The ongoing cost of living crisis is placing great strain on couples, causing divorces to rise. Jackson Lees’ divorce expert, Sarah McCarthy, explains the importance of seeking independent legal advice to secure your finances when going through a separation.

The high inflation rate and increased cost of living have placed couples and families under a great deal of pressure, which has undoubtedly impacted divorce rates.

With the current cost of living crisis looming over our heads, the increased strain on our finances is going to place additional stress on married couples and divorce rates are likely to increase even further.

Are you aware of the new divorce procedures? 

The Courts have implemented new procedures to simplify and streamline the divorce process.

This includes the new Divorce, Dissolution and Separation Act 2020, which enables married couples to divorce without apportioning blame to the other.

Both parties in a divorce must seek separate and independent legal advice about the resolution and division of marital assets.

It may come as a surprise to many, that whilst a divorce legally brings an end to a marriage, it does not automatically bring an end to any financial claims that an ex-spouse has against the other

Call today to speak to an expert in Family Law. 

Is there a time limit for bringing a financial claim after divorce?

There is no statutory time limit for bringing a financial claim against an ex-spouse after divorce, therefore both parties are left with the uncertainty that even years after their divorce, they could be faced with their former spouse making an application to Court for financial provision against them.

Only an Order approved and sealed by the Court ensures that all financial matters and assets have been dealt with and divided appropriately.

Where appropriate, it will also include a clean break to dismiss all future financial claims that a divorced couple may have against one another.

This means that any property, capital, and other assets that are acquired by former spouses after separation and divorce are protected.

Without such an Order, which can either be made by agreement between the spouses and lodged with the Court or made by a Judge in financial remedy proceedings, the respective claims of each spouse against the other are simply left open indefinitely.

Are your assets protected? Make an enquiry.

There is now a 20-week timeframe for a Conditional Order.

The Divorce, Dissolution and Separation Act 2020 provides divorcing couples with a 20-week timeframe from the initial divorce application being made for them to apply for a Conditional Order.

This extended period will enable spouses to discuss and agree on any financial matters and incorporate their decisions into a Financial Consent Order.

A Judge can then formally approve these Orders, turning any decisions made into a legal and enforceable agreement.

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"What if we don't come to an agreement?"

If spouses can’t agree, then either party is open to making an application for a Financial Remedy Order so that a Judge can decide on behalf of the couple.

While the introduction of ‘streamlined’ divorces may be tempting for divorcing couples to try and handle the separation themselves without the help of a Solicitor, seeking independent legal advice will allow them the peace of mind that the division of their marital assets will be appropriate and fair.

Our divorce experts understand how stressful and upsetting a divorce can be, which is why we’re on hand to listen to your situation and ensure that your finances are handled sensitively and appropriately. Call today.