16 December 2022
Paying legal costs in agreeing finances and arrangements for children is becoming an increasing challenge due to the cost-of-living crisis. Many divorcing couples are managing the process themselves or turning to online help. However, individuals may discover later that they may have agreed financial matters or children’s arrangements that leave them at a significant disadvantage. It could be that professional advice and representation may have achieved a fairer outcome.
Family law expert Nicola Bennetts of Bournemouth based solicitors Aldridge Brownlee said: “Having an amicable divorce does not remove the need to record the terms of settlement in relation to the assets of the marriage in a financial consent order.”
When a couple are divorcing, they should record the financial agreement reached in a consent order. It does not require them to attend court themselves.
The consent order can include details of how assets will be divided, including cash, property, pensions and other investments. It can also include arrangements for maintenance payments, including child maintenance. Both parties must agree and sign the draft consent order and a Judge will consider the terms to make sure they are fair, reasonable, and demonstrate a fair division of assets. Once approved it becomes a legally binding order. The consent order generally includes a clause to prevent further claims being made against the other in the future.
Nicola added: “Without a consent order dismissing all claims, either party can make a later claim against the other or ask for financial support in future. A time bomb can be left ticking. A case which demonstrates this was heard by the Supreme Court in 2015, when a former wife wished to make a claim for a share of the fortune amassed by her husband 30 years after they parted, as no consent order was made when they divorced.”
The couple had met and married in 1981 and had a child in 1983, separating just one year later. The wife became a full-time single parent with little income, and had little contact with her former husband, who went on to make a fortune through a green energy company he founded in the 1990s. The Supreme Court granted permission for Kathleen Wyatt to pursue financial claim against multi-millionaire Dale Vince, said to be worth £57m. The parties however managed to agree that Ms Wyatt should have £300,000, significantly less than what she sought.
If you would like assistance with a consent order you can contact our friendly and approachable Family lawyers based at our Bournemouth and Christchurch offices:
Please note, this is not legal advice. It is intended to provide information of general interest about current legal issues.
