Financial orders

From Lawpack's Separation & Divorce Kit.

When you and your spouse finally reach agreement over your finances, it's vital that you reflect the terms of the settlement in a financial order. If you don't, any financial agreement you reach won't be binding.

It's only through a court order that your financial claims against each other can be dismissed, making it impossible for either of you to make financial claims against each other in the future.

The court can make financial orders any time on or after the pronouncement of the decree nisi. If you're not able to agree the terms of your financial settlement, the court will draft the order for you. If you do reach agreement, you're expected to draft the agreement between you and it's then lodged at the court for formal approval and sealing by a judge. This is provided that the judge is happy with the order and is satisfied that it reflects the fair terms of the settlement. Once the order is sealed, it's then binding upon both parties.

If you are planning to remarry and you are looking for any one of the following orders:

• lump sum;
• property transfer;
• sale of property;
• pension sharing;

as part of your financial settlement, then you will need to issue your Form A before you remarry or your right to claim these orders will be lost. Do note that maintenance orders cannot continue past the remarriage of the receiving spouse.

Law stated as at 1 September, 2006

25 July 2008