When a relationship ends, some couples are able to agree to divorce amicably and deal with division of assets by agreement. It is important to ensure the terms of settlement are recorded in a Consent Order – a Decree Absolute/Conditional Order does not deal with financial matters, it legally ends the marriage/civil partnership.
The Consent Order sets out what has been agreed, what divisions have already been done, and can also specify any future agreements such as sale of the family home when the children are no longer dependent.
Whilst it is not a requirement to have a financial Consent Order, if no financial Order is made then either party can seek to claim through the Courts for financial arrangements in the future, in particular if their circumstances change.
When a Financial Order is made, it states that the terms are full and final and records the clean break, giving both parties certainty that there will be no further claim in the future in respect of their marriage.
You do not have to go to court if the order is by consent, but the order must be approved by a Judge who will consider whether the terms are fair and reasonable based on the parties financial positions.
Even if you do not have any financial matters to sort out, it is still advisable to have a simple clean break order which prevents either party to the marriage making a claim in the future and gives you peace of mind for your future finances.
A Decree Absolute/Conditional Order does not prevent financial claims being made in the future, but a re-marriage may prejudice your position. Seek legal advice which will be tailored to your specific circumstances. Call Melanie Young on 01384 811811