In most cases, when a couple decides to divorce it is common that they should want to sort out their finances.
In order to make sure these arrangements are legally binding, a consent order is made to formalise the specifics that have been agreed.
When a couple divorce, they are not automatically severed from their financial ties to their spouse. In some cases, it is possible for an ex-spouse to make a financial claim following the divorce, and they may be entitled to capital, income, and a share of their partner’s pension.
Unless an order is made, an ex-partners ability to claim remains available indefinitely.
A consent order has the ability to stop this from happening and can decide how finances are to be distributed and provide an end date for claims your ex-partner could make.
For the order, you must complete a Statement of Information (D81) which shows the court your current financial situation, and that of your spouse.
This information includes any assets, debts, pensions, and income you may have.
Once the order has been drafted, and both parties have agreed to the terms it will be sent to the court for approval, and if approved the court should grant the order.
It is usually a good idea to have the consent order in place before finalising the divorce. Once the divorce is finalised, the consent order shall become legally binding.
If you would like further information on consent orders or would like to speak to a specialist regarding your divorce, call Dylan Nair Solicitors today on 01772 494366.