?
A financial consent order is a legally binding document that records the financial agreement between divorcing couples or those dissolving a civil partnership. It sets out how financial assets such as property, savings, investments and pensions will be divided.
A consent order can also include a clean break provision, which prevents either party from making future financial claims against the other. This ensures that both parties can move forward independently without ongoing financial ties.
The terms of the order will depend on the couple’s financial circumstances and what both parties agree.
The remarriage trap
Another important issue to be aware of is what family lawyers refer to as the “remarriage trap.”
If you remarry before resolving financial claims from your previous marriage, you may lose your right to make certain financial claims against your former spouse.
For example, if financial matters have not been formally settled and you remarry, you will usually lose the ability to apply for:
- Lump sum payments
- Property adjustment orders
- Pension sharing orders
However, your former spouse may still be able to bring financial claims against you if there is no financial consent order in place.
This can create a very unbalanced situation, where one party loses their rights while the other still retains the ability to make a claim.
For this reason, it is important to resolve financial matters and obtain a financial consent order before remarrying.
How to obtain a financial consent order
Couples can reach a financial agreement in several ways, including:
- Direct negotiations between the parties
- Mediation
- Solicitor-led negotiations
Once an agreement has been reached, a solicitor can draft the consent order and submit it to the court for approval.
The court’s role is limited. A judge will review the order to ensure that the agreement appears fair to both parties. Once approved, the order becomes legally binding after the divorce or civil partnership dissolution is finalised.
Avoid the courtroom
In most cases, there is no need to attend a court hearing.
The judge will usually review the consent order on paper. If satisfied that the agreement is fair, the order will be approved. This provides clarity and peace of mind for both parties.
Protect your financial future
Without a financial consent order, financial claims between former spouses can remain open indefinitely.
Securing a consent order can:
- Protect your assets
- Prevent future financial claims
- Provide certainty for both parties
- Allow both individuals to move forward independently
If you are going through a divorce or civil partnership dissolution, obtaining a financial consent order can provide valuable protection and peace of mind.
For more information or a no-obligation consultation, contact our team on 0800 013 1165.
