Dealing with the matrimonial finances upon relationship breakdown

It is a common misconception among couples that once they are divorced and the marriage is dissolved, this also means that the parties can no longer make a claim against each other in respect of the finances. However, despite the divorce being finalised, the financial claims in fact remain open, unless there is a legally binding court order dealing with the matrimonial finances and dismissing the claims. This means that either party can apply to the court at any time in the future to resolve the finances.

If an agreement is reached between parties in respect of the finances, the terms of the agreement can be recorded in a legally binding document known as a Consent Order. This document is then lodged with the Court, together with a brief statement providing a summary of both parties’ respective finances, and the Consent Order must be approved by the Court. If the Judge approves the Order, the terms of the settlement become a legally binding court order that neither party can retract from. This document therefore provides both parties with security and protection going forward.

At Paul Robinson Solicitors, we understand going through a divorce and dividing the family finances can sometimes seem overwhelming. Our expert team of family lawyers provide you with sound legal advice and can guide you through this process. If you would like speak to one of our specialists, the family department at Paul Robinson Solicitors offer a no-obligation initial fixed fee consultation for £100 plus VAT. To book an appointment, please contact us on 01702 338338/01277 500123/0208 049 5888. Please note that we can facilitate appointments at our Westcliff, Benfleet, Billericay or Stratford offices.