Skip to Content

The importance of financial orders during Divorce.

The importance of making legal financial orders has again been thrust into the spotlight and should serve as a warning to anyone undertaking divorce proceedings. During a recent case the courts granted an ex-wife permission to make a financial claim against her ex husband of 20 years, since their divorce he has become a successful businessman worth millions, through use of correct financial orders this claim and any future claim would have been avoided.

In the aforementioned case the ex-wife wanted to make a financial claim on her ex husband who had gone from a person with little assets to a multi-millionaire, having been divorced in 1992 the ex wife became a full time single mother looking after their eight year old son, living of very little in terms of income.

The outstanding point with this ruling is that a significant amount of time has passed, some 20 years, enough time for anyone to have a change in fortunes, the reason why this has been allowed is that in family law there is no time limit for a financial claim to be made if financial orders have not been completed.

The purpose of a financial order is to conclude the financial matters between both parties following a divorce, this is a formal arrangement made and recognised in court. The order will generally include details of payments to be made either as a lump sum or ongoing, pensions, distribution of fixed assets it will also normally make provision ensuring that no further claims can be made unless in certain circumstances.

In the case mentioned earlier, where it appears no assets were present at the time of the divorce, it is still the case that orders can be drawn up these are generally referred to as clean break orders.

This case is unusual, it's very rare that an ex-partner will go from nothing to multi-millionaire, or perhaps win the lottery, but the possibility of inheritance changing someone's financial situation is very real, and financial orders should be drawn up in all cases.




Image Description
related news
recent articles
Major Change in Divorce Law - no fault divorces

Government to finally introduce 'no-fault' Divorce laws..

link

Children and the Law Leaving a child at home.

There is no age laid down by the law stating when your child is old enough to be left home alone; however, it is against the law to leave a child home alone if ..

Registering your Childs Birth.

Registration of a Childs birth is a legal requirement - understand what you need to do...

Reasons for Divorce

Reasons for Divorce. - What constitutes grounds for divorce..

Civil partnership for Heterosexual Couples

A change in the marriage laws..

link

Children and the Law - Smacking

Children and the Law - Smacking.
It is surprising that the UK have not adopted the same stance as in Europe where the EU have adopted a clearer stance in makin..

Domestic Violence Guide

Domestic violence is not just physical violence, it can take many forms, which a person may use to control a partner, if you are suffering domestic violence cal..

Guide to Family Mediation

The objective of Family Mediation is to provide a less confrontational approach to separation than the traditional Legal Model, helping parents communicate to f..

How to end a Civil Partnership.

Whilst a Civil partnership is different to a marriage in many way..

link

Stalking and Harassment.

Recent report uncovers failings by the police and prosecution service...

The legal rights of unmarried couples.

The legal rights of unmarried couples, regarding property. - In the event of the breakup of a relationship where the couple are not married what happens to the ..

Children and the Law Consensual Sex

Children and the Law Consensual Sex
To consent is to agree to something, so when you are talking about the age of consent it is the age at which that law state..

Image Description
Is there anything wrong with this page? - any amendments will receive accreditation - email us

Solicitors.com are not a firm of solicitors, and any content on the site should not be used in substitute for obtaining Legal advice from a solicitor regulated in the UK, Solicitors.com recommends that you contact a firm of solicitors to discuss your individual legal requirement. Whilst we strive to bring you accurate up to date content, all content on this site is not legal advice and is not guaranteed to be correct. Use of this site does not create a client relationship.

Information by area of law
Back to top