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Financial Consent Orders
Why they are a good idea
Most couples who are getting divorced will own various assets and earn some income. It is sensible and prudent to try and agree on a financial settlement with your spouse. These arrangements will be incorporated into a Financial Consent Order and will come into effect when your divorce is granted.
Any such Order ensures both certainty and security and can prevent applications by either party being made at a later stage.
For example, without a suitably worded Order, it would be possible for your former spouse to make a claim against you if, at a later stage, you were to inherit a substantial sum or, if you were to die prematurely, they could make a claim against your estate as a former spouse.
An Order of this kind can incorporate many different items: 
- The Matrimonial Home
- Maintenance for a spouse and/or children
- Pensions
- Insurance Policies
- Savings Accounts
- Cars
- Personal possessions
- Debts
What's the procedure?
After completing your divorce petition:
- You complete our questionnaire giving details of:
a) Your income and assets and those of your spouse.
b) How you have jointly agreed to divide your finances and assets.
- Return the questionnaire to us and we draft the Order.
- The Order is sent to you and your spouse for joint approval.
- We draft a second document called a Statement of Information which provides the Court with a basic breakdown of the personal and financial details of each party. (This allows the Court to check that the terms of the agreement are reasonable and fair.)
- This document is sent to you and your spouse for joint approval.
- We file both signed documents at the Court and an Order should be granted coming into effect at the same time as your Decree Absolute.
Occasionally the Court requests further information from one or both of the parties. If they do, we will handle this at no extra cost.
This is a highly complex area of law and mistakes can easily be made. Errors resulting either from bad drafting or the failure to advise clients properly about their rights can have severe financial repercussions at a later stage. It is for this reason that you need a qualified solicitor to check what you have agreed and to draft all documentation for the Court.
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