The importance of a legally binding order to record your financial settlement on divorce

One of the biggest misconceptions of divorcing couples is that once their marriage has been dissolved and the final order pronounced, all matters are concluded. Even though you may no longer be married, this does not mean that all issues have been resolved.

Associate solicitor Rebecca Patience from Harrison Drury’s divorce and family law team explains the value behind preparing a consent order.

If there is no legally binding order to record the financial agreement reached, your ex-partner could make a financial claim against you, even after many years have passed. To make your financial agreement legally binding you should seek the advice of a specialist family lawyer, who will be able to draft a consent order on your behalf.

What is a consent order?

A consent order is a record of the agreement reached in relation to the resolution of financial matters. Once terms are agreed it is submitted to the court for approval. A judge will then assess the fairness of the agreement.

There is usually no requirement for the parties to attend court. Once the order has been given court approval, the order has legal force and is binding on the parties.

What information is required to prepare a consent order?

Your solicitor will require details of the agreement that has been reached, to enable them to prepare the consent order. These details include how capital assets, liabilities, pensions and income will be dealt with.

Your solicitor will also prepare a statement of information, which will be sent to the court. This statement provides a snapshot of your current financial position and enables the court to assess the fairness of the agreement you have reached.

The resolution of financial matters following separation or divorce is critical t. As it is important that the agreement is recorded in a legally binding court order, it is advisable to seek expert legal advice to ensure the order is prepared correctly.

If you would like to arrange an initial consultation with a member of our divorce and family law team, please contact Harrison Drury on 01772 258321.