I have reached a financial settlement. Do I need an order?
If you and your ex-partner are fortunate enough to have reached an agreement in relation to your finances after separation, you have already overcome a large hurdle by avoiding going to court.
An order is necessary to legally bind you both into your settlement. If you finalise your divorce without having your agreement approved by a Judge and an order sealed by the Court, you risk your ex-partner pursuing a financial claim against you in the future. There is no time limit for a claim once the Decree Nisi now called a Conditional Order is made within the divorce proceedings. It means they could make a financial claim against you even 10 or 20 years after your divorce, or even a claim against your estate after your death because you haven’t closed the door to making a claim in the form of an order which would dismiss your financial claims against each other.
Formalising your agreement within a consent order makes your divorce settlement binding and enforceable. A consent order provides certainty and peace of mind for the future, knowing that your ex-partner will not be able to make any financial claims against you or your estate.
At Townsends, we can assist you with preparing a consent order based on the agreements you have reached to be sealed by the court. An order can be placed before the court for approval without the cost of lengthy court proceedings and if the Court is happy with the agreement you don’t even have to attend court for the settlement to be approved.