One of the significant steps towards making the divorce worthwhile is closing a financial deal, but it is also crucial to seal the deal in a court that ensures the deal is legally enforceable. That is where a Financial Consent Order comes in. It provides you and your ex-spouse with a formal arrangement for the financial aspects, in which neither of you can claim any further money after the court grants the order.
A Financial Consent Order is a legal document issued by the court of finance that sets out the financial agreement between the couple going through a divorce or separation. It determines how assets, including property, savings, pensions, and other financial resources, are to be shared and may also include spousal maintenance or lump-sum payments.
A Consent Order is legally binding on the parties once approval is granted, and both parties are therefore obliged to adhere to the terms provided. In the absence thereof, despite having arrived at a mutual agreement, your ex-partner can still claim against you in the future and claim some cash.
A Consent Order may be very broad in taking into account some financial arrangements and may include:
To apply for a Financial Consent Order, you and your former spouse need to negotiate, mediate, or have a lawyer agree to a financial agreement. The Consent Order will thereafter be drafted by your solicitor, expressly indicating and properly indicating all the agreed-upon sections.
The request is sent to the family court, requesting your financial position summary (Form D81). The documents will be examined in a court so that the agreement can be fair and reasonable to both parties. Upon approval, the order is legalized.
You may apply for a Consent Order when you have been given your conditional order (previously known as a decree nisi) but have not yet been given the final order (decree absolute) in a divorce.
Even though it sounds quite simple, the formulation of a Consent Order should involve a clear legal form and an in-depth comprehension of the financial consequences. A proficient family law solicitor will make your agreement just, legal and will file it in court in a proper manner. Any errors or ambiguous words might become the source of controversy or difficulty in enforcement in the future.
Our talented family law team at First Law Solicitors helps people to prepare, examine, and file Financial Consent Orders, paying attention to their accuracy and quality. We intend to carry it out in the easiest way possible, with your financial interests being fully safeguarded.
You have come to friendly terms, or you need a go-round on the negotiation on terms; we are here to assist you in making your financial settlement legally and effectively.
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