Financial Consent Order Solicitors

+ Financial consent orders

We understand that settling financial matters outside of court is often the most desirable course of action for separating couples. When an agreement can be made between the parties involved in a divorce or dissolution of a civil partnership, a financial consent order must be submitted to the family court for approval to make the agreement legally binding and enforceable.

Without a financial consent order, neither party can be made to uphold the terms of the financial settlement. A financial consent order also prevents either party from having a claim to the other person’s assets in the future.

That’s why getting clear and accurate legal advice during the process is key to ensuring that you receive your fair share of marital assets and that your best financial interests are protected.

At Farnworth Rose Solicitors, we are committed to making negotiations go as stress-free as possible. If you cannot easily come to an agreement, we can support you through a range of alternative dispute resolution options including mediation, collaborative law, and arbitration.

+ Clean break orders

If there are no marital assets to split, then couples can obtain a clean break order.

This will sever all financial ties between the couple and ensure that there can be no future financial claim. Sometimes parties to a divorce or dissolution of a civil partnership think that they don’t need a financial order when there is nothing to split. However, your former spouse could still claim for financial provision later on.

There have been cases where even decades later, former spouses have made a successful claim on the significant wealth that their ex acquired long after the relationship ended. You simply never know how your situation will change. We can advise on the best course of action so you can safeguard your future finances.

+ Why you need a financial order?

You can get divorced from your spouse or legally dissolve a civil partnership without obtaining a financial order. Many people don’t realise that they need to go through separate financial proceedings. However, it’s crucial to obtain a financial order no matter what your current financial position is so that you are not left open to any future claim. Without a financial order in place, you are still tied to each other with the same financial obligations, responsibilities and rights that marriage and civil partnership afford. We understand that the breakdown of a relationship is a difficult time emotionally, and the added stress of legal proceedings can be overwhelming. Bear in mind that it is essential for your long-term happiness that you carry out the financial matters as effectively as possible to best meet the needs of you and your family. We will talk to you to understand your individual needs and ensure that you get the financial order most suited to your circumstances.

+ What will the court consider when making a financial order?

The court’s priority is to meet the needs of both parties involved, as well as ensure the welfare of any children. This includes considering how a financially dependent spouse will meet their living expenses now and in the future.

Factors to consider include the income, earning capacity, and financial resources of each person as well as their financial obligations and responsibilities. Then the court will look at more complex arguments on how property and other financial assets were acquired and the contributions each made to the welfare of the family.

The duration of the marriage and the age of each party is also of importance. Typically, the longer the marriage the more complicated the division of finances. Shorter marriages may only require a clean break order, while for a marriage that lasted for many years, the process of reaching the financial settlement and obtaining a financial consent order will be more involved.

The court will use its discretion and have the final say on what is the fairest way to divide assets between the couple. Our family law solicitors understand the expectations of the family court when it comes to reaching the financial settlement and can advise you on drafting the terms of your financial consent order.

+ What’s the difference between a financial consent order and a clean break order?

A clean break order is the relatively simple process of the court making the order that severs the financial ties between two people who do not have any assets to split and there are no ongoing maintenance payments.

A financial consent order is a ruling by the judge to make the financial settlement agreed between the ex-couple legally binding. A clean break can also be achievable within the consent order, but it depends on the needs of the individuals. For example, if there is ongoing spousal maintenance then this is a financial obligation which does not allow for an immediate clean break.

There’s often a clean break clause in the financial consent order to determine when the clean break can be achieved. This is usually after a specific period of time or when certain conditions are met. For example, it’s common for there to be a time limit on how long maintenance is paid. Alternatively, the money can be given in a lump sum to allow for a clean break to be made sooner.

+ My ex-spouse and I don’t own any financial assets do we still need a financial order?

Yes, because without a clean break order, you will still be financially obligated to each other. A financial order severs all financial ties between you and your former spouse or civil partner to prevent any future claims.

+ What is included in a financial consent order?

The financial consent order contains the details outlined in the agreement reached in negotiations with your ex-partner. The three main sections in the consent order are:

• Recitals – the financial agreements made with your former spouse.
• Undertakings – commitments to the court that you will not break specific promises.
• Orders – detailed settlements related to financial assets including property.

+ How long does it take to get a financial order?

The length of time that it takes to obtain a financial order depends on different factors such as whether you reach an agreement in family mediation or whether the financial proceedings are contested through the courts. Negotiated settlements can be reached relatively quickly while court proceedings can take as long as 12-18 months.

In cases where the terms of the consent order are straightforward, the courts can typically process the application for the order within 4-6 weeks. If the court decides that the agreement is fair and reasonable it can be approved without further need for communication with either party.

However, if there are issues to address or the court deems it unfair then the court may ask for more information. In the event that the court is still unable to approve the agreement, a hearing may be required.

+ Can a financial order be challenged?

The point of a financial order is that it concludes the financial settlement in divorce and allows both parties to move forward with their lives, knowing that their financial affairs are now permanently separated. This means that a financial order can only be challenged in special circumstances.

For instance, if you later discover and can prove that marital assets were undervalued to an extent that significantly impacts the settlement. The court may also take your challenge seriously if you can demonstrate that you were put under undue pressure or influence at the time to make decisions that did not benefit you and even left you at a distinct disadvantage.

+ Can a financial order be challenged?

Despite the best attempts to create a fair and reasonable financial settlement, sometimes one party simply fails to abide by the terms of the consent order. A common issue is the failure to make maintenance payments. There may be a valid reason such as an administrative error or the person is unable to make the payment due to an unexpected job loss.

If a financial order is breached, the first step is to ask the other party to honour the terms of the agreement. If this doesn’t help then you can apply to the family court to enforce the breach. If the court agrees that the financial order has been breached there are several options for remedying it including making a charge over a property, granting a third-party debt order, and making an attachment of earnings order.

+ What can I do if I think my ex is hiding assets during the financial remedy process?

When negotiating a financial order, each person must provide full financial disclosure. This includes identifying any property, pensions, savings, stocks and shares, investments and business interests. Failure to do so can lead to the offending party being accused of fraud. This is a criminal offence.

If you're found to have intentionally hidden assets you may be fined or found in contempt of court which can carry a prison sentence. It’s best to be upfront and honest to achieve a fair outcome for everyone.

If you think your former partner is hiding assets, we can help uncover them. The first step is to write to your ex’s solicitor asking for full disclosure or you can ask a court to issue an order demanding the full disclosure of the extent of their wealth. We’ll review relevant financial documents thoroughly to identify any inconsistencies and we can also work with forensic accountants to investigate the true financial situation.