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When couples get divorced it is a belief by many that the final decree absolute ends any financial connections they have.
Until there is an Order of the Court, the ability to claim for financial relief remains. There is no time limit with this which means that years after any separation you could be faced with a claim against your assets. Either party can claim against income, pension and capital and it is therefore important that the parties consider entering a “clean break consent order” which will dismiss the ability to make any claims.
Any delay in sorting out matrimonial finances can create difficulties. Couples can try and sort out the financial settlement themselves, however there is no guarantee that any documentation drawn up will be upheld by the Court. It is therefore strongly recommended that the parties enter a Consent Order while the divorce is progressing.
This can save the parties time and money in the future. Dealing with the issue of assets is equally important as failure to deal with them at the point of divorce can lead to problems especially if one party remarries as this can be a bar to making any application for financial remedy.
It is therefore important to take legal advice on the issue of financial matters when a marriage is breaking down.
If you would like further advice and assistance regarding this issue or any issue arising following a relationship breakdown please do not hesitate to contact Nowell Meller at either our Stoke on Trent office on 01782 813315 or our Stafford office on 01785 252377 or by email to sarah.thomas@nowellmeller.co.uk. Our specialist Family Team offer advice and representation. Contact us now to book your free initial consultation to discuss the options available to you.
