Financial Orders on Divorce

PUBLISHED 14.10.19

 

It is a common misconception that a divorce finalises everything. In fact a divorce just dissolves the marriage itself. It does not dismiss the financial claims that have arisen as a result of the marriage. Those claims must be dismissed separately by way of a court order.

If you have not dealt with the financial claims from the marriage, then those claims remain open and your former spouse could at any time make a claim against you for financial provision. If, for example, you won the lottery, your former spouse could come and claim a share of the winnings.

Therefore a Financial Order should always be entered into at the decree nisi stage of the divorce. Even if you have no assets or liabilities, a Clean Break Order should still be obtained.

Once the Order has been approved by the court, it becomes legally binding and neither you not your former spouse can make any further claim against the other, even in the event of a lottery win or a future inheritance.

Should you have any queries about this or would like more information, please do not hesitate to contact a member of our Family Team:

Exeter – 01392 285000    Newton Abbot – 01626 330127    Cullompton – 01884 33818