Divorce - How do we get an agreed Financial Court Order?
16 NOV 2020
We are often asked to help when, following separation, a married couple have agreed how their finances are to be dealt with and they want to make these arrangements final so that neither can change their minds. This is a very good idea as, without a court order, financial claims can be made at any time after the first divorce order, Decree Nisi. These claims do not end on the making of the final divorce order, Decree Absolute.
Within divorce proceedings, you can apply to the court for a financial consent order which is a document approved by the Court setting out the agreement you have reached and which provides that neither of you can make any further financial claim against the other (provided there is no ongoing spousal maintenance). These orders can only be applied for after the making of the first divorce order, Decree Nisi. The Court require you both to complete and sign a Statement of Information which sets out the facts in your case, including a summary of your income and assets. The Court requires this information so that it can decide whether it is appropriate in all the circumstances to approve the financial consent order.
Although it is not necessary for the order to be signed by solicitors on your behalf, this is an important legal document and we recommend that both spouses take separate independent legal advice on the contents. Once the financial order is made it can rarely be changed. The order can record agreements and include provision for the payment of a lump sum, transfer of property, sale of property, transfers of assets such as shares, pension sharing orders, spousal and child maintenance orders.
Our specialist family lawyers can prepare these documents for you and advise you upon the court’s procedure and powers.
We now offer a range of fixed fees in this area. Please see our Financial Agreement Fixed Fee page for further information.